Don Clark
Elite Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Virginia
Once the President signs this bill, this will be the new requirements for FHA:
The text from the bill awaiting signature follows:
SEC. 1404. REVISED STANDARDS FOR FHA APPRAISERS. 7
Section 202(e) of the National Housing Act (12 8
U.S.C. 1708(e)) is amended by adding at the end the fol- 9
lowing: 10
‘‘(5) ADDITIONAL APPRAISER STANDARDS.— 11
Beginning on the date of enactment of the Federal 12
Housing Finance Regulatory Reform Act of 2008, 13
any appraiser chosen or approved to conduct ap- 14
praisals for mortgages under this title shall— 15
‘‘(A) be certified— 16
‘‘(i) by the State in which the prop- 17
erty to be appraised is located; or 18
‘‘(ii) by a nationally recognized profes- 19
sional appraisal organization; and 20
‘‘(B) have demonstrated verifiable edu- 21
cation in the appraisal requirements established 22
by the Federal Housing Administration under 23
this subsection.’’.
Here is a link to the full bill:
http://www.house.gov/apps/list/press/financialsvcs_dem/hr3221_bill_text.pdf
The text from the bill awaiting signature follows:
SEC. 1404. REVISED STANDARDS FOR FHA APPRAISERS. 7
Section 202(e) of the National Housing Act (12 8
U.S.C. 1708(e)) is amended by adding at the end the fol- 9
lowing: 10
‘‘(5) ADDITIONAL APPRAISER STANDARDS.— 11
Beginning on the date of enactment of the Federal 12
Housing Finance Regulatory Reform Act of 2008, 13
any appraiser chosen or approved to conduct ap- 14
praisals for mortgages under this title shall— 15
‘‘(A) be certified— 16
‘‘(i) by the State in which the prop- 17
erty to be appraised is located; or 18
‘‘(ii) by a nationally recognized profes- 19
sional appraisal organization; and 20
‘‘(B) have demonstrated verifiable edu- 21
cation in the appraisal requirements established 22
by the Federal Housing Administration under 23
this subsection.’’.
Here is a link to the full bill:
http://www.house.gov/apps/list/press/financialsvcs_dem/hr3221_bill_text.pdf
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