Finance
FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) affected real estate by:
ACreating FHA mortgage insurance
BEstablishing appraisal requirements and licensing standards for federally related transactions✓ Correct
CRequiring environmental disclosures
DCreating the Consumer Financial Protection Bureau
Explanation
FIRREA established appraisal requirements for federally related transactions and led to the creation of state appraiser licensing and certification programs.
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