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To participate in a "federally-related transaction," such as a mortgage underwritten by a national bank, an appraiser must be licensed or certified by their state. This assures the client that the appraiser has completed the required coursework and training, and has passed the state examination. Once licensed the appraiser must complete ongoing Continuing Education Training to stay knowledgable with changes in the profession. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of appraisers and their license/certification status. It is available publicly at this link. Among other things, this database, will tell you if an appraiser you are considering has had his or her license suspended, revoked, or whether the license has lapsed. You can rest assured that our appraiser's licenses are current and in good standing! Appraisal Ethics Licensed and Certified real estate appraisers have acquired a high level of knowledge and competency in their field and have met and passed both state and federal governmental regulations and exams required to hold these titles. Appraisers are required by law to sustain this level of competency through continuing education. This helps them to stay abreast of continual changes in the marketplace as well as in the laws that govern the profession. Above all, the appraiser must behave in a professional and ethical manner by following the Uniform Standards of Professional Appraisal Practice (USPAP declares a set of general Rules governing all disciplines of appraisal practice: The Ethics Rule, the Competency Rule, the Scope of Work Rule, the Jurisdictional Exception Rule, and the Supplemental Standards Rule. It then sets forth 10 appraisal Standards, each containing a number of Standards Rules). With Keystone Appraisal Group, Inc., you can be assured of 100 percent ethical, honest service. |
Appraiser Licensing & Certification