What is the Appraisal Foundation and its purpose?

The Appraisal Foundation, established in 1987, is a private nonprofit educational organization. It was established to implement the Uniform Standards of Professional Appraisal Practice (USPAP) through an independent board, the Appraisal Standards Board (ASB). The Appraiser Qualifications Board (AQB) was later incorporated in the Foundation structure in order to facilitate the development of meaningful qualification criteria for appraisers.

The Appraisal Foundation, through its Boards, sets the ethical and performance standards for the appraiser profession. In addition, minimum education, experience, and examination requirements are also set by the Foundation and enforced by the individual states.

The Appraisal Subcommittee (ASC) is responsible for monitoring the activities of The Appraisal Foundation and the ASB and AQB as well as providing a federal grant to assist in the operations of these Boards.

For additional information regarding The Appraisal Foundation, The ASB, the AQB, or the APB go to https://www.appraisalfoundation.org/

For information about the FHA roster for appraisers please visit https://www.hud.gov/program_offices/housing/sfh/appr

All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

Topic Number: KA-03604