APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
Title 12 - Banks and Banking
Purpose
Functions of Appraisal Subcommittee
Chairperson of Appraisal Subcommittee; term of Chairperson; meetings
Officers and staff
Powers of Appraisal Subcommittee
Procedures for establishing appraisal standards and requiring use of certified and licensed appraisers
Startup funding
Roster of State certified or licensed appraisers; authority to collect and transmit fees
Functions of Federal financial institutions regulatory agencies relating to appraisal standards
Time for proposal and adoption of standards
Functions of Federal financial institutions regulatory agencies relating to appraiser qualifications
Transactions requiring services of State certified appraiser
Transactions requiring services of State licensed appraiser
Time for proposal and adoption of rules
Certification and licensing requirements
Establishment of State appraiser certifying and licensing agencies
Monitoring of State appraiser certifying and licensing agencies
Recognition of State certified and licensed appraisers for purposes of this chapter
Violations in obtaining and performing appraisals in federally related transactions
Definitions
Miscellaneous provisions
Emergency exceptions for disaster areas
Appraisal management company minimum requirements
Automated valuation models used to estimate collateral value for mortgage lending purposes
Broker price opinions
Exemption from appraisals of real estate located in rural areas