Author Archives: icapweb

ICAP’s 2019 Career Expo and Networking 

ICAP’s 2019 Career Expo and Networking 

Join ICAP for an evening of networking.

November 19, 2019
5:00 – 7:00 p.m.
205 West Wacker, #202 Chicago, IL

Featuring special guest speaker Mario Treto, the Acting Director of Real Estate for the Illinois Department of Financial and Professional Regulation

Food, drinks and giveaways will be provided.

Registration is limited!

If you have any questions, please contact
info@icapweb.com

Appraisers/Networkers Register For Free Here

Employers Register Here

Join These companies and more!

ICAP in Washington, D.C.

ICAP in Washington, D.C.

Thursday – October 17, 2019:

ICAP attends The Network of State Appraiser Organizations (NSAO) Meeting

Representatives from approximately 17 State coalitions (including ICAP’s President Karen Emerle, SRA) gathered in Washington, DC on October 17, 2019 at the National Association of Realtors Building. Prior to and in-between guest speakers, introductions and a synopsis covering ongoing coalition work in the different States was presented. One noted comment:  Inspections requiring “quality and condition” are not just a statement of fact, but part of the appraisal process calling for judgement by the appraiser. Guests Stephen Cannon and Allison Sheedy, partners in the Constantine-Cannon LLP firm, updated those in attendance on the Louisiana FTC case and the de-minimis threshold increase. Guests David Bunton and Kelly Davids from The Appraisal Foundation centered the discussion around evaluations, USPAP Standards, Industry Advisory Council, public meetings, Departure Rule, FIRREA, Interagency Guidelines, number of licensees, PAREA, de-minimus transaction value, waivers, HR2852, HR3619, and reports from the Government Accountability Office and Treasury. The last guests of the day were Phil Crawford (Voice of Appraisal), Jonathan Miller (Housing Notes), and John Russell (ASA Lobbyist). Topics briefly covered included bifurcation, machines, single-family investment market, bond market, waivers, LTV futures market, AVMs and modernization. Phil Crawford and Lori Noble (WVCAP) previewed and invited all to join findmyappraiser.com (owned and operated by Voice of Appraisal Productions LLC).

Friday – October 18, 2019:

ICAP attends the ASB Public Meeting and House Financial Services CommitteeStaff Representative Meeting

Attendees at the ASB Public Meetinglearned that the 2020-21 Edition of USPAP is ready for purchase, the instructors’ re-certification course is available, and the national USPAP real estate appraisal course is developed.

The public hearing centered on “Evaluations”. Chairman Miller informed the audience that the ASB was still in the information gathering stage and no decision has yet been made. He touched on the construct of FIRREA, real estate property, market value of real property collateral federal financial agencies definitions, public trust, the absence of current standards, the rising de-minimus levels, who can perform evaluations, and complying with USPAP for appraisers who perform evaluations. The ASB received 65 comment letters. Panels for the public hearing on evaluations included lenders/financial institution contractors, state appraiser regulators, and professional appraisal organizations. Representing the lenders/financial institution contractors were Sharon Whitaker (ABA), Katherine A. Owen (BofA), Mark Chapin (REVAA) and Gerald (Jerry) Yurek, (PNC Bank). The state appraiser regulators included Bruce Unangst (LA Real Estate Appraisers Board), Kristen Worman (Texas Appraiser Licensing and Certification Board), Neva Conway (AL Real Estate Appraisers Board), and Gae Lynne Cooper (OR Appraiser Certification and Licensure Board). Jim Murrett (AI), Francois (Frank) K. Gregoire (NAR), John Russell (ASA), and William Riedel (Network of State Coalitions) offered perspective for the professional appraisal organizations. Each panel presentation was followed by a Q & A session. The Evaluation Standards in USPAPconcept paper and written comments received can be found on the Appraisal Foundation website:  https://www.appraisalfoundation.org/imis/TAF/Exposure_Drafts.aspx

“NETWORK” State coalition representatives had an opportunity to meet with Pierre C. Whatley. Part of the Honorable Maxine Waters, Chairwoman, of the House Committee on Financial Servicesprofessional staff, Mr. Whatley provided the appraiser coalition representatives amble time to discuss a variety of current issues surrounding the appraisal profession. Some of the topics touched upon were:  Modern technology, rural “shortage” issues, the AMC role, FRTs, de-minimus, TRID, waivers.

Saturday – October 19, 2019

ICAP attends the AARO 2019 Fall Conference

Saturday morning activities included three “Round Robbin” topics: New AARO Website, How Evaluations Co-exist in a USPAP World, and TAF Resources for State Regulators.

Seven bids with each provider having a different idea for the New AARO Website.Panelists Brandy March (IA) and Corey Kost (ND) provided a preview comparison between the current and the NEW website. Development goals included the ability to increase effectiveness, utilization, and usability. Selected for ability to expand, provide AARO vetted CE offerings, add/change features, and additional future potential use options. The vision for the new website included such items as event emails, administrative efficiencies, payments, discussion forums/blogs, links to each State’s rules, statutes, program administrators, et cetera.

Panelists Gae Lynne Cooper (OR), Wayne Miller (ASB), and Paul Ping (CBRE) presented How Evaluations Co-exist in a USPAP World. Approximately ten states, including Tennessee, Virginia, and Utah, are considering “evaluation exclusions” to their ordinances. Panelist Cooper stated Oregon allows for unlicensed people to do evaluations. Effective January 1, 2020, ORS 674.100 is amended to allow state licensed or state certified appraisers to perform evaluations if the evaluation includes a disclaimer as specifically stipulated in the amendment: “I am a state licensed appraiser or a state certified appraiser. This evaluation was not prepared in my capacity as a real estate appraiser and might not comply with the uniform standards of professional appraisal practice.”Link: https://olis.leg.state.or.us/liz/2019R1/Measures/Overview/SB109. Panelist Miller said that USPAP wasn’t developed specifically to dictate what or what not a financial institution can do. Within USPAP, it doesn’t really matter what you “call it,” it is an appraisal (ref: USPAP AO 13 2018-2019 Edition). The Interagency Guidelines carve out exemptions and describes the minimum content that should be included in an evaluation. Panelist Ping focused on evaluations from a financial institution perspective. Outlining the various necessary items to be included in the evaluation, (client, intended use, interest being valued, approach to value, H & BU, MV, Exposure Time, Certification), Mr. Ping believes an appraiser can perform an evaluation and comply with USPAP as the Interagency Guidelines say: “must use someone who is knowledgeable on real estate in that market to render that opinion.” Interagency Guidelines are the rules for banks to follow. While each institution is different in deciding who does or does not get an evaluation and/or appraisal, the Guidelines provide instruction that each financial institution has in place risk based programs to manage appraisal and evaluation products, establishing how the institutions obtain these products. Evaluations on what is considered a “low risk” loan today, tomorrow might no longer be considered “low risk.” Final thoughts posed to the audience: “Who should do evaluations? Should appraisers be mandated to follow USPAP?”

TAF Resources for State Regulatorspanelists were David Bunton (TAF) and Kelly Davids (TAF). Their presentation covered AQB Course Approval Programs, Voluntary Disciplinary Action Matrix, AQB Real Estate Degree Review Program, Resources, and State Regulatory Advisory Board. All jurisdictions utilize the same licensing exams. The current pass rate is 65% and it is believed the pass rate should never be above 70%. The Investigator Training Program is one of the most successful programs and is realized through AARO. Three levels of instruction, taught by regulators very familiar with the topics and also are the subject matter experts on the material. 100% of the cost is reimbursed by the ASC. Each state is allowed two participants. If openings exist, more are allowed. There is a “wait list.” The courses are offered throughout the country, so everyone has access. The Voluntary Disciplinary Action Matrix grid (2008-2009) was based on parameters from the Arizona Appraisal Board. There are five levels of disciplinary action, minimum to maximum disciplines. The 2020-2021 Matrix will soon be up on the website. The AQB Real Estate Degree Review Program includes the AQB approved degrees in Real Estate list which can be found on The Appraisal Foundation website (http://appraisalfoundation.org.) Twenty (20) programs have been approved. TAF has a number of resources available:  U-tube channel includes AF “Who We Are”, a number of videos (first one in 2010) and webinars, some of the brochures have been made into videos. The resources found on the website may be reproduced and used. Developed from the Level I Investigators course is a four hour Introduction to Terms and Concepts of USPAPcourse. Residential Review and USPAP Compliance. Multiple brochures, fact sheets and other information is available (ASB and USPAP, AQB and Minimum Qualifications, Restricted Appraisal Reports, TAF Fact Sheets.

Mr. Bunton and Ms. Davids are available for speaking engagements, mostly at their expense. See link for additional information:

http://tafapp.advsolhosting.net/imis/TAF/About_Us/Request_a_Speaker/TAF/speaker.aspx?hkey=eb1d75a5-edb9-4300-8f3b-63e273095cf1

The Q and A Forum, Standards and Qualifications typically provide a 24 hour response time. If a question has broader implications, it is posted on their website. There are now over 400 Q and A’s posted by tag lines on the website. It can be found under Standards and Qualifications on the home page. The link is: https://www.appraisalfoundation.org/imis/TAF/Standards/Q_As/TAF/QAs.aspx?hkey=29db1bf8-827d-4f7b-b525-06ac9f596637

Corrective education is now available online. While anyone can take these courses (cost $250-$300), they are not IDEC approved and are not approved for CE in any of the jurisdictions. Four courses are currently being updated to 2020-21 USPAP.

http://tafapp.advsolhosting.net/imis/TAF/Resources/Courses/Corrective_Education/TAF/Corrective_Education.aspx?hkey=cc07ba59-d601-4c3c-9d37-ec5750dbbf94

Four new courses will be coming out next year (2020): (1) Missing Explanations, (2) Extraordinary Assumptions and Hypothetical Conditions, (3) Competency, and (4) Reconciliation of Comparable Sales.

The AF vision and mission statement(s) is about maintaining Public Trust in Valuation. As such, it was suggested “we should talk with and not at each other”.http://tafapp.advsolhosting.net/imis/TAF/About_Us/TAF_Boards/TAF/TAF_Boards.aspx?hkey=7b71f017-fd58-4c72-bf3c-90fdfb06cd56

USPAP: In April, released the course outline. Mid-summer, the course given to course providers. Online approval to states, and in the next several weeks, it will be online and on the streets. TAF requested a grant, which is awaiting approval, in order to provide each jurisdiction with two copies of the 2020-21 Edition of USPAP.

http://tafapp.advsolhosting.net/imis/TAF/Standards/Appraisal_Standards/Uniform_Standards_of_Professional_Appraisal_Practice/TAF/USPAP.aspx?hkey=a6420a67-dbfa-41b3-9878-fac35923d2af

Afternoon sessions included Job Function Breakouts. Two cycles per job function, some of which were closed to the public.

ICAP attended the Education Providers, Appraiser Associations & Appraiser Related Organizations session, moderated by Deanna Ilk (ASFMRA) and Charlie Gress (OCAP). The main topic of discussion centered on the “Standardization of CE Amongst the States” initiative. The initiative would provide: (1) an easier way to obtain CE approval from other states once credit for a CE course has been approved by one state, (2) a reciprocity site listing which courses are approved in each state, (3) a national portal for licensing, (4) interstate agreements in place between states providing automatic approval in next state, (5) core set-up requirements in each state equal to requirements in other states, and (6) maintaining state fees. Additional discussion topics were: (1) standardization of licensing; national mortgage licensing system, (2) ASC application for grant money in order to do review work, (3) current disciplinary issues would suggest a potential “current topic of interest” that might be developed as a CE course, and (4) potential ways to better the practitioners. Texas already has a model—peer review work. Ohio, “Appraisers Helping Appraisers”.

Sunday – October 20, 2019

ICAP attends the AARO 2019 Fall Conference

Advisory Council Meetings held in the morning included the Professional Organizations Advisory Council, chaired by Karen Emerle (ICAP). The APOAC meeting discussed topics related to the four identified responsibilities of the council. Compliance with education and qualifications requirements included the agreement amongst states for minimum CE approval requirements, interstate formal agreements, the hope all jurisdictions would participate, and suggestions for approving those CE topics/courses mandatory within a specific jurisdiction. Appraiser challenges consistent with regulatory authority the participants felt were still the top two issues are evaluations and waivers. For promoting appraiser professionalism within their jurisdictions, suggestions that might be considered for implementation revolved around how to encourage their licensees to join a related professional organization, provide a peer review/mentoring program with qualified instructors/mentors, and how to qualify one as an instructor/mentor. To do this, it was suggested an AQB Certified USPAP Instructor be used, and/or provide an educational program which would qualify an individual to become an approved instructor/mentor.

The Trainee Progress Monitoring presentation was presented in the afternoon. Panelists were Claire Brooks (ASC), Diana Piechocki, (AR), and Dee Sharp (WA).

Panelist Brooks reiterated the AQB Criteria for trainee supervisors and the difference between some state requirements as to the number of trainees allowed each supervisor. She felt the biggest hurdle is finding competent supervisors. The challenge is to find a proper balance without making the criteria too restrictive and stringent. Suggested a supervisor could have more than three trainees provided the following three things were in place: (1) progress monitoring (2) supervisory certified appraiser qualifications (3) supervision and oversight requirements of supervisory appraisers. Progress and monitoring definitions should be given.

Panelist Sharp spoke about Washington State’s current program. Ms. Sharp felt the biggest challenge is getting into the industry, finding a supervisor. Washington’s rules/laws for a supervisor with more than three trainees is to “not to exceed eight in all progress levels at any one time.” Mentoring plan and an application to the Department which allows the trainee to have the State do a “review (check)” of their report in the first six months. One can be an appraiser and a business owner, but not necessarily a “teacher”.

Panelist Piechocki, the current Director of the Arkansas Appraiser & Licensing Board, has prior experience as an investigator (4 years) and as an appraiser (19 years). The AR Board is a decision making board consisting of ten members (7 practicing appraisers, and one each consumer representative, banker, and senior citizen). In 2014, AR decided they did not want to allow outside education providers to offer the supervisor/trainee class. They use the AQB Criteria plus AR requirements. Director Piechocki meets every trainee, knows them well, as she shepherd’s them through the process, and says the criteria is an “opportunity wrapped up in a requirement.” Director Piechocki stated Arkansas has not as yet adopted this as a requirement: She is suggesting that the first trainee log must be submitted at 500 hours (or 496, et cetera.) The idea is to make sure the trainee is getting started correctly. The next log submission would be at 1500 hours. It would include a recently completed report of their choosing. This submission would check whether or not the trainee was continuing to perform any identified corrections noted from the first log review. If the trainee is not signing the report, they want to know the trainee is being duly noted in the report for experience credit. The final experience log is submitted with the trainee’s application to upgrade. Once all the required items are received, then the trainee must come in for an interview. If the process has not been followed, then the Board can file a complaint against the supervisor. The trainee can’t practice before their credential is issued.

Monday – October 21, 2019

AARO 2019 Fall Conference

The day’s general sessions included four presentations: (1) Modernization of Title XI- Prospects for a Nationwide Appraiser and AMC Licensing System, (2) Different Perspectives on Background Checks: State, Federal & Others, (3) Casual Conversation with the ASC about Reciprocity, and (4)AMCs- Behind the Scene: Functions, Operations & Quality Control.ICAP was not in Washington, D.C. for Monday’s sessions. However, if interested the PowerPoint presentations should eventually become available on the new AARO website: https://aaro.net/

Highlights from ICAPs 2019 Seminars

May 20, 2019, Lisle-Sheraton Hotel, Lisle, IL
2019 Illinois Appraisers Update Seminar

ICAP Reporter: Karen Emerle, SRA
ICAP Photographer: Richard deVerdier, MAI, SRA, AI-GRS (Lisle), Theodore Neff, SRA (Collinsville), Karen Emerle, SRA (Springfield)

Approximately 280 appraisers gathered together on May 20th in Lisle, Illinois to attend the Illinois Coalition of Appraisal Professionals’ (ICAP) third and final 2019 Annual Update Seminar. A good turnout was also seen at the first two seminars. Combined, approximately 160 appraisers attended the seminars in Springfield on March 11th and Collinsville on April 1st. ICAP would like to thank its members for their continued support and for your consistent attendance at our seminars. Your Membership Matters!

The year 2019 marks ICAPs 25th anniversary of proudly serving all real estate appraisers in the State of Illinois. ICAP was established in 1994 as a political action group. Its purpose—to be a unified voice for the appraisal profession in Illinois. Its mission—“to promote the appraisal profession and its image to the general public and to users of appraisal services. ICAP initiates discussion and analysis of issues affecting professional appraisers and monitors political action with the intent to influence legislation, regulation, and public opinion toward the appraisal profession.” ICAPs sponsoring organizations include the American Society of Appraisers (ASA), the American Society of Farm Managers and Rural Appraisers (ASFMRA), and the Appraisal Institute (AI).

Opening remarks enumerated ICAPs accomplishments on behalf of Illinois appraisers and outlined ICAPs various areas of participation in local, state and national issues affecting the appraisal profession. A heartfelt thank you was extended to the ICAP membership for attending ICAPs seminars and faithful contributions, and to the many current and past Board members and committee members who volunteer their time working hard on behalf of the appraisal profession.

“My, how you’ve grown!” A common remark we often heard as a growing child or one made as an adult to a child. But, how do we know if we have grown professionally? Growth does require nourishment of some kind, and in appraisal practice may I suggest the nutrient is found in our continuing education instruction? Just receiving instruction doesn’t guarantee the understanding and obedience that produces professional maturity. How we listen to instruction plays an important part in our professional development. For the deluded or deceived listener simply hearing the instruction is sufficient. This type of listener doesn’t carefully consider what they hear, or allow it to have any impact on their thinking, attitudes, or practices. The distracted listener is the person who feels encouraged at the moment on hearing the instruction, but quickly forgets what it was about. The attentive listener exams and considers what is heard, is guided by and applies the instruction to their professional practices. The obedient listeneris one who takes seriously what he has learned and makes it principal in their professional practice. Nutrients for our professional growth were offered by all ICAPs 2019 speakers. The choice of how to listen rests upon the individual—which type will you choose to be?

Craig Capilla,attorney with the Franklin Law Group focuses his practice on representing appraisers and other professionals in state and federal lawsuits as well as various licensing bodies. Mr. Capilla’s presentation “The Calm Before the Storm? Litigation Against Appraisers is Down. Time to Relax?” draws our attention to past, present, and future trends in the real estate market, a market and complaint slowdown, or is it?, coming assignment changes on the horizon, increasing thresholds, agricultural and retail concerns. Mr. Capilla posed the questions if performing assignments using alternative valuation models brought increased opportunity, and whether or not there might be related potential unintended consequence risks? Up to date rulings related to the Zillow and big data class action law suit were provided. Mentioning USPAP AO21 Mr. Capilla made suggestions on finding new ways to enhance Your value. Mr. Capilla suggests asking ourselves “What did I do? And Why did I do it?” to help us determine if we have explained our work, clearly and concisely. Remember also to maintain the appropriate level of work files and develop the “4th Approach” to value….”would I pay this for that?” “Tools of the Trade” closed his presentation which highlighted suggestions for data aggregators, analytics tools, file management software and digital storage devices.

Craig Capilla,attorney with the Franklin Law

Richard Knitter, multi-state licensed general appraiser served three multi-year terms on the Appraisal Foundation’s Appraisal Standards Board (ASB). Mr. Knitter’s “Sneak Peak – Upcoming Changes to the 2020-21 Edition of USPAP”presentation was a precursor to the forthcoming edition, expected to include a number of significant changes. The exposure drafts themselves were voluminous. Speaking at all three seminars required Mr. Knitter to amend his presentation for each seminar as exposure drafts were released, discussed, amended, and a final 2020-21 Edition of USPAP, just prior to the Lisle Seminar, was adopted. Mr. Knitter’s presentation highlighted the available report options, changes adopted, and changes to the Competency Rule, Definitions, Standard Rules Comments, Scope of Work Rule, and Advisory Opinions—new, retired, or revised. Mr. Knitter encouraged everyone to write to the ASB, sharing your ideas by emailing your comments and suggestions to the ASB for their consideration of possible future changes. And, be engaged when the next Exposure Drafts for Proposed Changes to USPAP are released. How?; by submitting comments on the proposed changes. The ASB does value your input and does read each and every comment they receive. Point in fact, the unheard of fourth exposure draft and delay in the final adoption of the latest 2020-21 USPAP Edition was due in part to the comments received.

Richard Knitter, Great Realty Advisors

A general reminder from ICAP to all Illinois licenses appraisers—the 7-hour USPAP Update continuing education seminar course covering the 2020-21 Edition of USPSP must becompleted no later than June 30, 2020. Reference is the IL Admin. Code Title 68, Chapter VII, Sec. 1455.160(a)(3). ASB is in the process of writing the course. It should become available sometime after October, 2019.

Innovative Appraisal Technology,presented by LeeAnn Moss, an accomplished professional. LeeAnn brings her vast knowledge, skills, talents and expertise as an agricultural economist, consultant, real estate broker and auctioneer, certified general real estate appraiser, AQB certified USPAP instructor, accomplished instructor and course developer, and farm real estate related services provider together to provide a look at technology use in the appraisal profession through the eyes of history, status and trends. Discussing industry digitization, major innovations, challenges ahead, USPAP applicability, methods of valuation, artificial intelligence, data science, and additional tools. LeeAnn left us thinking about whether a “new industry paradigm” or “new appraiser thinking is needed.”

LeeAnn Moss, AcreValue Granular

Ryan Nelson is the Valuation Officer for the U.S. Department of Veterans Affairs based in the St. Paul Regional Loan center, one of eight VA regional loan centers. Mr. Nelson’s presentation VA Appraisal 101provided appraisers an overview of the VA Home Loan Program addressing VA Home Loans, the loan process, and the VA Lenders Handbook policy document. How the VA appraisal process is different and appraiser VA requirements were explained. Mr. Nelson provided some reference tools and for general questions, the toll free telephone number is: 877-827-3702 opt. 5. The St. Paul Regional Loan center is currently recruiting appraisers in Illinois rural areas.

Ryan Nelson, U.S. Dept. of Veterans Affairs, St. Paul Regional Loan Center

John D. Russell is ASA’s Senior Director of Government Relations and Business Development. Mr. Russell encouraged us to get more engaged, active, and involved with our organizations. Mr. Russell spoke about turbulent times, especially for the residential appraiser which have become commodities—but, we are people! He mentioned that real estate agents do appraisal waivers, property valuation, evaluations, AVMs, hybrids. Mr. Russell asked, “What is an FRT (federally related transaction)? Providing a brief history, of the threshold limit increases, he noted that today 90% of all lending activity is notfederally related transactions, and approximately 56% of lending activity falls below $250,000, and 72% falls below $400,000 thresholds. Send your comments to the Consumer Financial Protection Bureau—there are no “bad ideas.” In between mandatory states and voluntary states are those states that are mandatory FRTs.

Mr. Russell continued his presentation touching on appraisal process modernization, hybrid products, the “duty to serve requirement”, Freddie Mac “sweat equity program”, property data update, mobile apps, collateral validation, the Form 1004P and reminded everyone GSE conservatorship remains until 2020. There is a fixation on “time” and “cost.” In the evaluation space the question raised was, “Does anyone think these are being done for less than an appraisal and in less time?” A survey in South Carolina and Virginia found it took 9 days which when an AMC becomes involved the time increased to 18 days; average is 5 days. Hybrids are not saving time or saving money. Motivation of agents is to get the deal done in order to receive their commission. Reminding everyone, this is about people! The home buyer is making their single largest investment and should view the appraiser as the consumer protection tool! The question of value becomes a lot more inclusive: retrospective, prospective, range of values (or point), and curb to porch value asks is this fair? Does this make sense? The appraiser should write up their scope of work, and the engagement letter. There are no AMCs when it is just the home buyer. It is a better product, with more information, you make more, and the owner pays less. Residential real estate transactional appraisal work. The VA panel is a rotation panel based on a fee schedule. There is no rotation panel in Dodd Frank. Mr. Russell closed is presentation, leaving us with the thought, “You can’t race to the bottom just to get the work.”

John D. Russell is ASA’s Senior Director of Government Relations and Business Development

Joel Ward’s Best Practices: Techniques for Creating Credibilitypresentation is derived from his 7-hour CE “Best Practices” course which was inspired by Joel’s Illinois Appraisal Board experience. Joel tells us USPAP Standards 1 and 2 set “best practices” with two prime directives: Produce a credible appraisal and communicate the results in a manner that is not misleading. Packed with information to guide the appraiser toward understanding how one can produce a “worthy of belief” appraisal, recognize when “credibility” might not be reasonably achieved, and what methods could be utilized to create appraisal credibility. Joel provides examples of both epic failures and solutions covering a variety of issues, such as: reasonable exposure time, listing and sales history, market analysis, comparable selection, site valuation, and various adjustments to answer the critical question, “is this appraisal worthy of belief?”

Joel Ward, Joel Ward Homes

Brian Weaver, Real Estate Appraisal Coordinator & AMC Coordinator for the Illinois Department of Financial and Professional Regulation. Always informative, What We Need to Know Now!, did not disappoint. Coordinator Weaver acquainted the attendees with the new IDFPR Director Mario Treto, Jr. Coordinator Weaver made mention that the appraisal profession lost two respected mentors in 2019, legendary appraiser Eugene Stunard and educator Steve Patten.

 

Brian Weaver, Illinois Department of Financial and Professional Regulation

Currently in Illinois there are 1544 Certified General Licensees, 2151 Certified Residential Licensees, 399 Trainees, 101 approved QE Courses, and 326 approved CE courses. The 500 appraisers which do not live in Illinois were sent a reminder link to fill out the CE form and update. Two weeks before April 1st, 557’s were held up and off from receiving their licenses so they didn’t need any hours for this renewal cycle. The Rules provide a pass on required CE hours to a real estate appraiser issued an initial license for less than 185 days prior to the expiration date of the license. (Sec.1455.160) The year 2006 saw 637 applications for 557 licenses, 243 applications for 556 licenses, and 86 applications for 553 licenses. In comparison, in 2018, respectively there were 102, 26, and 64 applications. How many days does it take upgraders, from completing and submitting an application to issuance of that license?

Year Days
2015 190.23
2016 166.55
2017 165.00
2018 187.65
2019 160.70

HB5502 became law, removing both the two year cycle limit and trainee exam. The criteria requires that qualifying education (QE) must be 5 years within exam. QE classes are sometimes licensed as CE classes too; and qualify for both CE and QE. If one is trying to upgrade as a trainee 30 hours (28 CE hours, 2 Exam hours).

How many are retiring this year? Write IDFPR an email saying, “I am retiring.” Please.

The biggest complaint for appraisers, in 2017 / 2018, are for unpaid state taxes; 33 faced or received suspensions. Spikes in the enforcements/complaints during the past five years are due to CE audits.

Year Number
2014 240
2015 188
2016 185
2017 139
2018 258

AQB criteria has changed. For those upgrading their Trainee to Certified Residential, the number of experience hours went from 2500 hours in no fewer than 24 months to 1500 hours in no fewer than 12 months. Certified General kept the 3000 hours experience requirement but changed the time frame from 30 months to 18 months. Trainees need core QE courses no older than 5 years, completion of the supervisor trainee course, an application and fee. An exam is not required.

2019 License Renewal
CE completion date 6/30/2019
Renewal date 9/30 Odd Years
USPAP 6/30 Even Years

CE lookup is available online at the IDFPR website. The July-August-September “Donut Hole” will be fixed going forward. However, for the 2019 renewal if one has completed all required 28 CE hours by 6/30/2019, then “whole” courses taken after July 1, 2019 will count toward the 2021 renewal cycle. “Whole” courses mean one cannot split a course between or into two cycles. Also it is the responsibility of the appraiser to make sure the education provider notifies the Department that the hours would apply to the 2021 renewal cycle. The May 17, 2019 CE Policy Statement, newly issued by Director Treto, can be found on the IDFPR website under “Notices” in the License Information Tab section.

A reminder, again: Effective June 1, 2015, and for consumer protection, Section 1455.245 of the Administrative Rules requires all appraisal reports of a 1 to 4 residential units property prepared by licensed real estate appraisers must include the statement “The comments by the licensed real estate appraiser contained within this appraisal report on the condition of the property do not address “standards of practice” as defined in the Home Inspector License Act [225 ILCS 441] and 68 Ill. Adm. Code 1410 and are not to be considered a home inspection or home inspection report.”

Addressing the future of appraising, Coordinator Weaver reminded everyone the consequences of Hybrids was “spelled out” in the IDFPR February 2019 Newsletter, which can be found on the IDFPR website under “Newsletters” in the License Information Tab section.

And, last but not least, Coordinator Weaver reminded all attendees that the IDFPR needs a good email address for everyone.

ICAP also wishes to thank each of the speakers for sharing their expertise and providing attendees with an excellent seminar program. Craig Capilla, Richard Knitter, LeeAnn Moss, Ryan Nelson, and Joel Ward’s presentations can be found on the ICAP website. www.icapweb.org, and their contact information is provided in the footnote below.

ICAPs emcee for the day was Randy Barcella, Real Estate Revealed. Randy’s show can be heard Sundays on Wealth Essentials Radio, AM560 the Answer. Thank you Randy for graciously hosting the day’s events.

ICAP wishes to thank our sponsors and the vendors who participated this year providing appraisers and attendees an opportunity to meet and learn more about the services offered to the profession. Randy’s, the sponsors’, and the vendors’ contact information is provided in the footnote below.

ICAP wishes to extend a special thank you to all the participants who attended our 2019 Seminars. It is a privilege to serve you. Your continued participation helps ICAP be successful in serving you and our collective profession as we continually look forward to and face the challenges ahead. We thank all of you who took the time to complete the survey. Your feedback is important to us, and provides us necessary information as to how we can better serve you, our fellow appraiser professionals.

Your Membership Does Matter!

Karen Emerle, SRA
2019 ICAP President & 2019 Seminar Chair

 

Footnote – Sponsors, Vendors, and Speakers

ASFMRA,American Society of Farm Managers & Rural Appraisers, www.asfmra.org

AI,Appraisal Institute, 25 plus years supporting ICAP, premier education provider, www.appraisalinstitute.org

ASA,American Society of Appraisers is a multiple disciplinary organization: Fine Arts, Gems & Jewelry, Business Valuation, Real Estate, ASA NAIFA merger with NAIFA complete June 2018. www.appraisers.org

Landy InsuranceExpert in cyber security and insurance, New Bodily Injury & Property Damage Policy www.landy.com

MRED, Real Estate multiple listing service. Provides appraisers training sessions. On-site training available when there is a guaranteed 8-or-more appraisers in attendance. www.mredllc.com

Real Estate RevealedAM 560 The Answer, www.realestaterevealed.net, www.560theanswer.com

Craig Capilla, Franklin Law Group
Richard Knitter, Great Realty Advisors
LeeAnn Moss, AcreValue Granular
Ryan Nelson, U.S. Dept. of Veterans Affairs, St. Paul Regional Loan Center
John Russell, American Society of Appraisers
Brian Weaver, Illinois Department of Financial and Professional Regulation
Joel Ward, Joel Ward Homes

Be on the lookout for ICAP’S 2019 Seminar Mailer highlighting ICAP’s Seminars

Be on the lookout for ICAP’S 2019 Seminar Mailer highlighting ICAP’s Seminars

All Three ICAP Seminars Are Now Approved For 7 Hours Of Illinois & Wisconsin Appraiser Continuing Education

Everyone who registers for a 2019 ICAP seminar will receive a free customized luggage tag & wrap around luggage handle.2019 ICAP Seminar Registration Is Open
Don’t delay…reserve your space today. 

2019 ICAP Seminar Registration Is Now Open

2019 ICAP Seminar Registration Is Now Open

Don’t delay…reserve your space today. Click here to register.

Dates and Locations:

Springfield, IL – March 11th, 2019
Crowne Plaza
3000 S Dirksen Pkwy
Springfield, IL 62703
Register

 
Collinsville, IL – April 1, 2019
Doubletree Hotel
1000 East Port Plaza Dr.
Collinsville, IL
Register

Lisle, IL – May 20, 2019
Lisle Sheraton Hotel
3000 Warrenville Road
Lisle, IL  60532
Register

 
In addition to continuing education awarded by the State of Illinois, ICAP provides a vast array of business networking opportunities during ICAP’s annual summer seminars. Meet your peers and develop life-long connections.

2019 ICAP Seminars

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