2015 INSTRUCTOR SEMINARS DEPT. BUSINESS & PROFESSIONAL REGULATION DIVISION OF REAL ESTATE APPRAISAL UPDATE

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 StateNumber of Licensees California10,991 Florida6,365 Texas5,307 Illinois4,034 New York4,006

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

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 AAnnual Report AAppraisal Hotline E / call / refermyappraisalcomplaint.com AAdvisory Committee RResults on asc.gov NNational Registry UUnique Appraisal ID Number AAMC National Registry AAMC Regulation UUpcoming Bulletin UUpcoming Policy Statements

The Appraisal Foundation RRemedial Education Survey CCourse: Introduction to USPAP 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 EExam pass rates AAlternate track AApproved degree programs

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

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

Consumer Finance Protection Board (CFPB) NNew Agency DDisclosure/Delivery of Valuations w

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       

FLORIDA RULES Other Florida Rules:  61J Distance for Post  61J Meetings

FLORIDA - FUTURE PROJECTS Future Projects  AMC Final Rule  AVM Quality Control – Possible Upcoming Rule Website Changes

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