Federal agencies responded to concerns about the shortage of state-certified and -licensed appraisers Wednesday, saying that financial institutions have two options to help ease the timely consideration of loan applications.
The agencies said the concerns about the availability of qualified appraisers, particularly in rural areas, were raised during the Economic Growth and Regulatory Paperwork Reduction Act review process.
The Financial Institutions Reform, Recovery and Enforcement Act requires appraisals for federally related transactions to be performed by people who meet state certification or licensing requirements.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
