Which body has oversight authority over state appraiser regulatory agencies?

Which body has oversight authority over state appraiser regulatory agencies?

• A. Appraisal Subcommittee
• B. Federal Reserve
• C. Department of Housing
• D. National Association of Real Estate Appraisers

Answer: (A)

The Appraisal Subcommittee is the body with oversight authority over state appraiser regulatory agencies. It operates under FFIEC and is responsible for ensuring that each state has a properly functioning regulatory program for licensing, certification, and enforcement of appraisers, in line with FIRREA and USPAP requirements. This means the ASC reviews state rules, monitors practices, and can require corrective actions if a state’s program does not meet the established standards. The Federal Reserve primarily regulates banks, not state appraiser offices. HUD handles housing programs and related appraisal requirements for FHA loans but does not oversee state appraisal regulators. The National Association of Real Estate Appraisers is a professional association, not a government oversight entity.

The Appraisal Subcommittee is the body with oversight authority over state appraiser regulatory agencies. It operates under FFIEC and is responsible for ensuring that each state has a properly functioning regulatory program for licensing, certification, and enforcement of appraisers, in line with FIRREA and USPAP requirements. This means the ASC reviews state rules, monitors practices, and can require corrective actions if a state’s program does not meet the established standards. The Federal Reserve primarily regulates banks, not state appraiser offices. HUD handles housing programs and related appraisal requirements for FHA loans but does not oversee state appraisal regulators. The National Association of Real Estate Appraisers is a professional association, not a government oversight entity.