Title 12 — Banks and BankingRelease 119-73
§3342 Transactions requiring services of State certified appraiser
Title 12 › Chapter CHAPTER 34A— - APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL › § 3342
Summary
Agencies must decide if a federally related appraisal needs a State certified appraiser based on how important the transaction is for money or public policy. Certified appraisers are required for transactions of $1,000,000 or more. 1–4 unit single-family appraisals can be done by State licensed appraisers unless the property, ownership, features, or market are atypical.
Full Legal Text
Title 12, §3342
Banks and Banking — Source: USLM XML via OLRC
In determining whether an appraisal in connection with a federally related transaction shall be performed by a State certified appraiser, an agency or instrumentality under this chapter shall consider whether transactions, either individually or collectively, are of sufficient financial or public policy importance to the United States that an individual who performs an appraisal in connection with such transactions should be a State certified appraiser, except that—
(1)a State certified appraiser shall be required for all federally related transactions having a value of $1,000,000 or more; and
(2)1-to-4 unit, single family residential appraisals may be performed by State licensed appraisers unless the size and complexity requires a State certified appraiser, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2010—Par. (2). Pub. L. 111–203 inserted “, where a complex 1-to-4 unit single family residential appraisal means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical” before the period.
Statutory Notes and Related Subsidiaries
Effective Date
of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the date on which final
Regulations
implementing that amendment take effect, or on the date that is 18 months after the designated transfer date if such
Regulations
have not been issued by that date, see section 1400(c) of Pub. L. 111–203, set out as a note under section 1601 of Title 15, Commerce and Trade.
Reference
Citations & Metadata
Citation
12 U.S.C. § 3342
Title 12 — Banks and Banking
Last Updated
Apr 6, 2026
Release point: 119-73