Maryland Removes References to USPAP Advisory Opinions

AppraisersBlogs

AppraisersBlogs

AppraisersBlogs Team at AppraisersBlogs
Have questions or need help? Please contact us with any comments, questions or concerns.
AppraisersBlogs

Latest posts by AppraisersBlogs (see all)

Maryland Removes References to USPAP Advisory Opinions

On April 8, the Maryland Commission of Real Estate Appraisers, Appraisal Management Companies and Home Inspectors completed action on rulemaking that removed the Advisory Opinions and Frequently Asked Questions of the Uniform Standards of Professional Appraisal Practice from being incorporated by reference into the state’s appraiser licensing and certification laws.

The move addresses the Appraisal Institute’s long-standing concerns about increased regulatory burdens placed on professional appraisers.

Prior to this rule change, the AOs and FAQs were considered by the Commission to be part of USPAP. As such, the contents of the AOs and FAQs potentially could have been used by the Commission as the basis for disciplinary action against an appraiser. This was true even though USPAP specifically states that the AOs and FAQs are a “form of guidance issued by the ASB” and are not part of USPAP.

Maryland was one of a handful of states that incorporated the AOs and FAQs into its regulations that adopted the provisions of USPAP by reference. The Appraisal Institute had pointed out this anomaly in testimony before the Commission in 2012 and at that time requested the removal of the references to the AOs and FAQs from the Commission’s regulations.

Image credit flickr - Quinn Dombrowski
AppraisersBlogs

AppraisersBlogs

Have questions or need help? Please contact us with any comments, questions or concerns.

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

  | xml sitemap