,,ii  #aafth ,,congress  #ast ,session  
,s4 #agbb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #e1      
#bjai,mr4 ,thune 7for himself1 ,mr4     
,tester1 ,mr4 ,hoeven1 ,mr4 ,king1 ,mr4 
,rounds1 and ,ms4 ,smith7 introduced the
 following bill2 which was read twice   
and referred to the ,committee on       
,banking1 ,housing1 and ,urban ,affairs 
,a ,,bill  ,to amend the ,national      
,housing ,act to authorize              
,state-licensed appraisers to conduct   
appraisals in connection with mortgages 
insured by the ,,fha and to ensure      
compliance with the existing appraiser  
education and competency requirements1  
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,,fha ,appraiser ,eligibility ,expansion
 ,act4  #b4 ,appraiser standards  7a7   
,certification or licensing  7#a7 ,in   
general ,section #bjb7;g77#e7 of the    
,national ,housing ,act 7#ab ,u4,s4,c4  
#agjh7;g77#e77 is amended by striking   
subparagraphs 7,a7 and 7,b7 and         

inserting the following3  7,a7 be       
certified or licensed by the ,state in  
which the property to be appraised is   
located2  7,b7 be knowledgeable of the  
,uniform ,standards of ,professional    
,appraisal ,practice and the appraisal  
requirements established by the ,federal
 ,housing ,administration2  7,c7 meet   
the competency requirements described in
 the ,uniform ,standards of             
,professional ,appraisal ,practice      
before accepting an assignment2 and     
7,d7 have demonstrated verifiable       
education in the appraisal requirements 
established by the ,federal ,housing    
,administration under this subsection1  
which shall include the completion of a 
course or seminar that educates         
appraisers on those appraisal           
requirements and is provided by the     
,federal ,housing ,administration or is 
approved by the ,course ,approval       
,program of the ,appraiser              
,qualification ,board of the ,appraisal 
,foundation or a ,state appraiser       

certifying and licensing agency4  4     
7#b7 ,application ,subparagraph 7,d7 of 
section #bjb7;g77#e7 of the ,national   
,housing ,act 7#ab ,u4,s4,c4            
#agjh7;g77#e771 as added by paragraph   
7#a71 shall not apply with respect to   
any appraiser approved by the ,federal  
,housing ,administration to conduct     
appraisals on mortgages insured under   
title ,,ii of the ,national ,housing    
,act 7#ab ,u4,s4,c4 #agjg et seq47 on or
 before the date on which the mortgagee 
letter or other guidance or regulations 
take effect under subsection 7c77#c74   
7b7 ,compliance with verifiable         
education and competency requirements   
,effective beginning on the date on     
which the mortgagee letter or other     
guidance or regulations take effect     
under subsection 7c77#c71 no appraiser  
may conduct an appraisal for any        
mortgage insured under title ,,ii of the
 ,national ,housing ,act 7#ab ,u4,s4,c4 
#agjg et seq47 unless-- 7#a7 the        
appraiser is in compliance with the     

requirements under subparagraphs 7,a71  
7,b71 and 7,c7 section #bjb7;g77#e7 of  
such ,act 7#ab ,u4,s4,c4 #agjh7;g77#e771
 as amended by subsection 7a72 and  7#b7
 if the appraiser was not approved to   
conduct such appraisals before the date 
on which the mortgagee letter or other  
guidance or regulations take effect     
under subsection 7c77#c71 the appraiser 
is in compliance with subparagraph 7,d7 
of such section #bjb7;g77#e74  7c7      
,implementation ,not later than the #bdj
 days after the date of enactment of    
this ,act1 the ,secretary of ,housing   
and ,urban ,development shall issue a   
mortgagee letter or other guidance or   
regulations that shall-- 7#a7 implement 
the amendments made by subsection 7a72  
7#b7 clearly set forth all of the       
specific requirements under section     
#bjb7;g77#e7 of the ,national ,housing  
,act 7#ab ,u4,s4,c4 #agjh7;g77#e771 as  
amended by this ,act1 for approval to   
conduct appraisals under title ,,ii of  
such ,act 7#ab ,u4,s4,c4 #agjg et seq471

 which shall include-- 7,a7 providing   
that1 before the effective date of the  
mortgagee letter or other guidance or   
regulations1 a demonstration of         
competency and completion of training   
that meet the requirements under        
subparagraphs 7,b71 7,c71 and 7,d7 of   
such section #bjb7;g77#e71 as amended by
 subsection 7a71 shall be considered to 
fulfill the requirements under such     
subparagraphs2 and  7,b7 providing a    
method for appraisers to demonstrate    
such prior competency and completion2   
and  7#c7 take effect not later than the
 date that is #ahj days after the date  
on which the ,secretary issues the      
mortgagee letter or other guidance or   
regulations4