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ASC Seeks Public Comment on Proposed Rulemaking to Amend Existing Rules Governing Temporary Waiver Requests

by Jessica Wilhelmy | Jan 14, 2022

On January 12th, the Appraisal Subcommittee (ASC) issued a proposed rulemaking to amend existing rules governing temporary waiver requests. The amendments seek to provide greater transparency and clarity on state appraisal waiver requests.

Existing rules allow requests for appraisal waivers to be initiated by State Appraisal Agencies or through third-party petitions. The proposed rule clarifies the procedure for both request methods and emphasizes the requirement for verifiable data or information to complement the request. Further, the ASC proposed to expand the timeframe for an ASC determination on a waiver request from 45 to 90 calendar days from the date of publication in the Federal Register.

To read the proposed rulemaking, click here.