Me Appraisal Institute is readying a lawsuit that will make fundamental challenges to the federal regulations implementing the appraisal requirements set by the Financial Institutions Reform Recovery and Enforcement,act of 1989.

The smaller National Association of Independent Fee Appraisers already has filed suit challenging the increase by banking and thrift regulators to 100.000 - the threshold value of residential properties for which appraisals must be done by licensed or certified appraisers.

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