Just post it! Inquiring minds want to know.

So, I’m thinking (an I might be wrong) that the purpose of the article was to decry the lose of work volume for residential appraisals?

If I’m wrong, I apologize.

If I’m correct, somebody email me, I have the info for a “current” article on this matter, including the current Federal citations.

Like I said, no coffee yet so I’ll take the first definitions that pop up (State of Georgia):

What is a Federally Related Transaction?

The determination of whether or not an appraisal assignment involves a federally related transaction is important to Georgia appraisers for two reasons:

1. only licensed or certified appraisers may perform an appraisals to be used in federally related transactions and

2. those appraisals must comply with the Uniform Standards of Professional Appraisal Practice (USPAP).

Georgia’s Appraisal Act [43-39A-2(12)] and the act of Congress that established the regulation of appraisers in the United States — Title XI [12 U.S.C. 3331-3351] in SEC. 1121. Definitions [12 U.S.C. 3350(4)] — define a federally related transaction as any real estate related financial transaction which

1. a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates; and
2. requires the services of an appraiser.

Real Estate Related Transactions

Title XI [12 U.S.C. 3350(5)] also defines a real estate related transaction as “any transaction involving:

1. the sale, lease, purchase, investment in or exchange of real property, including interests in property, or the financing thereof;
2. the refinancing of real property or interests in real property; and
3. the use of real property or interests in property as security for a loan or investment, including mortgage-backed securities.”

Therefore, in determining whether an assignment is a federally related transaction, an appraiser must begin by answering two questions. First does the appraisal involve the transfer of an interest in real property, the financing or refinancing of a transfer of an interest in real property, or the use of an interest in real property as security for a loan or for mortgage-backed securities.

Second, does the financial transaction for which the appraisal assignment is to be performed involve a federal financial regulatory agency or one of the agencies specifically named in Title XI that require the services of a licensed or certified appraiser.

Federal Financial Regulatory Agencies

Title XI identifies the following agencies as federal financial regulatory agencies:

(A) the Board of Governors of the Federal Reserve System (In addition to the 12 member banks, the Federal Reserve has regulatory authority over state-chartered banks and bank holding companies);

(B) Federal Deposit Insurance Corporation (FDIC) (In addition to insuring the accounts of depositors in member banks, the FDIC regulates savings banks and state-chartered banks that are not members of the Federal Reserve System);

(C) Office of the Comptroller of the Currency (OCC) (The OCC regulates more than 2,500 national banks all across the U. S.);

(D) Office of Thrift Supervision (OTS) (The OTS regulates the nation’s savings and loan or thrift institutions); and

(E) National Credit Union Administration (NCUA) (The NCUA insures the accounts of depositors in federally chartered credit union and regulates those institutions).

~scratching my head~ “OK, worth coming back for later.” Maybe a TWO cup moring.