(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.
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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 |