Appraiser Foundation Introduction
The Appraisal Foundation is a private, not-for-profit corporation charged by
Title XI with the responsibility of establishing, improving and promoting
minimum uniform appraisal standards and appraiser qualifications criteria. The
Foundation serves as the parent organization for two independent boards
established to accomplish this mission: Appraisal Standards Board (the
"ASB") and the Appraiser Qualifications Board (the "AQB").
These Boards respectively promulgate and maintain the Uniform Standards of
Professional Appraisal Practice ("USPAP") and the Appraiser
Qualifications Criteria.
All State certified appraisers must meet the AQB Criteria, as imposed by the
State appraiser regulatory agencies. In addition, all State appraiser
certification and licensing laws require certified and licensed appraisers to
conform to USPAP when performing appraisals in connection with federally
related transactions and to use USPAP as the basis for enforcement actions.
The Foundation also ensures that information regarding USPAP and the Criteria is
disseminated to State and Federal regulators, appraisers, users of appraisal
services, and the general public. The Foundation sells copies of USPAP upon
request and provides copies of the Criteria at no charge. USPAP and the
Criteria also can be viewed on Foundation's Web site. The Foundation also
provides every licensed and certified appraiser with a complimentary quarterly
newsletter. In addition, the Foundation sponsors appropriate activities
relating to standards, qualifications, and issues of importance to appraisers
and users of appraisal services.
Title XI requires that the ASC provide grants to
the Foundation in such amounts as the ASC deems
appropriate to support the Foundation's Title XI-related activities. Title XI
also requires the ASC to monitor and review the
practices, procedures, activities and organizational structure of the
Foundation.
These Web pages contain correspondence between the ASC
and the Foundation, the AQB, or the ASB.
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