---
type: "LegalText"
title: "12 U.S.C. § 3349"
description: "Violations in obtaining and performing appraisals in federally related transactions"
jurisdiction: "us"
corpus: "united_states_code"
kind: "code_section"
title_number: 12
title_name: "BANKS AND BANKING"
chapter_number: "34A"
chapter_name: "APPRAISAL SUBCOMMITTEE OF FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL"
section: "3349"
citation: "12 U.S.C. § 3349"
status: "current"
release_point: "119-100"
release_date: "2026-06-26"
source: "official"
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
source_identifier: "/us/usc/t12/s3349"
source_file: "data/legal/raw/us/code/title-12/usc12.xml"
source_hash: "a585c5b46f5edd04a55fe18fe4fbeeb7c0086ebbb7f19f8148e51a679ba3707d"
raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
text_hash: "7382b5fab485726754f765704b4fb4fa3986cc0a6f31ad32e7cdc05c6f6cdca6"
retrieved_at: "2026-07-04"
confidence: "official"
tags: ["legal", "us-code"]
---

# 12 U.S.C. § 3349 - Violations in obtaining and performing appraisals in federally related transactions

## Text

(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 A financial institution that violates subsection (a)(1) shall be subject to civil penalties under section 1818(i)(2) of this title or section 1786(k)(2) of this title, 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.

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