Monthly Archives: December 2015
ICAP PRESIDENT’S YEAR END 2015 UPDATE
As my year as your president has come to an end, I wanted to give you my final State Of Illinois Appraisers Update.
My opening mantra: IF NOT NOW, THEN WHEN-really hit home at ICAP for 2015. The ICAP Legislative Committee and I continued many of the initiatives that started in 2014. You will see below what was accomplished by your Board of Directors. 2015 was a year of some of the most undertakings legislatively for ICAP in a long time. We also had great help and direction from the new Secretary of IDFPR-Brian Schneider. His mission to get things done correctly and on a timely basis was most needed.
Here are the highlights of what ICAP has done for you in 2015:
- 2015 99th General Assembly:
ICAP authored HB3333. Amends the Appraisal Management Company Registration Act and provides for an Appraisal Management Company Recovery Fund.
Amends the Real Estate License Act of 2000. In provisions regarding a statement that must be contained in a broker price opinion or comparative market analysis. “This is a broker price opinion/comparative market analysis, not an appraisal of the market value of the real estate, and was prepared by a licensed real estate broker or managing broker who was, not “acting as” a State certified real estate appraiser.”
- ICAP Supported Illinois SB2039
Governor Bruce Rauner signed SB 2039 Monday, December 7, to give the legal authority to appropriate the sum of $330,000, forwarding real estate appraisal fees to the federal government.
- 2016 Agenda 100th General Assembly:
- Passing through registration fees appraisers
- Separation of Appraisal & AMC Fees
- March 13th meeting with Senator Don Harmon (D),
- March 26th meeting with Bryan A. Schneider, Secretary, IDFPR
- September 2nd meeting with Illinois Lt. Governor Evelyn Sanguinetti.
- Bryan A. Schneider, Secretary, IDFPR & Brian Weaver-Appraisal attended ICAP’s June Board Meeting. Brian Weaver attended ICAP’s December Board Meeting.
- ICAP Lobby Day, Capitol Visit & Reception
Real Estate Appraisers gathered in Springfield on May 6th for an ICAP Lobby Day. ICAP established an “appraiser presence” in Springfield Illinois ICAP meeting with 20 Senators and Representatives.
- Fundraiser for Illinois Lt. Governor Evelyn Sanguinetti
- Fundraisers for various parties:
Democratic Party of Illinois, Senate Democratic Victory Fund, Annual Caucus Reception, House Republican Organization, Republican State Senate Campaign Committee,
- Attended Dinner Meeting November 12, 2015 Featuring:
Congressman Blaine Luetkemeyer Missouri’s 3rd congressional district
Congressman Dennis Ross Florida’s 12th congressional district
Congressman Keith Rothfus Pennsylvania’s 12th congressional district
Congressman Lynn Westmoreland Georgia’s 3rd congressional district
- ICAP-PAC Contribution Study:
ICAP is currently conducting a 5 year Political Action Committee (PAC) study analyzing $50,000 of political contributions since 2009
- Appraisal Institutes Latest Legislative Campaign
A conference call between ICAP, Bill Garber, Director of Government and External Relations and Scott DiBiasio Manager of State and Industry Affairs at the Appraisal Institute. The call focused on the Appraisal Institutes latest legislative campaign that the Appraisal Foundation says “could potentially impact appraisers and the appraisal regulatory system”.
- The Chicago Chapter of the Appraisal Institute was awarded the Appraisal Institutes State Government Relations Award.
- The Appraisal Foundation Advisory Council (TFAC): Attended 3 meetings by ICAP
- Association of Appraiser Regulatory Officials (AARO): Attended 2 meetings by ICAP
- Letter from IDFPR addressing ICAP Concerns about AMC Requirements
Though ICAP recommended changes to the Appraisal Management Company Rules were not made the letter did provide much needed clarification regarding the concerns.
- Proposed Administrative Rules (Real Estate Appraiser Licensing Act of 2002):
ICAP received the Department’s responses to ICAP’s comments that were received during the 1st Notice; Most of ICAP’s recommendations were acted on. Most of the changes reflected the AQB’s 2015 requirements.
- (RESPA) Working Group:
ICAP attended the IDFPR’s September 24th and October 29th meeting to establish a better understanding of the implications arising from the Consumer Financial Protection Bureau’s Oct. 3, 2015 Integrated Disclosure Rule and how the various industries in Illinois will adapt to create a seamless real estate process for the citizens of Illinois.
- State Appraisal Associations Work Group (NASO):
Signed FHRA Collateral Underwriter Program Letter (January 08, 2015) along with 19 other State appraisal coalitions. Melvin L. Watt, Director of Federal Housing Finance Agency (Fannie Mae) responded February 20, 2015. 23 state appraiser coalitions, including ICAP, worked together and submitted a letter to the CFPB about making it a requirement to separate the fees of the AMC and the appraiser at the closing table on the disclosures.
- Appraiser Qualification Board (AQB) Concept Paper:
- July 9th, the Appraiser Qualification Board (AQB) released a concept paper that explored the need for alternative tracks to obtain appraisal experience and potential ways to implement them. We put a committee together that responded on many levels of the draft and were successfully heard.
- Illinois Customary and Reasonable Fee Study:
ICAP formed a Customary & Reasonable Fee Study Committee and made recommendations for Illinois Proposed Customary and Reasonable Fee Study. These recommendations were sent May 31, 2015. ICAP is currently working with the Illinois Department of Professional Regulation to complete a fee study for the Appraisers in Illinois. We expect the study to be complete by June 2016.
I wanted you to see the depth of the work that your Directors have accomplished. We just raised ICAP dues for the first time in over 5 years, so the timing of this letter to show you what we are accomplishing is essential. For 2016, please come to one of our seminars. Also, please have an appraiser friend of yours that is not a member join. We are all part of the Membership Committee!
Our 2016 President, Mike Morris will continue to do what we started two years ago and then some! Good Luck Mike!
IF NOT NOW, THEN WHEN…..
HAPPY HOLIDAYS AND GOOD HEALTH TO EVERYONE!
With Folded Hands,
Rick Hiton, IFAS
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