Which federal entity maintains oversight authority over state appraisal regulatory agencies?

The Appraisal Subcommittee (ASC) serves as the federal entity responsible for overseeing state appraisal regulatory agencies. This role is critical because the ASC was established to ensure that states comply with federal standards concerning the appraisal industry. Specifically, the ASC monitors the implementation of the provisions under the Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). This oversight includes ensuring that each state's appraiser regulatory agency is operating in a manner that is consistent with both federal and state laws, thus protecting consumers and maintaining the integrity of the appraisal process.

Having the ASC in place helps to create a consistent and high-quality appraisal process across different states, ensuring compliance with federal standards. This is vital for the stability of the real estate market, especially in matters related to lending and mortgage processes, where accurate property valuations are essential.

In contrast, the other entities mentioned do not have this specific oversight function over state appraisal regulatory agencies. For instance, the Federal Trade Commission focuses more on consumer protection and competition, the Department of Housing and Urban Development deals with housing policies and programs, and the National Association of Realtors represents real estate professionals rather than regulating appraisers. The unique role of the ASC is why it is the correct answer to the