Who Watches Appraisers?
Appraisers and Appraisal Practice are guided, regulated and/or educated by many organizations dedicated to the Real Estate Industry.
The Appraisal Foundation
The Appraisal Foundation, a not-for-profit organization, is authorized by Congress as the source of appraisal standards and appraiser qualifications.
The Appraisal Foundation fosters professionalism in appraising by:
- Establishing, improving, and promoting the Uniform Standards of Professional Appraisal Practice (USPAP)
- Establishing educational experience and examination qualification criteria for the licensing, certification and recertification of real property appraisers
- Establishing educational and experience qualification criteria for other valuation disciplines
- Disseminating information on USPAP and the Appraiser Qualification Criteria to the appraisal profession, state and federal government agencies, users of appraisal services, related industries and industry groups, and the general public and
- Sponsoring appropriate activities relating to standards, qualifications and issues of importance to appraisers and users of appraisal services.
Extracted from the Strategic Goals of The Appraisal Foundation as adopted on 11/1/2008)
Please visit the website for The Appraisal Foundation for comprehensive information and links for the appraisal industry.
The Appraisal Institute
The Appraisal Institute (AI) is a global membership association of professional real estate appraisers.
The local arm of Appraisal Institute is the Austin Chapter of the Appraisal Institute.
HUD
The mission of HUD (the U.S. Department of Housing & Urban Development), according to HUD’s website (linked above) is, “to increase homeownership, support community development and increase access to affordable housing free from discrimination. To fulfill this mission, HUD will embrace high standards of ethics, management and accountability and forge new partnerships–particularly with faith-based and community organizations–that leverage resources and improve HUD’s ability to be effective on the community level.”
Texas Department of Housing and Community Affairs
At the local level, according to their website, the mission of (TDHCA Texas Department of Housing & Community Affairs) is, “to help Texans achieve an improved quality of life through the development of better communities.
The Department accomplishes this mission by acting as a conduit for federal grant funds for housing and community services. However, because several major housing programs require the participation of private investors and private lenders, TDHCA also operates as a housing finance agency.
Ensuring program compliance with the many state and federal laws that govern housing programs is another important part of the Department’s mission. This ensures the health and safety of TDHCA’s housing portfolio and guarantees state and federal resources are expended in an efficient and effective manner.
TDHCA also serves as a financial and administrative resource that helps provide essential services and affordable housing opportunities to Texans who qualify for this assistance based on their income level. Additionally, the Department is a resource for educational materials and technical assistance for housing, housing related, and community services matters.”
