REVISED STANDARDS FOR FHA APPRAISERS.

SEC. 1404. REVISED STANDARDS FOR FHA APPRAISERS. Section 202(e) of the National Housing Act (12 U.S.C. 1708(e)) is amended by adding at the end the following:“(5) Additional appraiser standards.—Beginning on the date of enactment of the Federal Housing Finance Regulatory Reform Act of 2008, any appraiser chosen or approved to conduct appraisals for mortgages under this title shall—“(A) be certified—“(i) by the State in which the property to be appraised is located; or“(ii) by a nationally recognized professional appraisal organization; and“(B) have demonstrated verifiable education in the appraisal requirements established by the Federal Housing Administration under this subsection.”.