Procedure

A request may be submitted by a State appraiser regulatory agency, or other interested persons or entities, and must set out:

(1) The requirements of State law from which relief is being sought;
(2) A description of all significant problems being encountered;
(3) The nature of the scarcity of certified or licensed appraisers;
(4) The extent of the delays anticipated or experienced in obtaining the services of certified or licensed appraisers; and
(5) The reasons why the requester believes that the requirement or requirements are causing the scarcity of certified or licensed appraisers and the service delays.

(It is strongly encouraged that the request includes meaningful suggestions and recommendations for remedying the situation.)

A copy of the request must be forwarded promptly to the State appraiser regulatory agency.

The ASC considers whether to initiate temporary waiver proceedings. If initiated, the ASC promptly publishes a notice in the Federal Register for the 30-day comment period. Within 45 days of that publication, the ASC shall either grant or deny the request and upon specified conditions (such order shall respond to comments received and be published in the Federal Register). FFIEC concurrence is required if the request is approved.

Note: Should the ASC determine that an emergency exists, the ASC may issue an interim approval order simultaneously with the 30-day comment notice in the Federal Register.