Source: U.S. Department of Housing and Urban Development
HUD maintains a Roster of Appraisers who have satisfied the requirements to be certified to perform an appraisal (see eligibility and real estate placement process below). Lenders underwriting loans may only accept appraisals from an appraiser who is on the Roster. Lenders can check the appraiser status by clicking on the following link HUD real estate roster status .
Qualifications to be a certified appraiser include the following:
State-licensed or state-certified real estate appraiser with credentials based on the minimum licensing/certification criteria issued by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation. An appraiser is not deemed to have credentials based on AQB standards if the state licensing/certification requirements did not conform to AQB criteria at the time the appraiser obtained the license or certification.
We have appraisers on the Roster of FHA approved residential appraisers. We're qualified and approved to do appraisals for H.U.D. insured home loans. As real estate appraisers we're trained and understand the rules and procedures in H.U.D. guidance and policy documents.
A HUD real estate loan is insured by the Federal Housing Administration, a federal agency within the U.S. Department of Housing and Urban Development (HUD). The HUD real estate loan does not loan money to borrowers, rather, it provides lenders protection through mortgage insurance (MIP) in case the borrower defaults on his or her loan obligations. Available to all buyers, FHA loan programs are designed to help creditworthy low-income and moderate-income families who do not meet requirements for conventional loans buy residential real estate and apartments. Remember, the Federal Housing Administration is different from the VA appraiser panel in that the real estate lender can choose the appraiser.