; and (2) if the appraiser was not approved to conduct such appraisals before the date on which the mortgagee letter or other guidance or regulations take effect under subsection (c)(3), the appraiser is in compliance with subparagraph (D) of such section 202(g)(5). (c) Implementation Not later than the 240 days after the date of enactment of this Act, the Secretary of Housing and Urban Development shall issue a mortgagee letter or other guidance or regulations that shall— (1) implement the amendments made by subsection (a); (2) clearly set forth all of the specific requirements under section 202(g)(5) of the National Housing Act ( 12 U.S.C. 1708(g)(5) ), as amended by this Act, for approval to conduct appraisals under title II of such Act ( 12 U.S.C. 1707 et seq.), which shall include— (A) providing that, before the effective date of the mortgagee letter or other guidance or regulations, a demonstration of competency and completion of training that meet the requirements under subparagraphs (B), (C), and (D) of such section 202(g)(5), as amended by subsection (a), shall be considered to fulfill the requirements under such subparagraphs; and (B) providing a method for appraisers to demonstrate such prior competency and completion; and (3) take effect not later than the date that is 180 days after the date on which the Secretary issues the mortgagee letter or other guidance or regulations.