The appraisal subcommittee of the umbrella group for federal financial regulators will meet Feb. 23 to discuss its budget and the seven-hour update course on professional standards for appraisers, the group said Wednesday.
The meeting is scheduled to get underway at 10 a.m. ET; it will be livestreamed via the Internet (registration required).
The Federal Financial Institutions Examination Council’s (FFIEC) Appraisal Subcommittee discussion of the appraisal standards course focuses on the course that allows persons to obtain a state credential as an appraiser, and maintain the credential.
According to the Appraisal Foundation, the current requirement for real property appraisers to obtain the Uniform Standards of Professional Appraisal Practice (USPAP) credential is for a 15-hour course. The subcommittee will be discussing the update course that is about half that long. That course (or its equivalent) is required for all credentialed real property appraisers once every two years.