#aaf? ,,congress  #a/ ,session  ,h4 ,r4 
#bheb  ,,an ,,act  ,to am5d ! ,national 
,h\s+ ,act to au?orize ,/ate-lic5s$     
apprais]s to conduct appraisals 9       
connection ) mortgages insur$ by ! ,,fha
 & to require compliance ) ! exi/+      
apprais] education requirem5t1 & = o!r  
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,homebuy] ,assi/ance ,act (
 #bjai4  #b4 ,appraisal /&>ds =         
s+le-family h\s+ mortgages  7a7         
,c]tification or lic5s+ ,p>agraph 7#e7 (
 section #bjb7;g7 ( ! ,national ,h\s+   
,act 7#ab ,u4,s4,c4 #agjh7;g77 is       
am5d$--  7#a7 by /rik+ subp>agraph 7,a7 
& ins]t+ ! foll[+ new subp>agraph3  7,a7
 7i7 9 ! case ( an apprais] = a mortgage
 = s+le-family h\s+1 be c]tifi$ or      
lic5s$ by ! ,/ate 9 :i* ! prop]ty to be 
apprais$ is locat$2 &  7ii7 9 ! case (  
an apprais] = a mortgage = multifamily  
h\s+1 be c]tifi$ by ! ,/ate 9 :i* !     
prop]ty to be apprais$ is locat$2 &  2 &
  7#b7 9 subp>agraph 7,b71 by ins]t+    
be=e ! p]iod at ! end ! foll[+3 1 :i*1 9

 ! case ( apprais]s = any mortgage =    
s+le-family h\s+1 %all include          
completion ( a c\rse or sem9> t consi/s 
( n less ?an #g h\rs ( tra9+ reg>d+ su* 
appraisal requirem5ts t is approv$ by ! 
,c\rse ,approval ,program ( ! ,apprais] 
,qualifications ,bo>d ( ! ,appraisal    
,f\ndation or a ,/ate apprais] c]tify+ &
 lic5s+ ag5cy4  7b7 ,compliance )       
v]ifiable education requirem5ts2        
gr&fa!r+ ,effective beg9n+ on ! date ( !
 effectiv5ess ( ! mortgagee lett] or o!r
 guidance issu$ pursuant to subsection  
7c7 ( ?is section1 not)/&+ any *oice or 
approval ( any apprais] made be=e su*   
date ( enactm5t1 no apprais] may conduct
 an appraisal = any mortgage =          
s+le-family h\s+ insur$ "u title ,,ii ( 
! ,national ,h\s+ ,act 7#ab ,u4,s4,c4   
#agjg et seq47 unless su* apprais] is1 z
 ( su* date ( effectiv5ess1 9 compliance
 )-- 7#a7 all ( ! requirem5ts "u section
 #bjb7;g77#e7 ( su* ,act 7#ab ,u4,s4,c4 
#agjh7;g77#e771 z am5d$ by subsection   
7a7 ( ?is section1 includ+ ! requirem5t 

"u subp>agraph 7,b7 ( su* section       
#bjb7;g77#e7 7relat+ to demon/rat$      
v]ifiable education 9 appraisal         
requirem5ts72 or  7#b7 all ( !          
requirem5ts "u section #bjb7;g77#e7 (   
su* ,act z 9 effect on ! day be=e ! date
 ( ! enactm5t ( ?is ,act4  7c7          
,implem5tation ,n lat] ?an ! expiration 
( ! #bdj-;day p]iod beg9n+ on ! date ( !
 enactm5t ( ?is ,act1 ! ,secret>y (     
,h\s+ & ,urban ,developm5t %all issue a 
mortgagee lett] or o!r guidance t %all--
  7#a7 implem5t ! am5dm5ts made by      
subsection 7a7 ( ?is section2  7#b7     
cle>ly set =? all ( ! specific          
requirem5ts "u section #bjb7;g77#e7 ( ! 
,national ,h\s+ ,act 7z am5d$ by        
subsection 7a7 ( ?is section7 = approval
 to conduct appraisals "u title ,,ii (  
su* ,act = mortgages = s+le-family h\s+1
 :i* %all include--  7,a7 provid+ t !   
completion1 prior to ! effective date ( 
su* mortgagee lett] or guidance1 ( tra9+
 meet+ ! requirem5ts "u subp>agraph 7,b7
 ( su* section #bjb7;g77#e7 7z am5d$ by 

subsection 7a7 ( ?is section7 %all be   
consid]$ to fulfill ! requirem5t "u su* 
subp>agraph2 &  7,b7 provid+ a me?od =  
apprais]s to demon/rate su* prior       
completion2 &  7#c7 take effect n lat]  
?an ! expiration ( ! #ahj-;day p]iod    
beg9n+ ^u issuance ( su* mortgagee lett]
 or guidance4  ,pass$ ! ,h\se (         
,repres5tatives ,septemb] #aj1          
#bjai4;,cl]k4