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FHA Appraiser Roster Requirements

HUD · hud-fha · Published 2008-01-08 · Effective 2008-02-07 · 73 FR 1430

Document

Document number
08-8
Federal Register citation
73 FR 1430
CFR reference
24 CFR 200
Type
Rule
Action
Final rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
2008-01-08
Effective date
2008-02-07
Docket
Docket No. FR-5112-F-01

Abstract

This final rule explicitly conforms the eligibility requirements for applicants to the Federal Housing Administration (FHA) Appraiser Roster to longstanding HUD practices, as well as to existing nationwide industry practice. Only appraisers on the roster may perform required appraisals of properties that are to serve as security for FHA-insured single-family mortgages. Among other requirements, the current regulations require that an applicant must be a state-licensed or state-certified appraiser and pass a HUD examination on FHA appraisal methods and reporting. This final rule codifies HUD's longstanding practice and the nationwide practice that such certification or licensing comply with national criteria for education, experience, and passage of a state-administered examination. This final rule also eliminates the requirement for applicants to pass a HUD test on FHA appraisal methods and reporting, because the test has become duplicative of the national examination requirements for state licensure and certification and, therefore, unnecessary.

Source

Authoritative
Federal Register document
Machine
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