Wisconsin Bankers Association filed 1 comment on this docket between Jun 2, 2020 and Jun 2, 2020. 1 other organizations filed here. The comment window closed 2248d ago.
Dear Sirs and Madams, Attached please find comments from the Wisconsin Bankers Association regarding the OCC's interim final rule regarding real estate appraisals, docket ID: OCC-2020-0014. WBA appreciates the opportunity to comment on the interim final rule. Sincerely, Heather A MacKinnon VP Legal Wisconsin Bankers Association
The OCC, Board, and FDIC (collectively, the agencies) are adopting an interim final rule to amend the agencies’ regulations requiring appraisals of real estate for certain transactions. The interim final rule defers the requirement to obtain an appraisal or evaluation for up to 120 days following the closing of a transaction for certain residential and commercial real estate transactions, excluding transactions for acquisition, development, and construction of real estate. Regulated institutions should make best efforts to obtain a credible valuation of real property collateral before the loan closing, and otherwise underwrite loans consistent with the principles in the agencies’ Standards for Safety and Soundness and Real Estate Lending Standards. The agencies are providing this relief to allow regulated institutions to expeditiously extend liquidity to creditworthy households and businesses in light of recent strains on the U.S. economy as a result of the National Emergency declared in connection with coronavirus disease 2019 (COVID–19).
View on regulations.gov →