MS HB1095

Requires the Mississippi Real Estate Appraiser Licensing and Certification Board to establish measurement standards for residential properties up to four-family buildings using American National Standards Institute standards or the American Measurement Standard Manual.

Mandates that appraisals using these standards must indicate which standard was used on the appraisal document or in a separately appended document.

Directs the board to conduct a survey by an independent third party to determine reasonable and customary appraisal fees for appraisals conducted through appraisal management companies under federal law.

Requires the board to establish regulations for determining compliance by appraisal management companies with reasonable and customary fee requirements and for updating the survey as needed.

Effective date: July 1, 2014.