What are FIRREA's appraisal requirements?

Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) requires that appraisals for federally related transactions be performed in writing, in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP), by state licensed or certified appraisers whose competency has been demonstrated. Federally related transactions of $1,000,000 or more require a state certified appraiser, while 1-to-4 unit residential appraisals may be performed by state licensed appraisers unless the property or transaction is complex.

FIRREA, the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, requires that appraisals for federally related transactions be performed by state-credentialed appraisers. It recognizes three classifications: State Licensed, State Certified Residential, and State Certified General. Trainee-level credentials are not federally recognized, so trainees cannot independently appraise property for federally related transactions. Title XI also created the National Registry, funded by a $40 annual fee per appraiser.

Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) requires states to license and certify real estate appraisers who work on federally related transactions. It recognizes three classifications: State Licensed, Certified Residential, and Certified General. Trainee-level credentials are not federally recognized, so trainees cannot independently appraise property for federally related transactions. Arkansas created its appraiser licensing system in response to Title XI, and state law must remain no more restrictive than the federal act requires.

Title XI of FIRREA sets the federal framework for real estate appraisal. It requires state agencies such as DC's Board of Real Estate Appraisers to license and certify appraisers, keep their requirements no less stringent than the AQB Criteria, collect an annual registry fee of not more than $40 per appraiser for the Appraisal Subcommittee (ASC), and recognize another state's certification for temporary practice on federally related transactions. DC's appraiser program received an ASC finding of Excellent in March 2025.

Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires appraisals for federally related transactions to meet federal standards. Federal financial institution regulators reference the Uniform Standards of Professional Appraisal Practice (USPAP) Standards 1-4 for real property development, reporting, and appraisal review, so state-licensed and state-certified appraisers must follow USPAP on those assignments. The Appraisal Subcommittee (ASC) monitors each state's appraiser program for compliance with Title XI.

FIRREA's Title XI framework requires that appraisals for federally related transactions be performed by state-licensed or state-certified appraisers who follow USPAP. It recognizes three credential classifications, State Licensed, State Certified Residential, and State Certified General, with minimums set by the Appraisal Qualifications Board (AQB). The Appraisal Subcommittee (ASC) reviews each state's program against Title XI mandates; Nebraska's appraiser program received a finding of Excellent in March 2025.

FIRREA, the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, created federal oversight of real estate appraising through Title XI. The law requires states to credential appraisers who work on federally related transactions and to transmit an annual roster to the Appraisal Subcommittee, collecting an annual registry fee of no more than $40 per appraiser. New Hampshire's appraiser board exists to bring the state into compliance with Title XI.

FIRREA, the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, is the federal law that created national real estate appraisal requirements. It requires state licensure or certification for appraisers working on federally related transactions, and states enforce USPAP compliance under the law. It also underpins the National Registry maintained by the federal Appraisal Subcommittee, under which states collect an annual registry fee of not more than $40 from each appraiser (12 U.S.C. 3338).

The Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) created the federal framework for appraiser regulation. Title XI requires state licensure and certification of appraisers who work on federally related transactions and directs that those appraisals follow USPAP. South Dakota's Appraiser Certification Program administers this mandate, examining candidates and issuing credentials. States also collect a $40 annual National Registry fee for each credential so it appears in the registry lenders use for verification.

The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) requires appraisers to hold a state license or certification for federally related transactions. Under Title XI, state programs must at least meet the criteria set by the Appraiser Qualifications Board (AQB), and the Appraisal Subcommittee (ASC) oversees the state programs. FIRREA also requires states to recognize another state's credential on a temporary basis when the appraiser registers with the state of temporary practice and the property is part of a federally related transaction.

FIRREA's Title XI requires that appraisals for federally related transactions be performed by state licensed or certified appraisers. States must adopt and implement, at minimum, all relevant Appraiser Qualifications Board (AQB) criteria for education, experience, and examination, and they remit an annual registry fee for each appraiser listed on the National Registry. The law recognizes three classifications: State Licensed, State Certified Residential, and State Certified General.