Regulatory Alerts2024-03-13 | FIL-9-2024FDIC Issues Temporary Exceptions to Appraisal Requirements in Maui County as Affected by Hawaii Wildfires
The Federal Deposit Insurance Corporation grants a temporary exception to appraisal requirements for real estate-related transactions in Maui County affected by the Hawaii wildfires. Institutions may apply this relief to binding commitments made between August 10, 2023, and August 10, 2026, provided the real property value supports the transaction decision. The exception remains valid for three years following the major disaster declaration and continues to be subject to management review and FDIC examination.
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