Appraisal Subcommittee of Federal Financial Institutions Examination Council | Midpage

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United States Code

Chapter 34A

Appraisal Subcommittee of Federal Financial Institutions Examination Council

3331Purpose 3332Functions of Appraisal Subcommittee 3333Chairperson of Appraisal Subcommittee; term of Chairperson; meetings 3334Officers and staff 3335Powers of Appraisal Subcommittee 3336Procedures for establishing appraisal standards and requiring use of certified and licensed appraisers 3337Startup funding 3338Roster of State certified or licensed appraisers; authority to collect and transmit fees 3339Functions of Federal financial institutions regulatory agencies relating to appraisal standards 3340Time for proposal and adoption of standards 3341Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications 3342Transactions requiring services of State certified appraiser 3343Transactions requiring services of State licensed appraiser 3344Time for proposal and adoption of rules 3345Certification and licensing requirements 3346Establishment of State appraiser certifying and licensing agencies 3347Monitoring of State appraiser certifying and licensing agencies 3348Recognition of State certified and licensed appraisers for purposes of this chapter 3349Violations in obtaining and performing appraisals in federally related transactions 3350Definitions 3351Miscellaneous provisions 3352Emergency exceptions for disaster areas 3353Appraisal management company minimum requirements 3354Automated valuation models used to estimate collateral value for mortgage lending purposes 3355Broker price opinions 3356Exemption from appraisals of real estate located in rural areas