Which organization is most directly associated with USPAP oversight?

Which organization is most directly associated with USPAP oversight?

• A. The Appraisal Foundation
• B. Appraisal Standards Board
• C. State Licensing Board
• D. Mortgage Bankers Association

Answer: (A)

USPAP is the set of professional standards that governs appraisal practice, and its oversight is tied to The Appraisal Foundation. This foundation is the umbrella organization that sponsors and manages the standards-setting process, including the work of the Appraisal Standards Board, which is the group that actually drafts and updates USPAP. So the Foundation provides the overarching oversight and coordination, while the board within it handles the day-to-day creation of the standards. State Licensing Boards enforce licensure and practice locally, and the Mortgage Bankers Association is simply an industry group, not responsible for USPAP.

USPAP is the set of professional standards that governs appraisal practice, and its oversight is tied to The Appraisal Foundation. This foundation is the umbrella organization that sponsors and manages the standards-setting process, including the work of the Appraisal Standards Board, which is the group that actually drafts and updates USPAP. So the Foundation provides the overarching oversight and coordination, while the board within it handles the day-to-day creation of the standards. State Licensing Boards enforce licensure and practice locally, and the Mortgage Bankers Association is simply an industry group, not responsible for USPAP.