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HUD Definition of Certified

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BRCJR

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Elite Member
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Professional Status
Licensed Appraiser
State
Virginia
4150.2
7 REGULATORY ENVIRONMENT, ENFORCEMENT AND SANCTIONS
7-0 INTRODUCTION
This chapter describes the regulatory environment in which FHA
single-family appraisals are performed and the enforcement and
sanctions that are available to HUD and other government entities
in that environment. Appraisers are subject to:
o federal laws and regulations
o state licensing laws and regulations
o the requirements associated with any professional appraisal
designations
This chapter enumerates these requirements and explains their
connection to HUD's enforcement and sanctions processes.
7-1 REGULATORY ENVIRONMENT
A. FINANCIAL INSTITUTIONS REFORM, RECOVERY, ENFORCEMENT
ACT OF 1989 ("FIRREA")
FIRREA instituted reform and regulation of real estate
appraising through Title XI, the Real Estate Appraisal
Reform Amendments. The amendments achieved the following:
o established the Appraisal Foundation, comprising the
Appraiser Qualifications Board (AQB) and the Appraisal
Standards Board (ASB):
- The AQB determines the minimum education,
examination and experience requirements for state-
certified and state-licensed appraisers.
- The ASB promulgates the Uniformed Standards of
Professional Appraisal Practice (USPAP).
o required that only a state-certified or state-licensed
appraiser may perform appraisals for federally related
transactions
o established that an appraiser trainee can sign an
appraisal if a state-certified or state-licensed
appraiser closely supervises the trainee, signs the
appraisal report and inspects the property


"o established the definition of a "state-certified real
estate appraiser" as someone who has satisfied the
requirements in a state or territory whose criteria for
certification meets the minimum criteria for
certification by the Appraiser Qualification Board of
the Appraisal Foundation"

o established the state agencies to license, certify and
supervise appraisers
7-1
 

Doug Wegener

Senior Member
Joined
Apr 14, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
What does certified by a "nationally recognized appraisal organization" mean?
 

BRCJR

Thread Starter
Elite Member
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Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
What does certified by a "nationally recognized appraisal organization" mean?

I have no idea and wonder if the bill writer(s) does either.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware

David Howarth

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Professional Status
Certified Residential Appraiser
State
Michigan
I just got off the phone with someone from HUD and she stated that HUD has not come out with an official response to that issue as of yet. They do know about the instructor at the 2008 FHA National Lender Training Conference, Back to Basics" and the statements made. She said those statements were false and what she could say is that there will not be any appraisers removed from the roster but we will have to wait for the complete statement from the president of HUD to come out to clarify. She added that what HUD is probably going to view the word Certified as; an appraiser who has met the requirements of HUD and therefore on the roster would be considered to be certified to do FHA inspections. She did warn to be very careful in what is being said about this issue until the official statement comes from the president of HUD. False statements to lenders in order to receive another appraisers business could result in civil lawsuits from any appraiser injured by those statements.

This whole issue is turning into a lot of hearsay and until someone can produce the official response from HUD themselves, it seems we are wasting our breath (or in this case finger tips)
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
They do know about the instructor at the 2008 FHA National Lender Training Conference, Back to Basics" and the statements made. She said those statements were false.....

Well.. When you can't trust the statements from the horses mouth
.....POLITICS are involved, and the end result is anyone's guess, or rather, knowing who holds the high cards in the game.
.
Somehow this whole thing strikes a chord.
...................... Anyone read Ayn Rand's Atlas Shrugged lately ??? :icon_idea:
.
 

Doug Wegener

Senior Member
Joined
Apr 14, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
Certified

I just got off the phone with someone from HUD and she stated that HUD has not come out with an official response to that issue as of yet. They do know about the instructor at the 2008 FHA National Lender Training Conference, Back to Basics" and the statements made. She said those statements were false and what she could say is that there will not be any appraisers removed from the roster but we will have to wait for the complete statement from the president of HUD to come out to clarify. She added that what HUD is probably going to view the word Certified as; an appraiser who has met the requirements of HUD and therefore on the roster would be considered to be certified to do FHA inspections. She did warn to be very careful in what is being said about this issue until the official statement comes from the president of HUD. False statements to lenders in order to receive another appraisers business could result in civil lawsuits from any appraiser injured by those statements.

This whole issue is turning into a lot of hearsay and until someone can produce the official response from HUD themselves, it seems we are wasting our breath (or in this case finger tips)

I dont think the person you talked to at HUD has the foggiest notion. The first part of the statute says "certified by the state" and thats pretty clear. What is not clear is the second part and the grandfathering part.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
She added that what HUD is probably going to view the word Certified as; an appraiser who has met the requirements of HUD and therefore on the roster would be considered to be certified to do FHA inspections

Since they did away with the test the only requirement of HUD that is left is that the appraiser be licensed or certified.

:Eyecrazy:
 

BRCJR

Thread Starter
Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
I dont think the person you talked to at HUD has the foggiest notion. The first part of the statute says "certified by the state" and thats pretty clear. What is not clear is the second part and the grandfathering part.

From 4150:

"o established the definition of a "state-certified real
estate appraiser" as someone who has satisfied the
requirements in a state or territory whose criteria for
certification meets the minimum criteria for
certification by the Appraiser Qualification Board of
the Appraisal Foundation"

Why do they need to 'grandfather" if you meet their definition?
 
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