 The federal government does not regulate appraisers directly.The Appraisal Subcommittee (ASC), with members from the major Federal Lending Regulators, oversees TAF and the state licensing agencies.If ASC finds that a particular state's appraiser regulation and certification program is inadequate (i.e., it doesn't meet ASB and AQB standards), it can impose penalties including prohibition of a state's licensed appraisers from performing appraisals for federally related lending transactions.