Returning appraisal regulations back to the individual states would be counterproductive, according to James Park, executive director of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Park and other experts spoke about the need for standardization and modernization at a hearing in the House Financial Services Committee this week. “Replacing the federal system with a state-based system would confuse, not streamline,” he said, noting that the “cornucopia” of statutes and guidelines are confusing and burdensome for everyone. Bill Garber, director of government and external relations at the Appraisal Institute, agreed...