AI Supports AQB Proposal on Valuation Bias and Fair Housing Education

The Appraisal Institute on March 9 submitted a letter to the Appraiser Qualifications Board in support of the proposed national education requirements for valuation bias and fair housing, which would ensure that appraisers have the most robust national education requirements of any industry subject to the Fair Housing Act.

The AQB proposal calls for all credentialed appraisers to complete a seven-hour seminar on valuation bias and fair housing by 2025 and four hours of continuing education requirements for each license renewal cycle thereafter. Aspiring appraisers would have to complete an eight-hour course in qualifying education requirements that includes a one-hour exam.

The AQB is expected to release a 2nd Exposure Draft that incorporates suggestions from stakeholders, with final action on the proposal expected later this year.