To amend title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to extend the phase-in period under such title by 1 year, and for other purposes.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1991 to extend the phase-in period for State licensed appraisals.

Prohibits the Appraisal Subcommittee from establishing a minimum experience requirement in excess of 500 hours as a licensing standard or qualification for State licensed appraisers.