---
kind: "section"
citation: "12 U.S.C. § 3349"
title: "12"
title_heading: "Banks and Banking"
number: "3349"
heading: "Violations in obtaining and performing appraisals in federally related transactions"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/3349"
units:
  - "Chapter 34A — Appraisal Subcommittee of Federal Financial Institutions Examination Council"
---

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

- (a) **Violations—** Except as authorized by the [Appraisal Subcommittee](/usc/12/3350.md?p=2) in exercising its waiver authority pursuant to [section 3348(b) of this title](/usc/12/3348.md?p=b), it shall be a violation of this section—
  - (1) for a [financial institution](/usc/12/3350.md?p=7) to seek, obtain, or give money or any other thing of value in exchange for the performance of an appraisal by a [person](/usc/12/5481.md?p=19) who the institution knows is not a [State](/usc/12/1707.md?p=d) certified or licensed appraiser in connection with a [federally related transaction](/usc/12/3350.md?p=4); and
  - (2) for the Federal National [Mortgage](/usc/12/1707.md?p=a) Association, the Federal Home Loan [Mortgage](/usc/12/1707.md?p=a) Corporation, or the Resolution Trust Corporation to knowingly contract for the performance of any appraisal by a [person](/usc/12/5481.md?p=19) who is not a [State](/usc/12/1707.md?p=d) certified or licensed appraiser in connection with a [real estate](/usc/12/1707.md?p=g) related financial transaction defined in [section 3350(5) of this title](/usc/12/3350.md?p=5) to which such association or corporation is a party.
- (b) **Penalties—** A [financial institution](/usc/12/3350.md?p=7) that violates [subsection (a)(1)](#a-1) shall be subject to civil penalties under [section 1818(i)(2) of this title](/usc/12/1818.md?p=i-2) or [section 1786(k)(2) of this title](/usc/12/1786.md?p=k-2), 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](/usc/12/3350.md?p=7) regulatory agency in accordance with the procedures set forth in subchapter II of chapter 5 of title 5.

## Source credit

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