Appraisers For Federal Government Foreclosure Prevention Program

The Federal Government recently allocated funds to fight foreclosures nationwide. How will that affect refinancing, house appraisals, and the requirements for appraisers and residential real estate appraisal requirements in light of measures to stop foreclosures?

There are certain requirements for appraisers who are interested in participating in this Government program.

In order to qualify for placement on the FHA Appraiser Roster or retain an active status on the FHA Appraiser Roster, an appraiser must meet certain requirements. On the FHA connection, a secure HUD website, an appraiser roster application is used for applying for placement on the FHS Appraiser Roster. An appraiser with an active status on the FHA Appraiser Roster uses FHA Appraiser Roster update/renewal or addition of a state license or certification. Appraisers with an active status are on the appraisers list on the HUD website.

The appraiser’s information is checked in several federal systems when the FHA Appraiser Roster application or FHA Appraiser Roster renewal or update is processed.

To qualify an appraiser must be a state licensed or certified real estate appraiser with credentials based on the criteria established by the Appraiser Qualifications Board of the Appraisal Foundation. The National Registry of the appraisal subcommittee of the Federal Financial Institutions Examination Council must have a record of the appraisal’s current state license or certification.

See: Applying for placement on the FHA Appraiser Roster and maintaining your FHA Appraiser Roster information for details.