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July 13, 2016

AQB Alters Supervisory Appraiser Criteria

The Appraiser Qualifications Board of The Appraisal Foundation on June 24 adopted changes to the Real Property Qualification Criteria, which alters the minimum requirements for supervisory appraiser qualification.

Under the new minimum requirements, appraisers can become supervisory appraisers once they’ve been state-certified in any jurisdiction for three years. Previously, supervisory appraisers were required to be state-certified in the jurisdiction in which a trainee appraiser practices for a minimum of three years. The change took effect July 1.

In announcing the change, the AQB stated, “Because the AQB sets the minimum requirements, state appraiser regulatory agencies having requirements that exceed AQB Criteria will remain in compliance, since the July 1, 2016 change does not exceed current requirements.”

This change is unlikely to have any significant impact because nearly all states enacted legislation and regulation to adopt the requirement that supervisory appraisers be certified in their jurisdiction for a period of three years when the AQB adopted changes to the criteria in December 2011. Those changes took effect Jan. 1, 2015. States will have to amend their laws and regulations for the new criteria changes to have any effect.

Review the AQB’s changes regarding supervisory appraisers.

In related news, the AQB at its June 24 meeting reviewed the more than 300 written comments it received in response to its May 18 first exposure draft of Proposed Changes to the Real Property Appraiser Qualification Criteria. The Appraisal Institute submitted commentson June 17. (Log-in required)

The exposure draft suggests additional changes to the criteria, focusing on five specific areas:

  • Alternative track for licensed residential to certified residential
  • Practical applications
  • Alternative experience
  • “Trainee” nomenclature
  • Three-year supervisory residency requirement

The Appraisal Institute stated in its comments on the exposure draft, “TAF and the AQB should reevaluate its programming as it relates to the business and regulatory climate imposed on appraisers” and that “The goal should be to avoid adding more layers of rules (e.g., background check requirements without efficient means for processing such requirements) and new regulatory regimes and liabilities (codified methodology).” AI also stated, “TAF and its boards should focus their attention to TAF’s core mission of establishing minimum appraiser qualifications and standards, and to remove unnecessary and inappropriate regulatory burdens on appraisers.”

The AQB said that most of the exposure draft comments it received focused on a possible alternative track for experienced licensed residential appraisers who lack a four-year degree but want to move to the certified residential level. The AQB has extended the comment deadline to July 31.

The AQB said it would host a webinar on Aug. 25 to review and discuss the comments. Once all the feedback on the exposure draft has been reviewed, the AQB will determine whether one or more additional exposure drafts will be necessary.

If any of the proposed changes are adopted, states will once again have to change their laws and regulations to implement the new AQB minimum criteria.

 View the AQB’s first exposure draft on Proposed Changes to the Real Property Appraiser Qualification Criteria

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