What type of organization is The Appraisal Subcommittee?

The Appraisal Subcommittee operates as a federal regulatory agency. It was created in the late 1980s as part of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) to provide oversight and support for the appraisal industry within the realm of federal regulation. The main purpose of the Subcommittee is to monitor and enforce compliance with the various appraisal regulations established for federally-related transactions.

This federal status allows the Appraisal Subcommittee to play a vital role in ensuring that appraisal standards uphold consistent quality and integrity across the United States, thus safeguarding the interests of consumers and financial institutions alike. By functioning as a regulatory agency, it can coordinate with other federal, state, and local entities to enhance the effectiveness of appraisal practices and regulations, which is crucial for maintaining trust in the valuation of real property.