Introduction
Proposed Changes to the Real Property Appraiser Qualification Criteria (Criteria)
In this First Exposure Draft, the AQB is proposing two types of changes to the Criteria:
In this First Exposure Draft, the AQB is proposing two types of changes to the Criteria:
- Adding Qualifying Education (QE) and Continuing Education (CE) requirements for course work in valuation bias and fair housing laws and regulations.
- Revising and updating the name of the current 7-Hour National USPAP Update Course.
Adding Qualifying Education and Continuing Education requirements for course work in valuation bias and fair housing laws and regulations.
Under the provisions of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Appraiser Qualifications Board (AQB) establishes the minimum education, experience, and examination requirements for real property appraisers to obtain a state license or certification as well as Supervisory Appraiser requirements. The AQB regularly solicits and receives comments and suggestions for improving the Real Property Appraiser Qualification Criteria (Criteria).
Concerns relating to discrimination, fair housing law violations and real property appraisals have become important topics across the housing industry and the appraisal profession. While these are complex issues, many of which go beyond the scope of the Criteria, a wide range of stakeholders have urged the AQB to require, as part of both an appraiser’s qualifying and continuing education, courses on valuation bias and fair housing laws and regulations.
For example, one major stakeholder includes the White House task force known as PAVE (Property Appraisal and Valuation Equity). PAVE issued an action plan in early 2022 that includes recommendations to the AQB to add education on these topics for all credentialed and aspiring appraisers.
Under the provisions of Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Appraiser Qualifications Board (AQB) establishes the minimum education, experience, and examination requirements for real property appraisers to obtain a state license or certification as well as Supervisory Appraiser requirements. The AQB regularly solicits and receives comments and suggestions for improving the Real Property Appraiser Qualification Criteria (Criteria).
Concerns relating to discrimination, fair housing law violations and real property appraisals have become important topics across the housing industry and the appraisal profession. While these are complex issues, many of which go beyond the scope of the Criteria, a wide range of stakeholders have urged the AQB to require, as part of both an appraiser’s qualifying and continuing education, courses on valuation bias and fair housing laws and regulations.
For example, one major stakeholder includes the White House task force known as PAVE (Property Appraisal and Valuation Equity). PAVE issued an action plan in early 2022 that includes recommendations to the AQB to add education on these topics for all credentialed and aspiring appraisers.