2016 INSTRUCTOR SEMINARS DEPT. BUSINESS & PROFESSIONAL REGULATION DIVISION OF REAL ESTATE APPRAISAL UPDATE

APPRAISAL UPDATE 2016 By the Numbers Florida Update Legal Eagles Section Federal Update

By the Numbers…

TOTAL APPRAISAL LICENSES - FLORIDA

HOW DOES FLORIDA COMPARE? States with the largest numbers of licensees*  * Source: ASC Website 06/02/2016 StateNumber of Licensees California10,544 Florida6,563 Texas5,270 New York3,881 Illinois3,694

HOW DOES FLORIDA COMPARE? Total Appraisal Credentials Nationally* *Source: ASC 2015 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 How many FREAB complaints received?

Florida Update

FLORIDA STATUTE CHANGES SB 608 – 475 Part II Changes, Appraisal  Effective July 1, 2015       

FLORIDA STATUTES / RULES - RECENT Florida Statutes  HB – Unlicensed activity fees Florida Rules –  61J – 11/17/2015  61J – 2/2/2016  61J – 2/2/2016

FLORIDA - ONGOING PROJECTS  Interagency AMC Final Rule  Rule Effective August of 2015  States then have 3 years  Stay tuned…  Website Changes

LEGAL EAGLES

Business Registration / Updating Address Work File Legal Cases

LEGAL EAGLES The Appraisal Foundation – Remedial Education Survey  10 categories:  10. Highest and best use  9. Standard 3 review appraising  8. Staying USPAP compliant : dealing with your client  7. Staying USPAP compliant: recordkeeping  6. Report certification: what am I signing and why?  5. Supervisory appraiser role and expectations  4. Neighborhood analysis  3. Scope of work: inspections  2. The approaches to value  1. Report writing vs. filling out form

FEDERAL UPDATE

Federal Update Appraisal Subcommittee (ASC) AAnnual Report AAdvisory Committee RResults on asc.gov NNational Registry UUnique Appraisal ID Number AAMC National Registry Rule – 5/2016 AAMC Regulation UUpcoming Policy Statements DDiscussion Points

The Appraisal Foundation (TAF) CCourses: IIntroduction to USPAP UUSPAP Terms RRemedial Education IInvestigator Training FFocus on Consumer AArticles, Booklets VVideotaped Messages w

Appraisal Qualifications Board (AQB) CCriteria effective January 1,2015 BBackground Checks – Newer Section AAlternatives EExposure Draft #1 CConcept Paper AApproved degree programs

AQB: May 2015 Version; Qualifications for Appraisers

AQB CRITERIA – BACKGROUND CHECKS Background Checks  Implementation date: January 1, 2017  Florida

AQB CRITERIA – EDUCATION CriteriaFlorida Rules Degree10.003, Experience – good for 5 years Hour USPAP Course – every 2 years Supervisor / Trainee Class4.010,

AQB CRITERIA - SUPERVISION Supervision CriteriaFlorida 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 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 …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 CriteriaFlorida Jointly maintain log 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 – 3 trainees A Trainee Appraiser is permitted to have more than one Supervisory Appraiser.

AQB CRITERIA AQB – 2014, 2015, 2016  Public Testimony at Meetings  Presentations to the AQB  Other Presentations  AQB Concept Paper

AQB CRITERIA AQB – First Exposure Draft – May 18, 2016  1. Alternative Track for Licensed Residential to Certified Residential  2. Enhanced Practicum Curriculum  3. Alternative Experience  4. “Trainee” Nomenclature  5. Three-Year Supervisory Jurisdictional Requirement

Federal Update Appraisal Standards Board (ASB) 2 USPAP Changes AAdopted February 6, 2015 RRelease of Final USPAP EExposure Drafts - 4 RRetirement of Standards CConfidentiality CContinued FAQ’s

Appraisal Standards Board (ASB) 2 USPAP Exposure Draft #1 AApril 13, 2016 55 Sections SStay tuned…

DEPT. BUSINESS & PROFESSIONAL REGULATION DIVISION OF REAL ESTATE Thank you for the privilege