THE APPRAISAL FOUNDATION

The Appraisal Foundation is a private, not-for-profit corporation charged by Title XI with the responsibility of establishing, improving and promoting minimum uniform appraisal standards and appraiser qualifications criteria. The Foundation serves as the parent organization for two independent boards established to accomplish this mission: Appraisal Standards Board (the "ASB") and the Appraiser Qualifications Board (the "AQB"). These Boards respectively promulgate and maintain the Uniform Standards of Professional Appraisal Practice ("USPAP") and the Appraiser Qualifications Criteria.

All State certified appraisers must meet the AQB Criteria, as imposed by the State appraiser regulatory agencies. In addition, all State appraiser certification and licensing laws require certified and licensed appraisers to conform to USPAP when performing appraisals in connection with federally related transactions and to use USPAP as the basis for enforcement actions.

Visit the Appraisal Foundation website at www.appraisalfoundation.org to:

• Link to Appraisal Standards Board for changes to the Uniform Standards of Professional Appraisal Practice and how to obtain copies of the current version
• Find monthly Questions and Answers to commonly asked questions to provide guidance on the interpretation of the Standards
• Locate Appraiser Qualification Criteria under the Appraiser Qualifications Board
• Obtain updates and commentary about federal changes affecting appraisers
• View proposed changes to appraiser qualifications and Uniform Standards of Professional Appraisal Practice and provide input to the promulgation process