Appraisal Subcommittee

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Washington D.C., DC
Appraisal Subcommittee

Our Federal Gov.

mission is to provide federal oversight of State appraiser and appraisal management company (AMC) regulatory programs and a monitoring framework for the Appraisal Foundation and the Federal Financial Institutions Regulatory Agencies.

09/30/2024

Zixta Martinez , Deputy Director, Consumer Financial Protection Bureau (CFPB), has served as ASC Board Member and Chair since April of 2022. Zixta joined the CFPB in 2010, as part of the CFPB Implementation team. She has since served as Senior Advisor for Supervision, Enforcement and Fair Lending, Associate Director for External Affairs, and Assistant Director for the Office of Community Affairs for the CFPB. As Deputy Director, she oversees the Bureau’s Operations Division.

Learn more: https://www.asc.gov/about/representatives

07/31/2024

This month, five federal regulatory agencies issued guidance addressing reconsiderations of value (ROV) for residential real estate transactions, offering examples of policies that financial institutions may implement to help identify and address the risk of discrimination.

The five agencies taking part in this guidance are the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (FRB), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC).

To learn more, visit https://www.consumerfinance.gov/about-us/newsroom/agencies-finalize-interagency-guidance-on-reconsiderations-of-value-for-residential-real-estate-valuations/

Read the full guidance athttps://files.consumerfinance.gov/f/documents/cfpb_interagency-guidance-on-reconsiderations-of-value_2024-07.pdf

07/26/2024

Who is eligible for ASC grants?

State real estate appraisal regulatory agencies are eligible to apply for and receive federal assistance through the 2024 State Appraiser Regulatory Agencies Support (SARAS) grant. This funding can help states improve their real estate appraiser regulatory framework and meet the requirements associated with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

The second round of applications is due on September 4, 2024, by 5:00 p.m. ET.

Grants are also available for the The Appraisal Foundation

To learn more, visit www.asc.gov/grants/state-programs

07/18/2024

This month, six federal regulatory agencies issued a final rule designed to help ensure the credibility and integrity of models used in valuations. In particular, this rule will implement quality control standards for automated valuation models (AVMs) used by mortgage originators and secondary market issuers in valuing homes.

The six regulatory agencies taking part in establishing this rule are the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Housing Finance Agency (FHFA), the Board of Governors of the Federal Reserve System (FRB), the National Credit Union Administration (NCUA), and the Office of the U.S. Comptroller of the Currency (OCC).

Learn more by visiting https://www.consumerfinance.gov/about-us/newsroom/agencies-issue-final-rule-to-help-ensure-credibility-and-integrity-of-automated-valuation-models/

07/17/2024

ASC keeps an up-to-date registry of Appraiser and Appraisal Management Company (AMC) Programs for each of the U.S. States and Territories.

This is part of the ASC’s regulatory role monitoring State appraiser licensing and certification regulatory programs for compliance with Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989.

Visit www.ASC.gov to learn more.

07/10/2024

Please join us in welcoming Matt Ponzar as our new General Counsel. He will be responsible for the ASC’s legal matters.

07/04/2024

Happy Independence Day! We wish everyone a safe and joyful holiday filled with family, friends, and gratitude for our nation's freedoms.

06/28/2024

Will Appraisal Bias hearing materials be made available to the public?

From January 2023 to February 2024, ASC held four public hearings on Appraisal Bias. Information from all four hearings is now available on ASC.gov, including videos, transcripts, and witness testimony. Materials are listed chronologically as the hearings occurred.

https://www.asc.gov/node/846256

06/26/2024

We join the U.S. Department of Housing and Urban Development (HUD) in celebrating the 22nd Annual National Homeownership Month. Fair and accurate appraisals are a key step on the path to home ownership and helping potential home buyers make informed decisions.

06/24/2024

ASC has seven members, each designated by the head of their agency. The Federal Financial Institutions Examination Council (FFIEC) appoints a chair from the member representatives to serve a two-year term.

Learn more about the ASC member agencies by visiting www.ASC.gov.

06/20/2024

ASC convened for its Quarterly Meeting earlier this month. Among the topics discussed were recent State Compliance Reviews, grants for state appraisal regulatory agencies, and other operational updates.

Six Appraiser Program Compliance Reviews and six Appraisal Management Company (AMC) Program Compliance Reviews were conducted in the first quarter. Compliance Review findings are available on ASC.gov.

ASC received 10 applications for the first round of funding for state appraisal regulatory agencies, with the next round closing in September. Full meeting minutes will be posted on ASC.gov.

06/19/2024

ASC commemorates Juneteenth, an important milestone in our nation’s history. We honor the spirit of Juneteenth and work towards equal opportunities for all Americans through our commitment to fair and credible appraisals for all.

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Washington D.C., DC

Telephone

+12022892735

Website

https://www.asc.gov/Home.aspx

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