Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
Board
Real Estate Appraiser Board
chapter
Real Estate Appraiser Board Rules and Regulations [18 VAC 130 ‑ 20]
This action is exempt from the executive branch review process.
Action:
Federally Mandated Changes - Trainee & Supervisory
 
General Information
Action Summary Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA – Real Estate Appraisal Reform) was amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203) on July 21, 2010. Pursuant to this amendment, §1116 of FIRREA [12 U.S.C. 3345] requires “Trainee Appraisers” and “Supervisory Appraisers” to meet or exceed the minimum qualification requirements of the Appraiser Qualifications Board (AQB) of The Appraisal Foundation (TAF). The AQB’s minimum qualification requirements for Trainee Appraisers and Supervisory Appraisers are expressed in The Real Property Appraiser Qualification Criteria (Criteria), which can be accessed on the Board’s website at: http://www.dpor.virginia.gov/uploadedFiles/MainSite/Content/Boards/Appraisers/40AQBQual.pdf The Criteria requires that only certified appraisers in good standing who have not been subject to any disciplinary action within the last two years that affects their legal eligibility to engage in appraisal practice be able to supervise licensed real estate appraiser trainees. The Criteria also requires that licensed real estate appraiser trainees complete 28 hours of continuing education to renew their license after the expiration of their first two-year license term. These requirements must be in effect by July 1, 2013.
Chapters Affected Only affects this chapter.
Exempt from APA Yes, this action is exempt from Article 2 of the Administrative Process Act.
Exempt Citation: Subsection A.4.c of § 2.2-4006 (to comply with federal law or regulation)
RIS Project Yes  [003713]
New Periodic Review This action will not be used to conduct a new periodic review.
 
Stages
Stages associated with this regulatory action.
Stage ID Stage Type Status
6573 Final Stage complete. This regulation became effective on 07/01/2013.
 
Contact Information
Name / Title: Christine Martine  / Executive Director
Address: 9960 Mayland Drive, Suite 400
Richmond, VA 23233
Email Address: reappraisers@dpor.virginia.gov
Phone: (804)367-8552    FAX: (804)527-4298    TDD: ()-

This person is the primary contact for this chapter.