Question:

What is expected of an FHA Roster Appraiser?

Answer:

What is expected of an FHA Roster Appraiser is completing appraisals on properties and estimating the properties' value for mortgage insurance purposes. The FHA Roster Appraiser performs the appraisal based on the property's location and condition. The appraisal conducted by an FHA Roster Appraiser is expected to comply with the Uniform Standards of Professional Appraisal Practice (USPAP), and some additional standards imposed by FHA and HUD.

FHA Roster Appraisers are expected to be removed from the roster if it is found that their performance was not in accordance with the USPAP and the requirements listed on the latest HUD Handbook for Appraisers. The sanction faced by the FHA Roster Appraiser for failing to comply with the USPAP and HUD - FHA requirements is determined by a State Regulatory Board and depends on the severity of the violation.

In case an FHA Roster Appraiser is reported to have committed offense, at least some 45 days are allowed for the FHA Appraiser to prepare proper response. If an FHA Roster Appraiser is removed from the FHA Roster, the period after which reinstatement is allowed depends on the severity of the offense as determined by the proper State Regulatory Board.

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