Appraisal Ace Blog

Conversation with NAR about HR 3221
July 31st, 2008 10:04 PM

 

This afternoon, Jerry Nagy, who is the Regulatory Policy Representative for the National Association of Realtors, called me to talk about the passage of HR 3221 and the last minute insertion of an amendement that concerns changes to FHA appraiser requirements.

 
He had just gotten off of a conference call that included HUD, members of the NAR appraisal panel and others, discussing the new FHA appraiser requirements. The consensus, at least by NAR, is that the words "certified" and "designation" need clarification and that current FHA roster appraisers may not be required to become certified or designated, but that all new applicants would be required to be state certified or designated. HUD was not willing to make a definitive statement about what it all means and remained non-commital, I'm sure because they haven't quite figured it out yet either. 
 
Mr. Nagy also stated that in order to create a minimum amount of disruption, the implementation will probably be a slow implementation with plenty of discussion and ample time for those who are not certified or designated to become so. A large percentage of FHA appraisers are at the licensed only level.

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Posted by William McKnight on July 31st, 2008 10:04 PMPost a Comment

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