State Compliance Reviews
The ASC monitors each State’s appraiser licensing and certification regulatory program to ensure the State:
(1) recognizes and enforces the standards, requirements and procedures prescribed by Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended, (Title XI);
(2) has adequate authority to permit it to carry out its Title XI-related functions; and
(3) makes decisions concerning appraisal standards, appraiser qualifications and supervision of appraiser practices consistent with Title XI. The ASC, in general, satisfies these responsibilities by performing on-site Compliance Reviews of State agency programs and maintaining close communications with appraisers, State and Federal agencies, and users of appraisal services. Written communications are available on our website under the Public Documents Library.
Each Compliance Review assesses every facet of a State’s appraiser regulatory program. Particular emphasis is placed on the State agency’s enforcement program. Reviews usually are scheduled to coincide with a meeting of the State agency’s decision-making body and are conducted over two to four days. ASC staff presents its Preliminary Findings and recommendations to the State. The State is allowed 60 days to respond to the Preliminary Findings.
After receiving the State’s response, or once the 60-day response period has passed, whichever occurs first, all correspondence and staff recommendations are forwarded to the ASC for final consideration. The ASC issues a final ASC Compliance Review Report with the ASC’s findings and required actions. You will find copies of a past State Compliance Review Reports in our Public Documents Library under “State Compliance Review correspondence.”
Current ASC State Compliance Review Summary