LOL. Alan, are you checking answers for the 15 hour USPAP exam?
The Appraisal Subcommittee's (ASC) Mission Statement: To provide federal oversight of State appraiser regulatory programs and a monitoring framework for the Appraisal Foundation and the Federal Financial Institutions Regulatory Agencies in their roles to protect federal financial and public policy interests in real estate appraisals utilized in federally related transactions.
The ASC is likely the most misunderstood player in the appraiser regulatory system. That is likely because most appraisers have little or no interaction with the ASC.
The ASC has oversight responsibility for state appraiser regulatory agencies. The job of the ASC is to make sure that states have policies and procedures in place, in compliance with FIRREA.
The ASC not, however, a source for appeals or re-hearings of state board decisions.
You state - "The ASC does have the responsibility and authority to ensure USPAP compliance by the state boards." What does that even mean? What is "USPAP compliance by a state board?" The actions of state boards are dictated by local administrative law, not by USPAP.