Oklahoma is characterized as a voluntary state, meaning that a real estate appraiser credential is not required to perform an appraisal, unless that appraisal is involved in a federally related transaction or a real estate related financial transaction of an agency, instrumentality, or federally recognized entity covered by FIRREA of 1989. As a practical matter virtually all residential mortgage transactions are performed by credentialed appraisers as a lender requirement.
Mortgage brokers, supervised lenders, and mortgage loan originators are regulated by the Department of Consumer Credit.
The County Assessor and/or County Treasurer of the county wherein the property is located.
The National Registry is not based on real-time data. This agency sends a data set to the Appraisal Subcommittee on a weekly basis. It could take up to 24 hours to show the current information.
The Board issues credentials for three years, but you only pay licensing fees for one year at a time. When you pay your annual licensing fees, which includes your National Registry fee, the National Registry is updated, and the ASC advances your registry expiration date by one (1) year. They do not utilize the expiration date that is issued to you by this office.
HUD and FHA retrieve their information from the Appraisal Subcommittee (please refer to previous questions). Please be aware that this office has no interface with HUD or FHA; if you have additional questions concerning those agencies, please refer all inquiries to the appropriate entity.
*If you would like to see an FAQ added to our website, please feel free to give us a call at (405) 521-6636. Our office hours are Monday through Friday, 8 a.m. to 5 p.m. (excludes national holidays)