What is the primary purpose of the Appraisal Foundation (APB)?

The primary purpose of the Appraisal Foundation is to maintain the official National Registry of appraisers. This registry is crucial because it ensures that appraisers meet the necessary qualifications and standards to perform their duties effectively and ethically. The National Registry serves as an important resource for various stakeholders, including lenders, clients, and regulatory agencies, helping to promote trust and reliability in the appraisal profession.

While educational standards and training requirements are vital components of the appraisal profession, the specific focus of the Appraisal Foundation lies in the maintenance and oversight of the National Registry. This role supports professional standards and helps ensure that appraisers are adequately vetted and qualified to uphold the integrity of the profession, which is especially significant in an industry that requires precise and reliable valuation of properties.