,,ii #aaf? ,,congress #a/ ,session ,s4 #agbb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #e1 #bjai,mr4 ,?une 7= himself1 ,mr4 ,te/]1 ,mr4 ,hoev51 ,mr4 ,k+1 ,mr4 ,r\nds1 & ,ms4 ,smi?7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ,a ,,bill ,to am5d ! ,national ,h\s+ ,act to au?orize ,/ate-lic5s$ apprais]s to conduct appraisals 9 connection ) mortgages insur$ by ! ,,fha & to ensure compliance ) ! exi/+ apprais] education & compet5cy requirem5ts1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,,fha ,apprais] ,eligibility ,expansion ,act4 #b4 ,apprais] /&>ds 7a7 ,c]tification or lic5s+ 7#a7 ,9 g5]al ,section #bjb7;g77#e7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjh7;g77#e77 is am5d$ by /rik+ subp>agraphs 7,a7 & 7,b7 & ins]t+ ! foll[+3 7,a7 be c]tifi$ or lic5s$ by ! ,/ate 9 :i* ! prop]ty to be apprais$ is locat$2 7,b7 be kn[l$geable ( ! ,uni=m ,/&>ds ( ,pr(essional ,appraisal ,practice & ! appraisal requirem5ts e/abli%$ by ! ,f$]al ,h\s+ ,adm9i/ration2 7,c7 meet ! compet5cy requirem5ts describ$ 9 ! ,uni=m ,/&>ds ( ,pr(essional ,appraisal ,practice be=e accept+ an assignm5t2 & 7,d7 h demon/rat$ v]ifiable education 9 ! appraisal requirem5ts e/abli%$ by ! ,f$]al ,h\s+ ,adm9i/ration "u ?is subsection1 :i* %all include ! completion ( a c\rse or sem9> t educates apprais]s on ^? appraisal requirem5ts & is provid$ by ! ,f$]al ,h\s+ ,adm9i/ration or is approv$ by ! ,c\rse ,approval ,program ( ! ,apprais] ,qualification ,bo>d ( ! ,appraisal ,f\ndation or a ,/ate apprais] c]tify+ & lic5s+ ag5cy4 4 7#b7 ,application ,subp>agraph 7,d7 ( section #bjb7;g77#e7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjh7;g77#e771 z add$ by p>agraph 7#a71 %all n apply ) respect to any apprais] approv$ by ! ,f$]al ,h\s+ ,adm9i/ration to conduct appraisals on mortgages insur$ "u title ,,ii ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq47 on or be=e ! date on :i* ! mortgagee lett] or o!r guidance or regulations take effect "u subsection 7c77#c74 7b7 ,compliance ) v]ifiable education & compet5cy requirem5ts ,effective beg9n+ on ! date on :i* ! mortgagee lett] or o!r guidance or regulations take effect "u subsection 7c77#c71 no apprais] may conduct an appraisal = any mortgage insur$ "u title ,,ii ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjg et seq47 unless-- 7#a7 ! apprais] is 9 compliance ) ! requirem5ts "u subp>agraphs 7,a71 7,b71 & 7,c7 section #bjb7;g77#e7 ( su* ,act 7#ab ,u4,s4,c4 #agjh7;g77#e771 z am5d$ by subsection 7a72 & 7#b7 if ! apprais] 0 n approv$ to conduct su* appraisals be=e ! date on :i* ! mortgagee lett] or o!r guidance or regulations take effect "u subsection 7c77#c71 ! apprais] is 9 compliance ) subp>agraph 7,d7 ( su* section #bjb7;g77#e74 7c7 ,implem5tation ,n lat] ?an ! #bdj days aft] ! date ( enactm5t ( ?is ,act1 ! ,secret>y ( ,h\s+ & ,urban ,developm5t %all issue a mortgagee lett] or o!r guidance or regulations t %all-- 7#a7 implem5t ! am5dm5ts made by subsection 7a72 7#b7 cle>ly set =? all ( ! specific requirem5ts "u section #bjb7;g77#e7 ( ! ,national ,h\s+ ,act 7#ab ,u4,s4,c4 #agjh7;g77#e771 z am5d$ by ?is ,act1 = approval to conduct appraisals "u title ,,ii ( su* ,act 7#ab ,u4,s4,c4 #agjg et seq471 :i* %all include-- 7,a7 provid+ t1 be=e ! effective date ( ! mortgagee lett] or o!r guidance or regulations1 a demon/ration ( compet5cy & completion ( tra9+ t meet ! requirem5ts "u subp>agraphs 7,b71 7,c71 & 7,d7 ( su* section #bjb7;g77#e71 z am5d$ by subsection 7a71 %all be consid]$ to fulfill ! requirem5ts "u su* subp>agraphs2 & 7,b7 provid+ a me?od = apprais]s to demon/rate su* prior compet5cy & completion2 & 7#c7 take effect n lat] ?an ! date t is #ahj days aft] ! date on :i* ! ,secret>y issues ! mortgagee lett] or o!r guidance or regulations4