ohio coalition of appraisal professionals 2018 annual ...ocapweb.org/docs/2018/anne petit - summer...
TRANSCRIPT
Safe. Sound. Secure.
Ohio Coalition of Appraisal Professionals
2018 Annual Summer Seminar Ohio Division of Real Estate & Professional Licensing
Anne M. Petit, Superintendent John McIntyre, OREAB Chairman
Ed Woodruff, Staff Attorney Shannon Drawns, Enforcement Chief
1
Safe. Sound. Secure.
Overview of your division, how it plays a role in Commerce as a
whole, etc.
2
The Ohio Department of Commerce is focused on equipping businesses and
protecting consumers.
Commerce has seven
Divisions including Real Estate
& Professional Licensing
Our goal is to keep Ohioan’s safe, sound and secure.
Safe. Sound. Secure.
Ohio Appraisers By the Numbers
3
328
518
1345
1044
Credentials
Trainees
ALR
ACR
ACG
Safe. Sound. Secure.
*New* Appraisers Licensed/Certified
348
162
134
126 142
175 173
101 80 87
0
50
100
150
200
250
300
350
400
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*
Licensed/Certified
Licensed/Certified
ARAs
5
1 3
1 2 4
3
1 8
33 2 2
5 3 11 2
3 5
7
1 5 5
1 2
1
1
1 4
1
3 1
3 9
1 1
11 1
7
16
62
2
5
1 1 0
3 1
2
1 3
2
2 3 1
3 6
11 17
6 1
5
Athens
2
1
1
1
IN 1
PA 1
WVa 1
KY 1
* No ARA # ARAs w/o Sup’r
*
* *
*
*
*
*
*
*
*
*
*
*
*
1 *
* *
*
*
*
*
*
1 1
1
1
1
1
1
1
1
1
1
2
2
2
2
1
16
18
5
5
4
1 2
1 3
2
1 1
2
7
1
2
1 1
1
1
1 1
1
Safe. Sound. Secure.
Changes to Credential Criteria
• Appraiser Qualifications Board changes effective 5/1/18
• OREAB adopted policy to implement same standards
• What changed? • Education requirements • Experience requirements
Safe. Sound. Secure.
Changes to Credential Criteria - Education EDUCATION
• No college-level education for licensed residential • Alternatives to bachelor’s degree for certified residential
• Associates degree in certain fields • 30-semester hrs in certain courses • College Level Examination Program (CLEP) • Combination of courses and CLEP • ALR – 5 yrs minimum and NO license limiting discipline
Safe. Sound. Secure.
Changes to Credential Criteria
Safe. Sound. Secure.
Enforcement
Safe. Sound. Secure.
Enforcement
124 122
86
62
97
79
42
10
76
91
74
54
86 83
41
8
27
16 24
36 16
5 11
5 0
20
40
60
80
100
120
140
160
2011 2012 2013 2014 2015 2016 2017 2018Complaints Cases Charged
Safe. Sound. Secure.
Enforcement 2016 2017
79 Complaints 42 Complaints
Consumers Consumers
Superintendent Actions Lenders/AMCs/Reviewers
Lenders/AMCs/Reviewers Superintendent Actions
Safe. Sound. Secure.
Enforcement 2016 2017
83 Cases Opened 41 Cases Opened
68 Cases Closed 73 Cases Closed
5 Cases Charged 11 Cases Charged
61 NFAs 64 NFAs
Safe. Sound. Secure.
Enforcement
What Investigations Are Revealing: • Inaccurate comp reporting • Appraiser making changes to a subordinate
appraiser’s report without subordinate’s knowledge
• Certification issues • Incorrect inspection statements • Failure to document/explain adjustments
Safe. Sound. Secure.
Enforcement
What Investigations Are Revealing: • Work order issues • External obsolescence • ACGs – be careful doing residential • Work file issues
Safe. Sound. Secure.
Enforcement
• Downward trend in enforcement actions in recent years
• Sanctions for enforcement actions • Last Revocation case involving appraisals was in
2015
Safe. Sound. Secure.
Enforcement • Call from Fannie Mae • Involved appraisals completed by one appraiser in
2012 • Former appraiser was appearing in appraisal
reports completed by active Ohio appraiser • Also concern about volume of appraisals
completed
Safe. Sound. Secure.
Enforcement • Team of individuals • Took sampling of work from a two-week
period • 142 different appraisals • Resulted in 58 different charges
- Misleading reports – inspection and assistance, and work file violations
- Resulted in a “Goldman hearing”
Safe. Sound. Secure.
Appraisal Management Companies
Sub. HB 213 • ORC 4763 – “clean up” • Written report requirements if for AMC:
o AMC information o Actual fee received for the assignment o If employee of AMC, a statement to that fact
Safe. Sound. Secure.
Appraisal Management Companies Sub. HB 213
• New Chapter - ORC 4768 • Defines
• Terminology • Activities requiring a license • Exemptions from licensure
• Sets out OREAB/Superintendent duties • Required • Permissible
Safe. Sound. Secure.
H.B. 213
Appraisal Management Companies • Sets out requirements for license
• Application and renewal processes • Criminal history checks • Basis for refusing a license
• How an AMC may terminate an appraiser • Record retention requirements
Safe. Sound. Secure.
H.B. 213 Appraisal Management Companies
• List of “Shall Not’s” • Compensation
• In a timely manner • In compliance with presumptions of C&R
• Complaint and enforcement processes • Disciplinary actions available • Spells out which violations are felonies,
which are misdemeanors
Safe. Sound. Secure.
Ohio Division of Real Estate &
Professional Licensing
77 S. High St. 20th Floor Columbus, OH 43215
Safe. Sound. Secure.
Questions? Anne M. Petit, Superintendent
Ed Woodruff, Staff Attorney Shannon Drawns, Enforcement Chief
Ohio Division of Real Estate & Professional
Licensing [email protected]
614-466-4100 Follow us on Twitter: @OHDIVRealEstate