ohio coalition of appraisal professionals 2018 annual ...ocapweb.org/docs/2018/anne petit - summer...
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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
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Safe. Sound. Secure.
Overview of your division, how it plays a role in Commerce as a
whole, etc.
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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.
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Safe. Sound. Secure.
Ohio Appraisers By the Numbers
3
328
518
1345
1044
Credentials
Trainees
ALR
ACR
ACG
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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
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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
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* 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
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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
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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
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Safe. Sound. Secure.
Changes to Credential Criteria
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Safe. Sound. Secure.
Enforcement
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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
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Safe. Sound. Secure.
Enforcement 2016 2017
79 Complaints 42 Complaints
Consumers Consumers
Superintendent Actions Lenders/AMCs/Reviewers
Lenders/AMCs/Reviewers Superintendent Actions
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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
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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
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Safe. Sound. Secure.
Enforcement
What Investigations Are Revealing: • Work order issues • External obsolescence • ACGs – be careful doing residential • Work file issues
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Safe. Sound. Secure.
Enforcement
• Downward trend in enforcement actions in recent years
• Sanctions for enforcement actions • Last Revocation case involving appraisals was in
2015
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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
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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”
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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
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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
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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
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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
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Safe. Sound. Secure.
Ohio Division of Real Estate &
Professional Licensing
77 S. High St. 20th Floor Columbus, OH 43215
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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