Ohio Coalition of Appraisal Professionals 2018 Annual Summer - - PowerPoint PPT Presentation

• 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

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 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

20 40 60 80 100 120 140 160 2011 2012 2013 2014 2015 2016 2017 2018 Complaints Cases Charged

• Safe. Sound. Secure.

Enforcement

2016 2017 79 Complaints 42 Complaints Consumers Consumers Superintendent Actions Lenders/AMCs/Reviewer s Lenders/AMCs/Reviewer s 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:
• AMC information
• Actual fee received for the assignment
• 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

• f 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 Webreal@com.state.oh.us 614-466-4100 Follow us on Twitter: @OHDIVRealEstate