No appraiser may work on these mortgages without meeting the requirements
What the document says“On and after the effective date described in paragraph (3)(C), no appraiser may conduct an appraisal on a property securing a mortgage to be insured by the Federal Housing Administration unless--”
The section bars any appraiser, from the effective date of the implementing guidance, from appraising property securing a Federal Housing Administration insured mortgage unless the appraiser meets the certification and competency requirements, and, where the appraiser was not already approved before that date, the education requirement as well.
What the document actually says“On and after the effective date described in paragraph (3)(C), no appraiser may conduct an appraisal on a property securing a mortgage to be insured by the Federal Housing Administration unless--”
From a set date, a rule takes hold. No appraiser may value a home for one of these loans. That holds unless the person meets the tests.
The date comes from the paper the housing agency puts out. Two tests apply to all. A third applies only to those new to the work.
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