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Resolution Trust Corporation: Better Qualified Review Appraisers Needed

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Report Type Reports and Testimonies
Report Date April 23, 1992
Report No. GGD-92-40BR
Subject
Summary:

The Resolution Trust Corporation's (RTC) approach to hiring in-house review appraisers gives field office officials much latitude in selecting the most qualified applicants. Other than a general job description, RTC has no specific hiring criteria for these positions, and applicants need submit only limited supporting data on their appraisal education and experience. GAO discovered that almost 70 percent of RTC's new appraisers do not have enough appraisal experience, a situation that raises concerns about the reasonableness and accuracy of RTC's contract appraisals. GAO makes several recommendations for improving RTC's in-house appraisal review process.

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