#aafth ,,congress  #ast ,session  ,h4   
,r4 #bheb  ,,an ,,act  ,to amend the    
,national ,housing ,act to authorize    
,state-licensed appraisers to conduct   
appraisals in connection with mortgages 
insured by the ,,fha and to require     
compliance with the existing appraiser  
education requirement1 and for other    
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,homebuyer          
,assistance ,act of #bjai4  #b4         
,appraisal standards for single-family  
housing mortgages  7a7 ,certification or
 licensing ,paragraph 7#e7 of section   
#bjb7;g7 of the ,national ,housing ,act 
7#ab ,u4,s4,c4 #agjh7;g77 is amended--  
7#a7 by striking subparagraph 7,a7 and  
inserting the following new             
subparagraph3  7,a7 7i7 in the case of  
an appraiser for a mortgage for         
single-family housing1 be certified or  
licensed by the ,state in which the     
property to be appraised is located2 and
  7ii7 in the case of an appraiser for a
 mortgage for multifamily housing1 be   

certified by the ,state in which the    
property to be appraised is located2 and
  2 and  7#b7 in subparagraph 7,b71 by  
inserting before the period at the end  
the following3 1 which1 in the case of  
appraisers for any mortgage for         
single-family housing1 shall include    
completion of a course or seminar that  
consists of not less than #g hours of   
training regarding such appraisal       
requirements that is approved by the    
,course ,approval ,program of the       
,appraiser ,qualifications ,board of the
 ,appraisal ,foundation or a ,state     
appraiser certifying and licensing      
agency4  7b7 ,compliance with verifiable
 education requirements2 grandfathering 
,effective beginning on the date of the 
effectiveness of the mortgagee letter or
 other guidance issued pursuant to      
subsection 7c7 of this section1         
notwithstanding any choice or approval  
of any appraiser made before such date  
of enactment1 no appraiser may conduct  
an appraisal for any mortgage for       

single-family housing insured under     
title ,,ii of the ,national ,housing    
,act 7#ab ,u4,s4,c4 #agjg et seq47      
unless such appraiser is1 as of such    
date of effectiveness1 in compliance    
with-- 7#a7 all of the requirements     
under section #bjb7;g77#e7 of such ,act 
7#ab ,u4,s4,c4 #agjh7;g77#e771 as       
amended by subsection 7a7 of this       
section1 including the requirement under
 subparagraph 7,b7 of such section      
#bjb7;g77#e7 7relating to demonstrated  
verifiable education in appraisal       
requirements72 or  7#b7 all of the      
requirements under section #bjb7;g77#e7 
of such ,act as in effect on the day    
before the date of the enactment of this
 ,act4  7c7 ,implementation ,not later  
than the expiration of the #bdj-;day    
period beginning on the date of the     
enactment of this ,act1 the ,secretary  
of ,housing and ,urban ,development     
shall issue a mortgagee letter or other 
guidance that shall--  7#a7 implement   
the amendments made by subsection 7a7 of

 this section2  7#b7 clearly set forth  
all of the specific requirements under  
section #bjb7;g77#e7 of the ,national   
,housing ,act 7as amended by subsection 
7a7 of this section7 for approval to    
conduct appraisals under title ,,ii of  
such ,act for mortgages for             
single-family housing1 which shall      
include--  7,a7 providing that the      
completion1 prior to the effective date 
of such mortgagee letter or guidance1 of
 training meeting the requirements under
 subparagraph 7,b7 of such section      
#bjb7;g77#e7 7as amended by subsection  
7a7 of this section7 shall be considered
 to fulfill the requirement under such  
subparagraph2 and  7,b7 providing a     
method for appraisers to demonstrate    
such prior completion2 and  7#c7 take   
effect not later than the expiration of 
the #ahj-;day period beginning upon     
issuance of such mortgagee letter or    
guidance4  ,passed the ,house of        
,representatives ,september #aj1        
#bjai4;,clerk4