What are the Appraisal Subcommittee (ASC) and the National Registry?

The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) was created pursuant to Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989. In general the ASC oversees the real estate appraisal process as it relates to federally related transactions.

The ASC’s Mission is to:

(1) oversee the appraiser regulatory programs established by the States, Territories and the District of Columbia (States)

(2) Monitor the requirements addressing appraisal standards for federal financial institutions

(3) Maintain the National Registry of State certified and licensed appraisers; and

(4) Monitor and review operations of the Appraisal Foundation

The National Registry is a database consisting of State Licensed, State Certified Residential and State Certified General Appraisers who are eligible to perform appraisals in connection with federally related transactions. The information on these individuals is received directly from the State that issued the credential and is provided at least monthly.

For additional Information on the ASC and the National Registry go to https://www.asc.gov/

For information about the FHA roster for appraisers please visit https://www.hud.gov/program_offices/housing/sfh/appr

OR https://www.asc.gov/Frequently-Asked-Questions/FrequentlyAskedQuestions.aspx

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: KA-03612