ASA to File Comments on Interim Final Appraiser Independence Regulations Released by Federal Reserve

Oct. 21, 2010 - PRLog -- Herndon, Va. — On October 18, the Federal Reserve Board released interim final regulations governing the appraiser independence requirements mandated by the Dodd-Frank financial services reform bill.  The regulations apply broadly to those providing valuations, including broker price opinions, and also address the issue of customary reasonable fees. The American Society of Appraisers (ASA) has provided an analysis of the interim final regulations, and intends to file comments as part of the finalization process.

The regulations, which were required to be promulgated no more than 90 days after Dodd-Frank was enacted, take effect on April 1, 2011, to allow stakeholders time to comply with the new requirements.  The promulgation of these regulations also means the sunset of the Home Valuation Code of Conduct, as well as the HOEPA appraiser independence rules which are incorporated into the new regulations.  

To read the entire 132-page release, visit the following URL, http://www.appraisers.org/Libraries/Members_Only/Federal_Reserve_Interim_Final_Regs_on_Appraisal_Independence.sflb.ashx


About ASA:

ASA is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. ASA is the oldest and only major organization representing all disciplines of appraisal specialists, originating in 1936 and incorporating in 1952. ASA’s headquarters is in the metropolitan Washington, D.C., area. Visit the ASA Web site at www.appraisers.org.

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The American Society of Appraisers is an international organization of appraisal professionals and others dedicated to the education, development and growth of the appraisal profession. To find an accredited appraiser near you, visit www.appraisers.org