NMP - December 2016 - 29


er Professionals

29

While individual states license
and supervise appraisers, the
education requirements for the
profession are set by the
Appraisal Qualifications Board
(AQB) of The Appraisal
Foundation, which is authorized
by Congress as the source of
appraisal standards and
appraiser qualifications.

continued on page 32

n National Mortgage Professional Magazine n DECEMBER 2016

Barriers to entry
There are four categories of
appraisers:
l Trainee Appraiser
l Licensed Appraiser, who is
limited to the size, number
and value of homes that can
be appraised
l Certified Residential
Appraiser
l Certified General Appraiser,
who can also appraise
commercial properties.

Effective Jan. 1, 2015,
Certified Residential and
Certified General appraisers are
required to have a bachelor's
degree or higher from an
accredited college or university.
While the education requirement
for Licensed Appraisers is
lower, at 30 semester credit
hours of college education, a
number of states have
eliminated or are likely to
eliminate this category of
licensure. Combined with the
lack of advocacy at the
university level for valuation
curriculum, this is slowing entry
to the field.
The experience requirements
for accreditation range from
2,000 hours for Licensed
Appraiser to 3,000 hours for
Certified General Appraiser, at a
time when there are constraints
on the available apprenticeship
opportunities. The factors
involved include the reluctance "

NationalMortgageProfessional.com

integration with lender-specific
origination software. In these
ways, AMCs foster appraiser
productivity.



Table of Contents for the Digital Edition of NMP - December 2016

Contents
NMP - December 2016 - Cover1
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