2025-06748RuleWallet

Wildfire Aftermath: LA Banks Skip Appraisals Until 2028

Published Date: 4/18/2025

Rule

Summary

If you’re dealing with real estate loans or sales in Los Angeles County after the recent wildfires and strong winds, good news! The usual strict property appraisal rules are temporarily relaxed to help speed things up. These special rules last until January 8, 2028, giving banks and buyers more flexibility during recovery.

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Temporary FIRREA appraisal exceptions in LA County

If you are involved in a real estate-related financial transaction in Los Angeles County after the President’s major disaster declaration for wildfires and straight-line winds, the agencies granted temporary exceptions to the usual FIRREA appraisal requirements. Those exceptions apply to transactions involving property in Los Angeles County and expire on January 8, 2028.

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Key Dates

Published Date
4/18/2025

Department and Agencies

Department
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Treasury Department
Comptroller of the Currency
Federal Reserve System
Federal Deposit Insurance Corporation
National Credit Union Administration
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