Washington Report

Advocacy Updates from Washington D.C.

ASC Evaluates Appraisal Waiver in Tennessee

On March 9, 2018, the Appraisal Subcommittee (ASC) put out a notice for comment concerning a formal request by Tri-Star Bank of Tennessee for a temporary waiver of appraiser certification or licensing requirements pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act. In late 2017, Tri-Star Bank made an initial request for relief from appraiser requirements for real estate loans in the Nashville area for all of 2018, citing a severe lack of appraisers in the area. The ASC requested further information from Tri-Star Bank, which was provided in January 2018. After assessing the information from Tri-Star Bank, the ASC has moved onto the next step of evaluating the request for a waiver of appraisal requirements by asking for public comment on the matter. Comments are due April 9, 2018.

Read the Appraisal Subcommittee’s Notice