Which entity has oversight authority over state appraiser regulatory agencies?

• A. Appraisal Subcommittee
• B. National Association of REALTORS
• C. Internal Revenue Service
• D. Department of Justice

Answer: (A)

The Appraisal Subcommittee oversees state appraiser regulatory agencies. Created under FIRREA to supervise appraisal regulation nationwide, the ASC monitors each state's licensing and disciplinary programs and ensures they meet federal standards and align with the national registry of appraisers. It reviews state laws, enforcement actions, and program performance, and can require changes if a state isn’t in compliance. This centralized oversight helps maintain uniform qualifications for appraisers and protects the public in federally related real estate transactions. The other entities don’t have this regulatory oversight role: a trade association like the National Association of REALTORS, the Internal Revenue Service, or the Department of Justice do not supervise state appraisal regulators.