McKissock Fair Housing, Fair Lending Practice Test

The Appraisal Subcommittee is the national body charged with overseeing state appraiser regulatory agencies. Created under FIRREA, it monitors each state's licensing and certification programs for appraisers, ensures they meet minimum criteria and USPAP standards, and maintains the National Registry of licensed and certified appraisers. It can require corrective actions if a state regulator isn’t in compliance, providing uniform oversight across states. This role isn’t filled by the Federal Trade Commission (which focuses on competition and consumer protection broadly) or by HUD (housing policy and programs), and a State Real Estate Board regulates real estate licensees within a state rather than serving as the overarching overseer of all state appraiser regulators.