Which of the following entities has Congressional authority to develop and enforce appraisal standards and appraiser qualifications?

The Appraisal Foundation (TAF) is the entity granted Congressional authority to establish and enforce appraisal standards and appraiser qualifications. It was created through the sponsorship of various appraisal organizations and has a significant role in setting the standards in the appraisal profession. TAF's influence comes from its responsibility for developing the Uniform Standards of Professional Appraisal Practice (USPAP), which is essential for maintaining quality and integrity within the industry. TAF’s standards are recognized by federal regulatory bodies, making its role crucial for appraisers across the nation.

In contrast, the other entities mentioned have different functions. The National Association of Realtors primarily focuses on promoting the interests of real estate professionals, while the Appraisal Institute provides education and professional development for appraisers but does not have Congressional authority. The Federal Housing Finance Agency, while involved in regulating government-sponsored enterprises and overseeing the housing finance system, is not responsible for establishing appraisal standards itself. Therefore, TAF's unique role and authority in this area make it the correct answer.