2015 instructor seminars dept. business & professional regulation division of real estate...
TRANSCRIPT
2015 INSTRUCTOR SEMINARS
DEPT. BUSINESS & PROFESSIONAL REGULATIONDIVISION OF REAL ESTATE
APPRAISAL UPDATE
HOW DOES FLORIDA COMPARE?
States with the largest numbers of licensees* *Source: ASC Website 06/09/2015
State Number of Licensees
California 10,991
Florida 6,365
Texas 5,307
Illinois 4,034
New York 4,006
COMPLAINTS
Must be resolved within 1 year Mandatory reporting from Dodd Frank, Sec.
1472: “Any mortgage lender, mortgage broker, mortgage banker,
real estate broker, appraisal management company, employee of an appraisal management company, or any other person involved in a real estate transaction involving an appraisal in connection with a consumer credit transaction secured by the principal dwelling of a consumer who has a reasonable basis to believe an appraiser is failing to comply with USPAP, is violating applicable laws, or is otherwise engaging in unethical or unprofessional conduct, shall refer the matter to the applicable State appraiser certifying and licensing agency.”
HOW DOES FLORIDA COMPARE?
Disciplinary Action Numbers Across the States*
During years 2005 through 2014**Source: ASC Annual Report 2014*
Federal Update
Appraisal Subcommittee Annual Report Appraisal Hotline
Email / call / refermyappraisalcomplaint.com
Advisory Committee Results on asc.gov
National Registry Unique Appraisal ID Number AMC National Registry
AMC Regulation Upcoming Bulletin Upcoming Policy Statements
Federal Update
The Appraisal Foundation Remedial Education Survey Course: Introduction to USPAP Investigator Training Focus on Consumer
Articles, Booklets Videotaped Messages
www.appraisalfoundation.org
Federal Update
Appraisal Qualifications Board (AQB) Criteria effective January 1,2015
Background Checks Exam pass rates Alternate track Approved degree programs
www.appraisalfoundation.org
AQB CRITERIA - EDUCATION
Criteria Florida
Degree 10.003, 10.004
Experience – good for 5 years
10.002
7 Hour USPAP Course – every 2 years
4.009
Supervisor / Trainee Class
4.010, 10.002*Minimum of 3 hours*Course Content – AQB criteria from 2011 eff. 2015
AQB CRITERIA – BACKGROUND CHECKS
Background Checks – The Original Language…All candidates for a real property appraiser credential must undergo background screening. State appraiser regulatory agencies are strongly encouraged to perform background checks on existing credential holders as well.
This specific language will bar any applicant from certification who has, within the 5 years immediately preceding application, pled guilty or no contest to, or been found guilty of a felony, ever pled guilty or no contest to, or been convicted of a felony involving fraud, dishonesty, breach of trust, or money laundering; or within 5 years preceding certification had an appraiser license or certification revoked.
AQB CRITERIA - SUPERVISION
Supervision
Criteria Florida
Supervisory Appraisers shall be state-certified and in “good standing” in the jurisdiction in which the Trainee Appraiser practices for a period of at least three (3) years.
4.010 - Supervisory appraisers shall have been state certified for a minimum of 4 years prior to being eligible to become a supervisory appraiser.…shall be in good standing in the same jurisdiction in which the trainee appraiser practices for a minimum of four (4) years.
Supervisory Appraisers shall not have been subject to any disciplinary action within any jurisdiction within the last three (3) years that affects the Supervisory Appraiser’s legal eligibility to engage in appraisal practice.
4.010 - …shall not have been subject to any disciplinary action in any jurisdiction within the last three (3) years that affects the supervisory appraiser’s legal eligibility to engage in appraisal practice. In addition, an appraiser who is currently under probation may not act as a supervisory appraiser.
AQB CRITERIA - SUPERVISION
Supervision
Criteria Florida
Jointly maintain log 4.010- Jointly maintain log
A Supervisory Appraiser may not supervise more than three Trainee Appraisers at one time, unless a state program in the licensing jurisdiction provides to progress monitoring, supervising certified appraiser qualifications, and supervision oversight requirements for Supervisory Appraisers.
4.010 – 3 trainees
A Trainee Appraiser is permitted to have more than one Supervisory Appraiser.
Federal Update
Appraisal Standards Board (ASB) 2016-2017 USPAP Changes
Adopted February 6, 2015 Release of Final USPAP Exposure Drafts - 4 Retirement of Standards Confidentiality Continued FAQ’s
Federal Update
Consumer Finance Protection Board (CFPB) New Agency Disclosure/Delivery of Valuations www.consumerfinance.gov
FLORIDA STATUTORY CHANGES
SB 608 – 475 Part II Changes, Appraisal Effective July 1, 2015 475.611 475.612 475.621 475.629 475.6295 475.631 www.flsenate.gov
FLORIDA - FUTURE PROJECTS
Future Projects AMC Final Rule AVM Quality Control – Possible Upcoming Rule
Website Changes
DEPT. BUSINESS & PROFESSIONAL REGULATIONDIVISION OF REAL ESTATE
[email protected] [email protected]
Thank you for the privilege