Letters to Credit Unions No.: 17-CU-06
Temporary Exceptions to the FIRREA Appraisal Requirements in Areas Affected by Severe Storms & Flooding Related to Hurricanes Harvey, Irma, and Maria
October 2017

NCUA and the other federal regulatory agencies have issued an exception from the appraisal requirements for real estate-related financial transactions in areas declared major disaster areas by President Trump. The exception from the appraisal requirements expires 3 years from the declaration of the disaster in the specified area.

For credit unions, this means flexibility under Part 722. Credit unions may choose to take advantage of the exception to the appraisal requirements if:

  • the property involved was located in the major disaster area
  • there is a binding commitment to fund the transaction that was entered into on or within 36 months of the date that the area was declared a major disaster
  • the value of the real property supports the institution’s decision to enter into the transaction

Transactions involving exceptions to the appraisal requirements will be subject to review in the course of examinations. The order granting the exceptions is available here. Additional guidance from NCUA related to appraisals is available in NCUA Letter to Credit Unions 10-CU-23.

Disaster Locale

Specific Areas

Exception Expires



Aransas, Austin, Bastrop, Bee, Brazoria, Calhoun, Chambers, Colorado, DeWitt, Fayette, Fort Bend, Galveston, Goliad, Gonzales, Hardin, Harris, Jackson, Jasper, Jefferson, Karnes, Kleberg, Lavaca, Lee, Liberty, Matagorda, Montgomery, Newton, Nueces, Orange, Polk, Refugio, Sabine, San Jacinto, San Patricio, Tyler, Victoria, Walker, Waller, and Wharton counties.




Alachua, Baker, Bradford, Brevard, Broward, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Flagler, Gilchrist, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lafayette, Lake, Lee, Levy, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, Suwannee, Union, and Volusia counties.




Camden, Chatham, and Glynn counties.


US Virgin Islands

St John & St Thomas (Irma)
St. Croix



Puerto Rico

Aguas Buenas, Aibonito, Arecibo, Arroyo, Barceloneta, Barranquitas, Bayamón, Caguas, Canóvanas, Carolina, Cataño, Cayey, Ceiba, Ciales, Cidra, Coamo, Comerio, Corozal, Culebra, Dorado, Fajardo, Florida, Guayama, Guaynabo, Gurabo, Humacao, Jayuya, Juana Díaz, Juncos, Las Piedras, Loíza, Luquillo, Manati, Maunabo, Morovis, Naguabo, Naranjito, Orocovis, Patillas, Ponce, Rio Grande, Salinas, San Juan, San Lorenzo, Santa Isabel, Toa Alta, Toa Baja, Trujillo Alto, Utuado, Vega Alta, Vega Baja, Vieques, Villalba, and Yabucoa

[Canovanas, Culebra, Loiza, & Vieques]
[all the rest]

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