Appraisals utilized by federally regulated lenders must conform to which standards?

Appraisals utilized by federally regulated lenders must conform to the Uniform Standards of Professional Appraisal Practices (USPAP). This set of standards is crucial as it provides guidelines that ensure the integrity and consistency of appraisals across the industry. USPAP covers various aspects, including ethical obligations, competency, and the methods and techniques used in the appraisal process, ultimately ensuring that appraisals are credible and reliable for lending purposes.

Additionally, it is essential to note that while the other options may encompass important aspects of real estate practice, they do not specifically apply to the appraisal standards required by federally regulated lenders. General Acceptance Standards could denote various principles but lacks the specificity of USPAP. Fair Housing Act Guidelines are focused on anti-discrimination in housing, and the NAR Code of Ethics pertains more to the conduct of REALTORS® rather than appraisal practices. Therefore, USPAP is the authoritative standard that federally regulated lenders must follow to ensure compliance and maintain trust in the appraisal process.