Appraiser licensing varies from state to state. To participate in what is called a "federally-related transaction," which is, for example, a mortgage being underwritten by an FDIC bank or NCUA credit union, an appraiser must be licensed or certified by the state that the property is located.
Prior to the Savings and Loan (S&L) crisis of the 1980s, which led to appraiser licensing, appraisers had to market their expertise, service, professionalism and association designations. Some people feel that the creation of state licensing has diluted the appraisal profession. Many consider licensure a bare minimum of what you should expect from an appraiser.
Each appraiser at Truex Appraisal Services, LLC and Truex Residential Appraisers, Inc. has worked hard to establish a reputation for quality and prompt work, performed professionally and ethically, with outstanding customer service. You should never just look for a licensed appraiser; you should be discriminating in choosing your service providers. Tour our website for valuable information on the experience we have and the service we provide.
You should always be sure your appraisal service provider is not only licensed or certified but is in good standing. The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) maintains a national database of appraisers and their license/certification status. It is available publicly at this link.
Among other things, this database, which relies on reports from each state appraisal board, will tell you if a service provider you are considering has had his or her license suspended, revoked, or whether the license has lapsed. You can rest assured that all of our licenses are current and in good standing!