Who must the Appraisal Subcommittee report its findings to regarding the appraisal industry?

The Appraisal Subcommittee (ASC) is tasked with overseeing the real estate appraisal industry in the United States. One of its primary roles is to ensure that appraisals are conducted in a competent and professional manner, adhering to the established standards and regulations in the field. Reports produced by the ASC are critical for maintaining the integrity of the appraisal process, and to that end, the committee is required to provide its findings to the US Congress.

This reporting ensures that Congress is informed about the state of the appraisal industry, including issues related to appraisal practices, policies, and compliance with federal laws. It allows Congress to understand how the industry is functioning and to make informed decisions regarding any necessary legislative action or oversight to protect consumers and ensure the quality of appraisals nationwide.

In contrast, the other entities listed have relationships with the appraisal industry but do not receive direct reports from the ASC. For instance, the Appraisal Institute and the National Association of Realtors are professional organizations that may advocate for appraisers or real estate professionals, but they do not receive oversight reports from the ASC. The Department of Housing and Urban Development plays a role in housing policy but is not the designated recipient of the ASC's findings regarding the appraisal industry. Thus, the requirement to report