The Appraisal Foundation’s Appraisal Standards Board (ASB) has issued a new set of USPAP Q&As to state and territory appraisal regulators to inform them of the ASB responses to questions raised by regulators and individuals; to illustrate the applicability of USPAP in specific situations; and to offer advice from the ASB for the resolution of appraisal issues and problems.
Q: I am a practicing real estate appraiser and prepare my appraisals in compliance with USPAP STANDARD 1. However, I am not required to report the results of my appraisals in compliance with USPAP STANDARD 2. Can I still receive credit for experience for the hours I spent in the development process of the appraisals?
A: No. There is no allowance for an appraisal that is prepared in compliance with STANDARD 1 but not reported in accordance with STANDARD 2. The term “partially USPAP compliant” does not exist in the Real Property Appraiser Qualification Criteria. In order to earn experience credit, appraisals must be prepared and reported in compliance with STANDARDS 1 and 2.
Q: I am currently a real property appraiser seeking a credential in my jurisdiction. I do not have a high school diploma, but have obtained an associate’s degree and a bachelor’s degree from an accredited university. Will I be able to obtain my real property credential without having a high school diploma?
A: Yes, the Criteria do not require a high school diploma or equivalent. However, please note that individual states or credentialing jurisdictions may adopt more stringent requirements. It is incumbent on the candidate to check with the state appraiser regulatory agency in which they plan to seek a credential.
Q: I am a practicing real property appraiser in a jurisdiction that allows appraisers to take the National Uniform Licensing and Certification Examination prior to completing the experience requirements. I understand the results of successfully passing the examination are valid for a period of 24 months following the date of notification. If I successfully pass the examination on or prior to Dec. 31, 2014, will I be able to obtain my certification in 2015 without having to meet all of the other requirements that become effective as of Jan. 1, 2015?
A: No. Any applicant for a credential on or after Jan. 1, 2015 must meet all the 2015 Criteria. However, the Criteria do not require you to re-take the examination if you have passed it within the 24 months prior to the state’s final approval of your education (college and qualifying education) and experience. Please note that individual states or credentialing jurisdictions may adopt more stringent requirements. It is incumbent on the candidate to check with the state appraiser regulatory agency in which they plan to seek a credential.
Q: I am a practicing real property appraiser and I was disciplined by my state regulatory agency five years ago. I am currently in good standing in that jurisdiction and want to know if I am eligible to become a supervisor or supervise a new trainee as of Jan. 1, 2015?
A: If an individual wishes to either become a supervisor or supervise a new trainee as of Jan. 1, 2015, the Criteria would require a state to review the three-year period immediately preceding the individual’s application/request to become a supervisor. The 2015 Criteria require supervisory appraisers to be “state-certified and in ‘good standing’ in the jurisdiction in which the trainee appraiser practices for a period of at least three years. Supervisory appraisers shall not have been subject to any disciplinary action within any jurisdiction within the last three years that affects the supervisory appraiser’s legal eligibility to engage in appraisal practice. A supervisory appraiser subject to a disciplinary action would be considered to be in ‘good standing’ three years after the successful completion/termination of the sanction imposed against the appraiser.”
Example: An individual wishes to become a supervisory appraiser (or supervise a new trainee) on July 1, 2015. However, this individual had a 60-day suspension, ending on March 31, 2014. This individual would not be able to become a supervisory appraiser (or supervise a new trainee) until March 31, 2017 (three years after the end date of the disciplinary action). An individual who is already a supervisor but receives a disciplinary sanction prior to Jan. 1, 2015, would not automatically lose his or her ability to supervise the trainee(s) on Jan. 1, 2015. However, if a jurisdiction precludes an individual from supervising due to the sanction, the individual would have to comply with all supervisory appraiser criteria as of Jan. 1, 2015.
If a state issues a sanction which is essentially a “lifetime” action, that individual would be precluded from being a supervisor for any new trainees after January 1, 2015. Please note that individual states or credentialing jurisdictions may adopt more stringent requirements. It is incumbent on the candidate to check with the state appraiser regulatory agency in which they plan to supervise a trainee.