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Appraiser board proposes revisions to Real Property Appraiser Qualification Criteria
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The Appraisal Foundation’s Appraiser Qualifications Board (AQB) announced proposed revisions to the 2015 Real Property Appraiser Qualification Criteria (Criteria) on May 22.
The proposed changes pertain to required background checks for new applicants for a real property appraiser credential. The initial AQB requirements adopted in December 2011 were derived verbatim from the Secure and Fair Enforcement for Mortgage Licensing (S.A.F.E.) Act of 2008.
However, many found the language in the S.A.F.E. Act to be unsuitable in its entirety.
The AQB received feedback that suggested changes be made in the Criteria’s language to place the onus of responsibility for the background checks on the state appraiser regulatory agencies rather than the applicants themselves. The AQB issued a First Exposure Draft to propose changes in language in response to this feedback.
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