12 USC § 3349 - Violations in obtaining and performing appraisals in federally related transactions

---
identifier: "/us/usc/t12/s3349"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 3349 - Violations in obtaining and performing appraisals in federally related transactions"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "3349"
section_name: "Violations in obtaining and performing appraisals in federally related transactions"
chapter_number: 34
chapter_name: "APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Pub. L. 101–73, title XI, § 1120, Aug. 9, 1989, 103 Stat. 517.)"
---


# § 3349. Violations in obtaining and performing appraisals in federally related transactions

**(a)** **Violations** Except as authorized by the Appraisal Subcommittee in exercising its waiver authority pursuant to section 3348(b) of this title, it shall be a violation of this section—

**(1)** for a financial institution to seek, obtain, or give money or any other thing of value in exchange for the performance of an appraisal by a person who the institution knows is not a State certified or licensed appraiser in connection with a federally related transaction; and

**(2)** for the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or the Resolution Trust Corporation to knowingly contract for the performance of any appraisal by a person who is not a State certified or licensed appraiser in connection with a real estate related financial transaction defined in section 3350(5) of this title to which such association or corporation is a party.

**(b)** **Penalties** section 1818(i)(2) of this titlesection 1786(k)(2) of this title

A financial institution that violates subsection (a)(1) shall be subject to civil penalties under  or , as appropriate.

**(c)** **Proceeding** A proceeding with respect to a violation of this section shall be an administrative proceeding which may be conducted by a Federal financial institutions regulatory agency in accordance with the procedures set forth in subchapter II of chapter 5 of title 5.

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**Source Credit**: (Pub. L. 101–73, title XI, § 1120, Aug. 9, 1989, 103 Stat. 517.)