A federally related transaction is any real estate related financial transaction that a federal financial institutions regulatory agency (FFIRA) has either contracted for, or regulates and requires the services of an appraiser.
There are 5 federal financial regulatory agencies
- Office of Thrift Supervisions (OTS)
- Office of the Comptroller of the Currency (OCC)
- Board of Governors of the Federal Reserve System (FRB)
- Federal Deposit Corporation (FDIC)
- National Credit Union Administration (CUA
A real estate-related financial transaction is any transaction involving the:
- Sale, lease, purchase, investment in or exchange of real property, including interests in property, or financial thereof
- Refinancing of real property or interests in real property
- Use of real property or interests in property as security for a loan or investment, including mortgage-backed securities.
Florida real estate licensees who are not licensed appraisers are cautioned to get a statement in writing from the client that the appraisal is not associated with a federally related transaction.
Information Courtesy of Rowlett Real Estate School
Captain Wayne Rowlett