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Inactive Financial Institution Letters 

FFIEC Appraisal Subcommittee



Press Release

September 20, 1995

For Immediate Release

September 8, 1995

The Appraisal Subcommittee of the Federal Financial Institutions Examination Council ("ASC") is publishing a notice in the Federal Register to solicit public comment on how the ASC should implement §315 of the Riegle Community Development and Regulatory Improvement Act of 1994 ("CDRIA"). The amendment added the following subparagraph to §1122(a) of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989:

     (2) Fees for temporary practice.  A state appraiser certifying or
     licensing agency shall not impose excessive fees or burdensome
     requirements, as determined by the Appraisal Subcommittee, for
     temporary practice under this subsection.
     (b) Reciprocity.  The Appraisal Subcommittee shall encourage the
     States to develop reciprocity agreements that readily authorize
     appraisers who are licensed or certified in one State (and who are
     in good standing with their State appraiser certifying or licensing
     agency) to perform appraisals in other States.

The ASC anticipates that the comments generated by the notice will facilitate the establishment of a more efficient and uniform system for providing temporary practice and reciprocity to State certified and licensed real estate appraisers. The notice is expected to be published in the Federal Register on September 12, 1995.

For further information, please contact the ASC at (202) 634-6520.

Attachment: PDF Format (33 kb, PDF help or hard copy),HTML Format

Distribution: FDIC-Supervised Banks (Commercial and Savings)

Last Updated 07/16/1999

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