HUD to Allow Only Certified Appraisers on FHA Roster
July 29, 2011
The Department of Housing and Urban Development is seeking comment on a proposed rule requiring appraisers to be certified, rather than licensed, by a state appraisal licensing board in order to be placed on the FHA appraiser roster. Mandated by the Housing and Economy Recovery Act of 2008, the proposed requirement would supersede HUDs current practice of listing only state-licensed appraisers on the FHA roster. Although the practice complies with the statutory mandate, HUD believes the policy is outdated. There are approximately 55,000 state-certified appraisers on the FHA roster who would be ...