Or. Admin. R. 161-520-0020 - Appraiser Competency

(1) A system to verify that each appraiser on the appraisal management company's appraiser panel, shall meet the following minimum requirements:

(a) An appraisal management company shall require that each independent contractor appraiser furnish their license or certificate number issued by the Board under ORS 674.310;

(b) An appraisal management company shall have a system in place to verify each independent contractor appraiser's license or certificate renewal;

(c) An appraisal management company shall prominently state in the engagement/assignment document to the independent contractor appraiser that, by the appraiser's acceptance and completion of the assignment, the appraiser agrees and attests that they are competent to perform the appraisal assignment;

(d) An appraisal management company shall include the following information in an assignment to an independent contractor appraiser, to the extent the appraisal management company's client has communicated the information to the appraisal management company:

(A) The geographic location of the real property, which may include the metropolitan statistical area, metropolitan division, area outside of a metropolitan statistical area, county, postal code, legal description or other geographic information identifying where the real property is situated; and

(B) The type of real property the assignment covers.

(e) An appraisal management company shall require that each independent contractor appraiser completing appraisals at the request of the appraisal management company comply with the Uniform Standards of Professional Appraisal Practice.

(2) The Board retains jurisdiction over administrative inquiries and actions involving misrepresentations made by an individual appraiser regarding competency.

Notes

Or. Admin. R. 161-520-0020

ACLB 5-2011(Temp), f. 12-22-11, cert. ef. 1-1-12 thru 6-27-12; ACLB 1-2012, f. 7-2-12, cert. ef. 7-3-12

Stat. Auth.: ORS 183.355, ORS 674.305(7), ORS 674.310 & 2011 OL Ch. 447

Stats. Implemented: ORS 674.310 & 2011 OL Ch. 447