Any person who performs an appraisal review shall be licensed or certified by the board or by another state, provided that if a value opinion is provided, the person must be licensed by the board.
#CFM EN OPLC PROFESSIONAL#
The term does not include: (a) A general examination of an appraisal for grammatical, typographical, mathematical or other similar administrative errors and (b) A general examination for completeness, including regulatory or client requirements as specified in the agreement process that do not involve the appraiser's professional judgment, including compliance with the elements of the client's statement of work.ĪPPRAISAL REVIEW. (B) A general examination for completeness, including regulatory or client requirements as specified in the agreement process that does not communicate an opinion of value.ĥ4-4104(4) Appraisal review means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review assignment. (A) A general examination for grammatical, typographical, or other similar errors (7) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment and is related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the uniform standards of professional appraisal practice. Sec 106(a)(3) Any employee of or independent contractor to the appraisal management company who performs an appraisal review for a property located in the District must be a certified or licensed appraiser in good standing in the District and Sec 106(b)An appraisal management company that has a reasonable basis to believe an appraiser has materially failed to comply with applicable laws or rules or has materially violated the USPAP shall refer the matter to the Department in conformance with applicable federal laws and regulations. 5/8 I certify that this appraisal management company has a system in place to review the work of all independent appraisers that are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP. This subsection shall not prohibit an individual who is not so licensed or certified from performing job functions that (1) are confined to an examination of an appraisal or an appraisal report for grammatical, typographical or clerical errors, and (2) do not involve the formulation of opinions or comments about (A) the appraiser's data collection, analyses, opinions, conclusions or valuation, or (B) compliance of such appraisal or appraisal report with the USPAP. (b) Any employee of an AMC or any contractor working on behalf of such company who has any involvement in the performance of appraisals in this state or review and analysis of completed appraisals in this state shall be licensed or certified and in good standing pursuant to the provisions of sections 20-500 to 20-528, inclusive, of the general statutes, as amended by this act.
#CFM EN OPLC REGISTRATION#
(1) Certify that each appraisal management company applying for a certificate of registration has procedures in place to (C) review on a periodic basis the work of all appraisers performing appraisals for the company, to ensure that such appraisal conducted in accordance with the USPAP " review on a periodic basis the work of all appraisers performing appraisals for the company, to ensure that such appraisals are being conducted in accordance with USPAP Review on a periodic basis the work of all appraisers performing appraisals for the company to ensure that such appraisals are being conducted in accordance with USPAP.
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