A covered appraiser needs to be licensed or certified in only 1 State to perform appraisal or valuation services for real property in any State for a transaction over which the Secretary has jurisdiction.
Except as provided in paragraph (3), nothing in this section shall be interpreted to affect the application of any Federal or State law or regulation to a non-Federal covered appraiser with regard to the performance by such non-Federal covered appraiser of appraisal and valuation services for real property.
Nothing in this section shall be interpreted to authorize a non-Federal covered appraiser to perform appraisal and valuation services for real property in a State in which such non-Federal covered appraiser is not licensed or certified to perform such services except to the extent that such services are performed for a transaction over which the Secretary has jurisdiction.
Any provision of a Federal or State law or regulation enacted before January 4, 2025, that requires a covered appraiser to be licensed or certified in a specific State to perform appraisal or valuation services for real property in that State shall not apply to any transaction over which the Secretary has jurisdiction.
Not later than 90 days after January 4, 2025, the text of all policies (including any successor policies), including reference manuals, guidance documents, handbooks, standard operating procedures, and statements of policy specific to the scoping, contracting, and review of appraisals performed for the Department by Federal or non-Federal covered appraisers, shall be made publicly available online and provided upon request.
The term “covered appraiser” means a State-licensed or -certified real property appraiser.
The term “reporting period” means the 1-year period before the date on which a report is submitted under subsection (c).