Appraisal Reform:

Implementation Status and Unresolved Issues

GGD-93-19: Published: Oct 30, 1992. Publicly Released: Nov 30, 1992.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO reviewed the implementation of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.

GAO found that: (1) positive strides have been made at the federal and state levels to implement Title XI by the December 31, 1992, deadline; (2) all 50 states, the District of Columbia, and most U.S. territories have developed and implemented programs for licensing and certifying appraisers involved in federal transactions; (3) as of September 1992, over 59,000 appraisers nationwide had been state-licensed or -certified; (4) each of the federal financial institutions regulatory agencies and the Resolution Trust Corporation have issued revised appraisal regulations and changed their thresholds for requiring a state-licensed or -certified appraiser to $100,000; and (5) several issues remain unresolved, including appraiser availability and appraisal cost, the appropriate de minimis threshold, standards for evaluating real estate-related financial transactions under the de minimis threshold, and state enforcement of appraisal standards.

Feb 3, 2021

Jan 29, 2021

Jan 19, 2021

Jan 13, 2021

Dec 16, 2020

Dec 9, 2020

Dec 3, 2020

Nov 30, 2020

Nov 24, 2020

Looking for more? Browse all our products here