SECTION 159.154. Competency of Appraisers

(a) For purposes of §1104.154 of the AMC Act and this section, the term "assignment" means an appraisal assignment. This term does not include an appraisal review assignment.

(b) In addition to verifying an appraiser's licensure as required by §1104.152 of the AMC Act, an AMC must, at the time of or before making an assignment to an appraiser, obtain a written certification from the appraiser that the appraiser:

(1) is competent in the property type of the assignment;

(2) is competent in the geographical area of the assignment;

(3) has access to appropriate data sources for the assignment;

(4) will immediately notify the AMC if the appraiser later determines that he or she is not qualified under paragraph (1), (2), or (3) of this subsection to complete the assignment; and

(5) is aware that misrepresentation of competency is subject to the mandatory reporting requirement in §1104.160 of the AMC Act.

(c) An AMC that has reviewed an appraiser's work must consider the findings of the review in verifying competency for the purpose of assigning future work.

(d) For the purposes of verifying that an appraiser has not had a license denied in another jurisdiction, an AMC may rely on information provided by the appraiser.

Source Note: The provisions of this §159.154 adopted to be effective March 5, 2012, 37 TexReg 483; amended to be effective December 14, 2014, 39 TexReg 9668; amended to be effective December 10, 2017, 42 TexReg 6927