APPRAISAL UPDATE

2 0 1 5 I N S T R U C T O R S E M I N A R S D E P T . B U S I N E S S & P R O F E S S I O N A L R E G U L A T I O N D I V I S I O N O F R E A L E S T A T E

APPRAISAL UPDATE 2015

 By the Numbers  Federal Update  Tips, Tips, Tips  Florida Update

By the Numbers…

TOTAL APPRAISAL LICENSES - FLORIDA

HOW DOES FLORIDA COMPARE?

 States with the largest numbers of licensees*  * Source: ASC Website 06/09/2015

State Number of Licensees

California Florida Texas Illinois New York 10,991 6,365 5,307 4,034 4,006

HOW DOES FLORIDA COMPARE?

 

Total Appraisal Credentials Nationally*

*Source: ASC 2014 Annual Report

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.”

COMPLAINTS IN FLORIDA

COMPLAINTS IN FLORIDA

HOW DOES FLORIDA COMPARE?

   Disciplinary Action Numbers Across the States* During years 2005 through 2014* * Source: ASC Annual Report 2014*

FEDERAL UPDATE

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

Degree

Florida

10.003, 10.004

Experience – good for 5 years 7 Hour USPAP Course – every 2 years Supervisor / Trainee Class 10.002

4.009

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 – BACKGROUND CHECKS



Background Checks

  Criteria for 2015 New Language  Florida

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. 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 - 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.

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

Jointly maintain log

Florida

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

TIPS, TIPS, TIPS

TIPS, TIPS, TIPS

 Update address  Business registration  Work file

TIPS, TIPS, TIPS

 Legal Cases  The Appraisal Foundation   Remedial Education Survey 10 categories

Florida Update

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 RULES

 Other Florida Rules:  61J1-4.009 - Distance for Post  61J1-7.020 - Meetings

FLORIDA - FUTURE PROJECTS

 Future Projects  AMC Final Rule  AVM Quality Control – Possible Upcoming Rule  Website Changes

Thank you for the privilege

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