The Appraisal Blog

FNMA says they are bullish on the Supervisor / Trainee relationship.  For those who aren't familiar obtaining an appraisal license can be a daunting process.  Just to get your first level of licensure, AL (Licensed Appraiser), you need 150 hours of coursework,1000 hours of work experience (yes ... it is an apprenticeship), and pass a test.  To get your AR (Certified Residential) you need another 50 hours of coursework, another 500 hours of work experience, and another test.

Meanwhile ... they are promoting their Value Acceptance program and the Property Data Collection model which will reduce the number of appraisals required and reduce the amount of work that is required.

The appraiser-trainee model is already broke.  After the 2008 crash, congress signed the Dodd-Frank legislation which created the AMC (Appraisal Management Company) model.  AMC's are middle men between the lender and the appraiser.  They take a cut of the appraisal fee and don't allow trainees.  Well technically they allow traness ONLY if they are accompanied by their supervisor.

I used to train appraisers.  I trained 6 appraisers to full licensure.  But it does not make any financial sense anymore.  Sorry FNMA ... I don't believe you!



https://appraisalbuzz.com/fannie-mae-is-bullish-on-appraiser-trainees/