Which federal agency is included in the Appraisal Subcommittee?

The inclusion of the Department of Housing and Urban Development (HUD) in the Appraisal Subcommittee is significant because this agency plays a pivotal role in ensuring the quality and integrity of real estate appraisals in federally related transactions. The Appraisal Subcommittee, established as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, is designed to oversee the appraisal process and maintain national standards. HUD's involvement is crucial because it focuses on promoting fair housing and ensuring that appraisals reflect true market value, which supports equitable lending practices.

In this context, HUD's participation ensures that appraisal processes align with broader housing policy goals, including compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). This means that the agency contributes to efforts aimed at improving appraisal practices, protecting consumers, and promoting a stable housing market. The other listed federal agencies do not have the same direct involvement or alignment with the specific objectives and responsibilities of the Appraisal Subcommittee, which centers around appraisals in the housing and financial markets.