Which entity is responsible for overseeing state appraisal regulatory agencies?

• A. Appraisal Subcommittee (ASC)
• B. Appraisal Standards Board (ASB)
• C. Board of Trustees (BOT)
• D. Appraiser Qualification Board (AQB)

Answer: (A)

The Appraisal Subcommittee is the entity that oversees state appraisal regulatory agencies. It sits within the larger FFIEC framework and monitors each state’s regulatory program to ensure it operates in line with USPAP and federal requirements (Title XI). The ASC reviews how states license, regulate, and discipline appraisers, collects annual reports, and can take action if a state’s program falls short.

The other groups focus on standards and qualifications rather than oversight of state regulators. The Appraisal Standards Board creates USPAP standards, the Appraiser Qualification Board sets minimum appraiser qualifications, and the Board of Trustees governs the Appraisal Foundation, not the state regulatory agencies themselves.