The Uniform Standards of Professional Appraisal Practice (USPAP) has been at the center of a tug of war for some time. On one side is the Appraisal Qualifications Board (AQB) of the Appraisal Foundation, which wants ultimate control over USPAP course materials and providers. On the other side are the states, which like to make their own rules.
Each state has its own USPAP requirements for license renewal. (States are mandated under Title XI (FIRREA) to have appraisal licensing and certification programs.) Some states are satisfied with four hours of continuing education while others require 15 hours. The Appraisal Foundation, which is comprised of the Appraisal Qualifications Board (AQB) and the Appraisal Standards Board (ASB), is not a government agency and has no legal authority to establish or enforce laws. Because it has no power over state legislators or the various state offices of real estate appraisal, the Foundation, and its overseer – the Appraisal Subcommittee (ASC) of the U.S. Congress, have had to exert their considerable influence to get states to conform to the desires and recommendations of the AQB regarding licensing and renewal. Some states are not very happy about the new approach.
Meet the New Boss
So far, the Foundation has been very successful in its efforts. The AQB now controls the process. Here are the new rules, effective January 1, 2003. The new instructor’s course, reviewed here, is written and taught by the ASB, which is charged with keeping USPAP updated.