I know this has been beat to death, but I'm still a little vague. I am trying to determine what an FRT REALLY is. I searched and read hundreds of posts, and a consensus seems to be that loans by FNMA, VA and FHA are not FRT's. Then I come with this: http://myflorida.com/dbpr/re/documents/temporary_practice_appraiser_package.pdf As defined by Florida Statute 475.611(j), That states: a “federally related transaction” means any real estate related financial transaction that a federal financial institution’s regulatory agency or the Resolution Trust Corporation engages in, contracts for or regulates, which requires the services of a state licensed or state-certified appraiser. The regulatory agencies are: Board of Governors of the Federal Reserve System Department of Housing & Urban Development (HUD) Federal Deposit Insurance Corporation (FDIC) National Credit Union Administration Office of the Comptroller of the Currency Office of Thrift Supervision Resolution Trust Corporation Freddie Mac Fannie Mae So, anything, at least in Florida done for any type of non-private loan, exclusive of VA(?) is an FRT?