California Real Estate Appraiser Licensee Numbers Hit Record Levels and Continue to Rise; Office of Real Estate Appraisers Encourages the Use of Online License Status Check Resource.

SACRAMENTO, Calif. -- The California Office of Real Estate Appraisers (OREA), the state department that issues licenses to California's Real Estate Appraisers, now licenses more appraisers than ever before.

"OREA is committed to ensuring that only qualified individuals are licensed to appraise real estate," OREA Acting Director Tony Majewski said. "It is critical that lenders and consumers have confidence that licensed appraisers are qualified and professional, complying with the strict standards of the industry."

Currently, there are nearly 20,000 licensed and certified real estate appraisers in the state. In 2005, the number of appraiser licensees rose to a record of more than 17,800. This year, the trend continues with the number of licensees climbing to 19,675 as of May 2006. OREA processed more than 5,000 applications for new licenses in FY 2004-05 within 90 days to meet the needs of the real estate industry during the recent US housing boom. With an increased number of licensed and qualified appraisers, mortgage lenders and brokers have a broader selection of professionals to add to their list of approved appraisers in their market areas.

Additionally, OREA processes license renewals, issues temporary permits to out-of-state appraisers and approves and monitors accreditation and continuing education courses.

OREA investigates complaints from lenders, brokers and consumers to determine if there has been unlawful or unprofessional conduct by an applicant for licensure or a licensed appraiser. Complaint form is available on the OREA Web site, www.orea.ca.gov/forms/REA_4001.pdf.

OREA recently partnered with the state Department of Corporations, Department of Financial Institutions and the Department of Real Estate to develop a centralized Internet location for consumers to verify licensing information from any of the four regulatory departments. The California Real Estate and Financial Services License Status directory is available on the OREA Web site at www.orea.ca.gov. Consumers are encouraged to check the license status of real estate appraisers, real estate agents, mortgage brokers, and others involved in the processes of purchasing or refinancing their homes before completing transactions.

OREA was established in response to the Real Estate Appraisers Licensing and Certification Law enacted by the California Legislature in 1990 following Title XI of the federal Financial Institutions Reform, Recovery and Enforcement Act mandating states to license and certify real estate appraisers who appraise property for federally related real estate transactions. OREA reports to Business, Transportation and Housing Agency Secretary Sunne Wright McPeak and Gov. Arnold Schwarzenegger.

For more information about the Office of Real Estate Appraisers and its programs visit www.orea.ca.gov.