Category Archives: The Good Stuff

The Good Stuff

Membership Renewals Are Due

Membership Renewals Are Due

A friendly reminder that ICAP memberships expired on January 1st, 2020 (unless you renewed your membership).

The Chicago Chapter of the Appraisal Institute and the American Society Of Appraisers pays the ICAP dues for all of its Designated Members. Be in the know, apply or renew your membership today !

Join or renew your 2020 membership on-line here, or you can mail this form with a check or use a credit card.

ICAP President’s 2019 Year End Letter-Rear View Mirror to Full Speed Ahead

Happy New Year to all ICAP Members!

A new year, the time one often looks both forward in hope and backward at what is left behind.

It has been a very busy year for ICAP.

2019, the year ICAP turned 25. ICAP is one of the longest running appraisal organizations in the country as well as one of the largest. ICAP proudly serves all real estate appraisers in Illinois, and owes that honor to all of you, our members, and those who have gone before you. Thank you!


On behalf of the ICAP 2019 Board of Directors, let me first say thank you to all our members for both your continued support and the privilege we have been given to serve you. Secondly, as President, let me thank each and every 2019 Director, who has voluntarily worked hard, diligently, proudly, and faithfully to fulfill this great responsibility to serve our membership. Serving you, our members, in 2019 are:

ICAP 2019 President and the Executive Committee Board of Directors:
Karen Emerle, Ron DeVries, Herbert Meyer, Lee Lansford, Ken Mrozek

ICAP 2019 Board of Directors:
Douglas Anderson, Tamara Bellisario, James Blaydes, George Collins, Patrick Felvey, Mark Gasick, TJ McCarthy, Jonathan Michie, Barbara Neal, Theodore Neff, John Satter, Susan Ulman, Brian Waibel

ICAP 2019 Legislative Chair:
Richard deVerdier

LA Anderson, our Executive Director, is officially retiring this January, 2020. LA has served and been an integral part of ICAP for 18 years. We wish her much happiness in her retirement years. We will miss her.

We welcome Sarah Walsh. Sarah joined the staff this past June, and upon LA’s retirement will be ICAP’s new Executive Director. Many of you have already met Sarah. We welcome Sarah, and look forward to working with her in the future.

The ICAP Board of Directors meet at the Downtown Chicago office five times during any typical year. The full Board meetings are open to the public. In 2019 public guests included ICAP members, former ICAP Board members, Franklin Law Group attorneys, and representatives from IDFPR. The Board was pleased to welcome at our final 2019 meeting in December, the IDFPR Director of the Division of Real Estate Mario Treto, Jr and members of his Department.

Since 2012, and to represent ICAP Illinois state appraisers, at least one if not more ICAP Directors regularly attend monthly IDFPR’s The Real Estate Appraisal Administration and Disciplinary Boardmeetings. The meetings are typically held on the second Tuesday of each month and are open to the public. ICAP encourages every Illinois appraiser who is able to attend at least one meeting.

The 2019 Illinois Appraisers Update Seminars were held in Springfield, Collinsville, and Lisle. ICAP is thankful to each of the speakers who graciously shared their appraisal experience, knowledge, and expertise, and to our members, approximately 440 in total, who attended the 2019 seminars. Thank you! We look forward to seeing you again in the summer of 2020!

On May 9th ICAP Directors and ICAP Members met in Springfield for ICAPs Annual Capitol Day event. This event provides ICAP members a chance to meet with their respective State senators and representatives. It’s a day to highlight important appraisal related legislation, request support for our positions on appraisal related legislation, and generally reminds the legislators of the importance and value a professional appraiser adds to the marketplace — providing a high level of appraisal professionalism and public trust protection to the consumer. We hope, as an Illinois appraiser and ICAP member, you will consider joining ICAP for the 2020 Capitol Day event.

ICAP’s Job Fair/Networking Event provides a venue whereby new people entering the profession and ICAP members in general have an opportunity to meet Illinois appraisal firms (employers). The event provides both prospective candidates for employers and prospective job opportunities for appraisers seeking work. Secondary, but just as important, is an opportunity to network with other appraiser professionals. The 2019 event’s guest speaker was IDFPR Director Treto.

ICAP has worked considerable long hours related to many of the changes the former Director of Real Estate made to our Illinois Appraiser Act and Administrative Rules. ICAP met with the new Department Secretary Hagan and Director Treto. As a result of our initial meeting, Director Treto issued two policy statements, published May 17, 2019. Policy Statement 2019-001 addressed implementation of CAS (Consent to Administrative Supervision) and Policy Statement 2019-002 clarified credit for continuing education courses taken between July 1, 2019 and September 20, 2019 (a.k.a. the “donut hole”). Additionally, following up to ICAPs concerns, Director Treto proposed amendments to our Rules which will bring the CE completion and license renewal deadlines back into the previously shared common September 30th date of each odd year. The second comment period ends this month. ICAP expects to see this amendment adopted by year end.

In 2019 ICAP drafted the following bills for the Illinois 101st General Assembly:

HB 2960 – Real Estate Appraiser License Bill (225 ILCS 458/5-5). As introduced, it would amend our licensing Act making it unlawful for anyone not having a license to develop a document that reports an opinion of value of real estate or uses the term “appraisal” or “market value.” Opposition to this bill from segments of the legal community has been significant.

HB2962 – Appraisal Management Recovery Fund Bill. (30 ILCS 105/5.891; 225 ILCS 459/55 459/56 459/57 459/65 459.50). Amends the AMC Registration Act to create the AMC recovery fund. It would set a maximum registration fee to be applied to the AMC Recovery Fund, regulate how remaining funds are carried forward each fiscal year, and requires a registrant to maintain a $25,000 bond.

HB2963 – Statute of Limitations/Repose Bill for Illinois Real Estate Appraisers (735 ILCS 5/13-214.5). Amends the Code of Civil Procedure regarding an action based upon tort, contract, or otherwise. A limitations/repose on appraisers while engaged in appraisal practice. Any action shall be commenced within two years from the time the person bringing an action knew or should reasonably have known of the act or commission. In no event shall an action be brought more than five years after the date the act or omission was committed. New provisions would apply to actions commenced on or after the effective date.

HB 2961 – Broker Market Analysis Bill (225 ILCS 454/10-45). The bill amends the language in the Real Estate License Act to read: “This is a broker price opinion/comparative market analysis, not an appraisal of the market value of 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, instead of: “managing broker, not by  a”…. The change in language assists the approximate 800 appraisers holding broker licenses to produce BPOs and CMAs; the statement MUST be included in the report. This passed the House, Senate, was signed into law by the Governor, and became effective July 12, 2019.

In light of President Cullerton’s recent resignation announcement, two ICAP Directors attended a fund raiser for Kimberly Lightford on December 12th.

Lobbyist Shaw DeCremer has been an integral part of our legislative efforts for the past four years. Shaw, on behalf of ICAP we thank you and are grateful for your hard work on our behalf. We wish you much success in your future endeavors.

ICAP participates in The Appraisal Foundation Advisory Council (TAFAC). An ICAP Director attends the TAFAC annual meetings.

ICAP is one of the founding state coalition members of the Network of State Appraiser Organizations (NSAO). Formed approximately six years ago, the original five have now become approximately 31 state coalitions Network affiliated members. ICAP works with the other state coalitions on appraisal related legislative issues and attends the Networks Work Group, held this year in Washington, DC.  In 2019 ICAP joined with these 30 other state coalitions in hiring an attorney to address the Appraisal Threshold proposal increasing the appraisal requirement from $250,000 to $400,000. Our request for a public hearing was denied. On August 20th, the FDIC approved a final rule officially raising the appraisal de-minimus threshold from $250,000 up to $400,000 regarding the minimum transaction amount below which an appraisal is not required for federally related residential real estate transactions. The Appraisal Institute and The Appraisal Foundation strongly object to the FDIC ruling.

ICAP joined 17 groups opposing the National Credit Union Administration proposal that would quadruple the appraisal threshold level from $250,000 to $1,000,000 for non-residential real estate transactions. The final rule was effective October 22, 2019.

The NCUA proposes to amend the agency’s regulation requiring appraisals for certain real estate-related transactions. The proposed rule would increase the threshold level below which appraisals would not be required for residential real estate related transactions from $250,000 to $400,000. Consistent with the requirement for other transactions that fall below applicable appraisal thresholds, federally insured credit unions (FICUs) would be required to obtain written estimates of market value of the real estate collateral that is consistent with safe and sound banking practices in lieu of an appraisal. For easier reference, the proposed rule would explicitly incorporate the existing statutory requirement that appraisals be subject to appropriate review for compliance with the Uniform Standards of Appraisal Practice (USPAP).  Comments must be received on or before January 28, 2020.

ICAP is a member of the Association of Appraiser Regulatory Officials (AARO). To represent Illinois appraisers ICAP sends a Director to the AARO Spring and Fall conferences. ICAP during 2018 and 2019 was given the honor to Chair AARO’s Professional Organizations Advisory Council. Coinciding with the Networks Work Group is the AARO Fall Conference, held in Washington DC. In addition to attending the 2019 AARO Fall Conference, while in Washington, DC ICAP also represented Illinois appraisers at the ASB Meeting, the Networks Work Group, and joined with other “Network” state coalition representatives in a meeting with a professional staff member for the Honorable Maxine Waters, Chairwoman of the House Committee on Financial Services. Previously, ICAP met with U.S. Representative for Illinois’s 11th Congressional District, Congressman Bill Foster in July. The meeting centered on H.R. 3619 and H.R. 2852. Congressman Foster serves on the House Committee on Financial Services and the Subcommittee on Housing, Community Development and Insurance which has been “reviewing the appraisal industry.”

ASB – ICAP Directors participated in and encouraged ICAP members to attend both the Third (January 10, 2019) and the highly unusual Fourth (March 14, 2019) Exposure Draft webinars and the live-streamed ASB Kansas City public meeting. Additionally, ICAP urged our membership to consider crafting an individual comment letter to the ASB either in support of or against any of the proposed changes to the 2020-2021 Edition of USPAP.

ICAP continues to monitor for legislation affecting the appraisal profession, threatens appraiser independence and/or the public trust in the appraisal system. ICAP will actively oppose such legislation.         As you can see, ICAP has had a busy year. But— the work is not done, it is only just beginning.

Looking forward to 2020 there are still bills to get passed, and the rewrite of the Illinois Appraiser Act will begin in earnest. ICAP will continue its “mission is 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.”

As we continue to promote and protect the interest of the appraisal profession in Illinois, we need your support. ICAP encourages all members to participate.


If you have not already renewed your 2020 membership, please do so today. And, please consider making a voluntary contribution to the ICAP-PAC Fund which provides necessary resources to ensure we continue to have a strong voice in Springfield. Volunteer to serve on a committee or assist with an event.

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 leave behind 2019, and usher in 2020 with a new ICAP 2020 Board of Directors. The 2020 Board is energized and already working. Additionally, ICAP 2020 is very fortunate to have an outstanding and strong leader in Ron DeVries.

The ICAP 2020 Board of Directors:

Ron DeVries, ICAP 2020 President.

Executive Committee Directors:
Ron DeVries, Herbert Meyer, Patrick Felvey, John Satter, Karen Emerle

Douglas Anderson, Tamara Bellisario, Daniel Berenschot, James Blaydes, George Collins, Richard Knitter, TJ McCarthy, Jonathan Michie, Barbara Neal, Theodore Neff, Gina Reynolds, Susan Ulman, Brian Waibel

In closing, may I extend a heartfelt thank you to all our members! It has been a very special privilege to serve you!

Wishing everyone a healthy and prosperous 2020,

Karen Emerle, SRA
ICAP 2019 President
ICAP 2020 Immediate-Past President
December 30, 2019

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

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 (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:

“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: 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 ( 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:

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:

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.

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”.

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.

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:

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., 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,

AI,Appraisal Institute, 25 plus years supporting ICAP, premier education provider,

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.

Landy InsuranceExpert in cyber security and insurance, New Bodily Injury & Property Damage Policy

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.

Real Estate RevealedAM 560 The Answer,,

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

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