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Is the Foundation a government agency?Updated 3 months ago

The Appraisal Foundation® (the Foundation) is not a government agency. It is a nonprofit organization formed by a group of appraisal membership organizations in the wake of the Savings and Loan Crisis of the 1980s. The Foundation was authorized by Congress in 1989 under Title XI of Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) to maintain standards and minimum qualifications for the real property appraisal profession. Congress granted this congressional authority because it wanted to emphasize appraiser independence in the wake of the Savings and Loan Crisis. The Foundation was established to provide private sector expertise that would not be swayed by political winds or changing administrations.

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