Banks Will Soon be Able to Postpone Some Appraisals Until 120 Days After a Mortgage Closes

Ben Lane, April 14, 2020
Citing the need to “extend financing to creditworthy households and businesses quickly in the wake of the national emergency declared in connection with COVID-19,” a trio of federal banking regulators announced Tuesday evening that banks will soon be able to delay getting an appraisal on a property for as many as 120 days after a mortgage closes.