Dodd-Frank Act: Federal legislation that reformed financial regulation and included provisions affecting real estate appraisals, particularly regarding appraiser independence and regulation of financial institutions
TILA (Truth in Lending Act): Federal law requiring lenders to provide standardized disclosures about credit and loan terms, including those related to appraisals and their impact on loan terms
RESPA (Real Estate Settlement Procedures Act): Federal law governing real estate settlement processes, including requirements for appraisal disclosure and fee transparency
ECOA (Equal Credit Opportunity Act): Federal law prohibiting discrimination in credit transactions, including the provision and use of appraisals in lending decisions
State Real Estate Laws: Varying state-specific regulations governing real estate transactions, contracts, and appraisal requirements that must be incorporated into the contingency addendum
USPAP (Uniform Standards of Professional Appraisal Practice): Professional standards for real estate appraisers that set guidelines for appraisal development and reporting
FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act): Federal law establishing regulatory oversight of real estate appraisals and setting minimum standards for appraisers
Interagency Appraisal Guidelines: Federal guidelines providing standards for regulated financial institutions regarding real estate appraisals and evaluations
State Board of Appraisers Requirements: State-specific regulations governing appraiser certification, licensing, and professional conduct requirements
Consumer Protection Laws: Both federal and state laws designed to protect consumers in real estate transactions, including requirements for fair and accurate appraisals
