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NCUA RIN: 3133-AE11 Publication ID: Spring 2014 
Title: Minimum Standards for State Registration of Appraisal Management Companies 
Abstract: The Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Consumer Financial Protection Bureau, and National Credit Union Administration will issue a joint proposed rule to establish minimum requirements for the registration and oversight of appraisal management companies (AMC) to implement the provisions of section 1473(f) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Among other things, the proposal would require that AMCs: (1) Register with and be subject to supervision by a state appraiser certifying and licensing agency in each state in which such company operates; (2) verify that only licensed or certified appraisers are used for federally related transactions; (3) require that appraisals conducted by an AMC comply with the Uniform Standards of Professional Appraisal Practice; and (4) require that appraisals are conducted independently and free from inappropriate influence and coercion pursuant to the appraisal independence standards established under section 129E of the Truth in Lending Act. 
Agency: National Credit Union Administration(NCUA)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 722 
Legal Authority: 12 USC 1766; 12 USC 3353 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/00/2014   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.ncua.gov/Legal/Regs/Pages/PropRegs.aspx  
RIN Data Printed in the FR: No 
Related Agencies: Joint: TREAS/OCC, FRS, FDIC, FHFA, CFPB; 
Agency Contact:
John H. Brolin
Staff Attorney
National Credit Union Administration
1775 Duke Street,
Alexandria, VA 22314
Phone:703 518-6438
Fax:703 518-6569
Email: jbrolin@ncua.gov

 
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