Committee hears bill to let appraisers provide evaluations; stakeholders ask for language aligning with federal guidance

The Senate Industry and Business Committee opened a hearing on House Bill 1354 to allow licensed appraisers to provide property evaluations — a lower-scope, bank-facing valuation product distinct from full appraisals — and heard extended testimony from appraisers, bankers, realtors, builders and regulators.

Proponents, including Representative Dan Ruby (sponsor) and witnesses from the North Dakota Appraisers Association, said permitting appraisers to perform evaluations would expand the appraisal workforce, provide training opportunities for apprentices and speed transactions that do not require a full appraisal. Dean Rylander, chair of government affairs for the North Dakota Appraisers Association, described evaluations as a separate, lower-scope product that banks and federal regulators already accept for low-risk loans and said appraisers are trained to produce higher-quality evaluations than some current suppliers.

Appraisers and supporters emphasized the difference between appraisals (which must follow USPAP) and evaluations (which federal interagency guidance treats as a permissible, lower-scope alternative for certain loans). Representative Ruby and certified residential appraiser Steve Vetter told the committee that evaluations can help apprentices…