Oklahoma Real Estate Appraiser Board

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Frequently Asked Questions

On January 24, 2012 the Appraiser Qualification Board (“AQB”) issued a Press Release outlining future changes to the Real Property Appraiser Qualification Criteria which were adopted at the December 2011 meeting of the AQB.  The following criteria changes will be effective January 1, 2015:

A summary of the changes to the Criteria include:

• Education and experience will have to be completed prior to taking the National Uniform Licensing and Certification Examinations;
• Applicants for the Certified Residential and Certified General classifications will have to possess a Bachelor’s degree or higher from an accredited college or university;
• Applicants for the Licensed Residential classification will have to have successfully completed 30 semester hours of college-level education from an accredited college, junior college, community college, or university, or  have an Associate’s degree or higher from an accredited college, junior college, community college, or university;
• All candidates will be required to undergo a background check;
• Recognition of approved university degree programs as counting toward the education requirements in the Real Property Appraiser Qualification Criteria;
• Removal of the “Segmented” Approach to the Real Property Appraiser Qualification Criteria implementation;
• Prohibition of repetitive continuing education in the same continuing education cycle;
• Clarification of the term “written examination”;
• Revisions to the Trainee Appraiser classification that will include a requirement to take a course oriented to the requirements and responsibilities of Trainee Appraisers and Supervisory Appraisers;
• New Supervisory Appraiser requirements;
• Revisions to Guide Note 1; and
• Additions to the illustrative list of educational topics acceptable for continuing education.

A more detailed summary of the changes to the Criteria is available at the following link:  
https://appraisalfoundation.sharefile.com/d/sd2f26fafefe402ab.

Any questions on the Real Property Appraiser Qualification Criteria and the work of the Appraiser Qualifications Board can be directed to Magdalene Vasquez, Qualifications Administrator at 202.624.3074.
 

The 2012-2013 version of USPAP has been released: The Appraisal Foundation has established an e-library of informational videos and training sessions.  A short 23 minute video of the changes to USPAP adopted on April 8, 2011 can be found at www.appraisalfoundation.org or by clicking this link.
 

ATTENTION NON-AQB COMPLIANT STATE LICENSED APPRAISERS

Please note that effective July 1, 2013 the Real Property Appraiser Qualification Criteria for State Licensed Appraisers will change.

As of that date, in order for a state licensed appraiser to remain actively listed on the National Registry, that individual must satisfy current AQB Criteria.  Licensed appraisers currently listed as AQB Compliant will remain actively listed on the National Registry; their current status will not be affected.  Non-AQB Compliant licensed appraisers will be mandatorily listed as inactive.

If you are not currently AQB Compliant and wish to remain active on the National Registry you MUST upgrade your appraiser credential. This can be accomplished in one of two ways:

1) You can apply for upgrade to Certified Residential or Certified General; or        
2) You can apply for upgrade to AQB Compliant.  

The Appraiser Qualification Criteria outlining upgrade requirements with regard to education and work product review is available here.

If you would like an information packet to be mailed to you with regard on how to upgrade; want to confirm whether or not you are currently AQB Compliant; or have any additional questions or concerns that have not been answered here, please contact Board staff at reabadmin@oid.ok.gov (please email all packet requests) or call us at (405) 521-6636.  

The above referenced Appraisal Subcommittee Bulletin is available here.
 

ATTENTION TRAINEE AND STATE LICENSED APPRAISERS

At the recent Association of Appraiser Regulatory Officials’ (AARO) Fall Conference, we learned of future changes to the Appraiser Qualification Criteria that may affect your ability to upgrade.  At this conference, Appraisal Subcommittee (ASC) staff and members of the Appraiser Qualifications Board (AQB) spoke at length of upcoming changes, including the following:

Effective January 1, 2015, the “in lieu of” opportunity set forth in the Appraiser Qualification Criteria with regard to college education requirements will be eliminated.  What this means is that any future applicants wishing to apply for original licensure and/or upgrade must have an Associate’s Degree or higher to upgrade to Certified Residential and a Bachelor’s Degree or higher to upgrade to Certified General.  The Board will no longer be able to accept “successful completion of seven specific college courses of three semester hours totaling twenty-one hours” for Certified Residential applications or “successful completion of ten specific college courses of three semester hours totaling thirty hours” for Certified General applications, as outlined in the current Criteria.

If you have any additional questions or would like an information packet to be mailed to you with regard to upgrade, please contact Board staff at reabadmin@oid.ok.gov or call us at (405) 521-6636.  
 

CHANGES AFFECTING APPRAISAL

There have been numerous recent changes that affect the appraisal industry, in general, and appraisers specifically.  The following is a list of some of those changes with links to specific websites.

Dodd-Frank Financial Reform Bill (HR-4173)
Signed By President Obama on July 21, 2010 - 2300 Pages

FAQ’s with regard to appraisal issues published by The Appraisal Institute, September 2010

FNMA Announcement SEL-2010-14 October 15, 2010

Appraiser Independence Requirements - this announcement is effective immediately.

FNMA Appraiser Independence Requirements

Frequently Asked Questions (FAQs) November 2010

Interagency Appraisal and Evaluation Guidelines
The Guidelines were effective December 10, 2010 and were promulgated by these agencies:

Office of the Comptroller of the Currency, Treasury (OCC);
Board of Governors of the Federal Reserve System (FRB);
Federal Deposit Insurance Corporation (FDIC);
Office of Thrift Supervision, Treasury (OTS);
National Credit Union Administration (NCUA)

View the Guidelines