Property Valuation
An appraiser doing a Florida residential appraisal for a lender must be:
ALicensed as a real estate broker in Florida
BA state-certified or state-licensed real estate appraiser under FIRREA requirements✓ Correct
CEmployed by the lender directly
DApproved by FREC
Explanation
Under FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) and Florida law, appraisals for federally related mortgage transactions must be performed by state-certified or state-licensed real estate appraisers. Appraisers are regulated by the Florida Real Estate Appraisal Board (FREAB), not FREC.
Related Florida Property Valuation Questions
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