BREA News and Announcements

Customary and Reasonable Fees

BREA has no legal authority to enforce provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 related to Customary and Reasonable Compensation for Fee Appraisers. The Dodd-Frank Act established the Consumer Financial Protection Bureau (CFPB), and many of the pieces of the Dodd-Frank Act relating to the CFPB went into effect on July 21, 2011. For more information, please go to: http://www.consumerfinance.gov/.

Until such time as the CFPB's enforcement authority is fully implemented, violations of Customary and Reasonable Compensation provisions should be reported to:

Board of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
(202) 452-2412

Broker Price Opinions, Value Reconciliation, and other Alternative and Preliminary Valuation Products

Appraisal Updates and/or Completion Reports on Fannie Mae Form 1004D/Freddie Mac Form 442

Appraiser Independence Requirements from FannieMae and Freddie Mac