12 U.S.C. § 3339 — Functions of Federal financial institutions regulatory agencies relating to appraisal standards

Each Federal financial institutions regulatory agency and the Resolution Trust Corporation shall prescribe appropriate standards for the performance of real estate appraisals about federally related transactions under the jurisdiction of each that agency or instrumentality. These rules shall require, at least— (1) that real estate appraisals be performed under generally accepted appraisal standards as evidenced by the appraisal standards promulgated by the Appraisal Standards Board of the Appraisal Foundation; (2) that such appraisals must be written appraisals; and (3) that such appraisals must be under appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice. Each that agency or instrumentality may require compliance with additional standards if it makes a determination in a written document that such additional standards are required to properly carry out its statutory responsibilities.