Appraiser licensing varies from state to state. To participate in what is called a "federally-related transaction," which is, for example, a mortgage being underwritten by a national bank, an Appraiser must be licensed and/or certified by his or her state.
The license or certification is evidence that the Appraiser has performed a certain number of hours as a trainee under the supervision of a practicing Appraiser, has passed multiple examinations, and completes a certain number of hours of continuing education each licensing period.
Prior to the Savings and Loan crisis of the 80s, which gave rise to Appraiser licensing, Appraisers had to market their expertise, service, professionalism and association designations. Many feel that state licensing has diluted the Appraisal profession. Many consider licensure a bare minimum of what you should expect from an Appraiser.
Contact Passage Appraisal, LLC if you're looking for someone who is not only certified and licensed but an ethical, experienced, local and professional
We have worked hard to establish a reputation for quality and prompt work, performed professionally and ethically with outstanding customer service. You should never just look for a licensed Appraiser; you should be discriminating in choosing your service providers.
Make sure that your appraisal service provider is licensed, certified and in good standing. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of Appraisers and their license/certification status. Click here to view the database.
Among other things, this database, which relies on reports from each state appraisal board, will tell you if a service provider you are considering has had his or her license suspended, revoked, or whether the license has lapsed. You can rest assured that our license is current and in good standing!