Oklahoma Real Estate Appraiser Board

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Frequently Asked Questions

 2012-2013 USPAP UPDATE

The deadline for Oklahoma appraisers to complete the 2012-2013 7-hour USPAP update is December 31, 2012. Your course completion certificate must be received by the Board’s staff office no later than close of business on December 31, 2012.

If you fail to take the 2012-2013 USPAP update by the December 31st deadline, or do not timely submit your course completion certificate, you may be subject to an administrative penalty. If you have not already done so, please look into getting your class scheduled as soon as possible. Course announcements are available on our website.

Attached is the finalized report from the Appraisal Subcommittee's 2011 compliance audit of the Oklahoma Real Estate Appraiser Board ("OREAB").  The review details that OREAB is in complete compliance in all areas reviewed.  Please feel free to view the entire document here. 

On January 24, 2012 the Appraiser Qualification Board (“AQB”) issued a Press Release outlining future changes to the Real Property Appraiser Qualification Criteria.

The following criteria changes will be effective January 1, 2015:

• 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.

 

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.

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

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