8/13/2020
FFIEC approval of the North Dakota temporary waiver extension approved by the ASC on July 29, 2020
The Federal Financial Institutions Examination Council met on August 7, 2020, via WebEx, and a quorum of the Council being present, took the following action: pursuant to § 1119(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, as amended, the Council approved the temporary waiver extension approved by the Appraisal Subcommittee (ASC) on July 29, 2020, as follows:
1. A temporary waiver of appraiser credentialing requirements for appraisals of FRTs under $1,000,000 for commercial real estate transactions throughout the State of North Dakota is extended for an additional one-year period, expiring August 7, 2021.
2. During the additional one-year period, Requesters are expected to continue efforts to develop, through continued dialogue with the Appraiser Board and other North Dakota stakeholders, a plan to identify potential solutions to address appraiser scarcity and appraisal delays.
3. The ASC pursuant to 12 CFR 1102.7 may terminate this waiver order on a finding that significant delays in the receipt of appraisals for FRTs no longer exists, or that the terms and conditions of the order are not being satisfied.
The Order was posted in the August 13, 2020 issue of the Federal Register.
7/30/2020
ASC Special Meeting held July 29, 2020
The ASC met in a Special Meeting on July 29, 2020, and voted to approve, subject to approval by the Federal Financial Institutions Examination Council (FFIEC), an Order extending temporary waiver relief of appraiser credentialing requirements for appraisals of federally related transactions (FRTs) under $1,000,000 for commercial real estate transactions throughout the State of North Dakota for an additional one-year period and subject to specified terms and conditions.
The Order is only effective upon approval by the FFIEC. Once the FFIEC takes action, the specific terms of the Order will be published promptly in the Federal Register.
6/5/2020
2019 ASC Annual Report
The ASC's 2019 Annual Report is available and can be viewed
here. It can also be found under the "Annual Report" subtab under the "About the ASC" tab. Due to the COVID-19 Health Emergency, and concerns of shipping and handling, the ASC is not making hard copies available this year.
8/31/2018
ASC 5-Year Strategic Plan
The ASC, at its August 29, 2018 Meeting, approved its 5-Year Strategic Plan covering Fiscal Years 2019 through 2023. The Strategic Plan can be viewed
here.
4/17/2018
ASC Revised Bulletin No. 2017-01
The ASC has revised the opening date for opening the National Registry of AMCs (AMC Registry). The ASC now plans to open the AMC Registry to States on July 16, 2018.
The previous target date was June 4, 2018. The ASC is issuing revised Bulletin 2017-01. The only change to the Bulletin is the open date for the AMC Registry. The Bulletin can be viewed here.