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| PO Box 1212 Tampa, FL 33601 Pinellas
 ATTENTION Lending Institutions MAI or not to MAI ! Updated June 2006 |
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28.Are appraisers prepared for the 2006 USPAP? Yes. While some education regarding the new structure of USPAP and the modified requirements will be required, appraisers have been dealing with varied scopes of work (for example, exterior only inspections vs. interior and exterior inspections) for many years now. The 2006 USPAP does not introduce any major new requirements. The requirement to determine and disclose the scope of work is a requirement of the 2005 USPAP, as is the requirement to develop credible assignment results. Appraisers already possess the knowledge and skills needed to complete assignments under the SCOPE OF WORK RULE. |
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