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Arizona Supervisory Appraiser - Trainee Appraiser Seminar

Arizona Supervisory Appraiser - Trainee Appraiser Seminar. 4 Hours CE September 6 , 2013 Phoenix, AZ. Before We Begin… Thank-you!. Arizona Board of Appraisal – Board Members Kevin R. Yeanoplos , Chairperson B. Michael Petrus II, Vice Chairperson Erik Clinite James B. Heaslet.

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Arizona Supervisory Appraiser - Trainee Appraiser Seminar

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  1. ArizonaSupervisory Appraiser - Trainee AppraiserSeminar 4 Hours CE September 6, 2013Phoenix, AZ

  2. Before We Begin… Thank-you! • Arizona Board of Appraisal – Board Members • Kevin R. Yeanoplos, Chairperson • B. Michael Petrus II, Vice Chairperson • Erik Clinite • James B. Heaslet. • Mark Keller • Joe T. Stroud • Frank Ugenti • Jeff Nolan AZ Supervisory Appraiser / Trainee Appraiser Course

  3. Before We Begin… Thank-you! • Arizona Board of Appraisal • Debra Rudd, Executive Director • and staff AZ Supervisory Appraiser / Trainee Appraiser Course

  4. Why Are You Here Today? AZ Supervisory Appraiser / Trainee Appraiser Course

  5. Why Are You Here Today? • To satisfy my continuing education requirements • Because I want to be here • To hopefully learn something to improve my appraisal practice • I have no idea why I’m really here AZ Supervisory Appraiser / Trainee Appraiser Course

  6. Question: Q: How long have you been active in appraisal practice? • Less than 5 years • 5 to 10 years • 11 to 15 years • 16 to 20 years • Greater than 20 years AZ Supervisory Appraiser / Trainee Appraiser Course

  7. Announcements • Break times and lunch • Restroom locations • Smoking areas • Telephones • Be considerate of those near you • Please silence your cell phone • Attendance sheet • Certificate and evaluation forms AZ Supervisory Appraiser / Trainee Appraiser Course

  8. AZ Supervisory Appraiser / Trainee Appraiser Course

  9. Supervisory Appraiser Objectives • Specifically, that the student understands: • AQB minimum qualifications for becoming and remaining a Supervisory Appraiser • Jurisdictional requirements for both the Supervisor and the Trainee Appraisers • Expectations and Responsibilities of being a Supervisory Appraiser AZ Supervisory Appraiser / Trainee Appraiser Course

  10. Supervisory Appraiser Objectives • Specifically, that the student understands: (continued) • Responsibilities and requirements of a Supervisory Appraiser in maintaining and signing all appropriate Trainee Appraiser experience logs • Expectations and responsibilities of the Trainee Appraiser AZ Supervisory Appraiser / Trainee Appraiser Course

  11. Trainee Appraiser Objectives • Specifically, that the student understands: • AQB minimum qualifications for becoming a Trainee Appraiser • Jurisdictional requirements for the Trainee Appraiser that may exceed those of the Criteria • AQB minimum qualifications for becoming and remaining a Supervisory Appraiser AZ Supervisory Appraiser / Trainee Appraiser Course

  12. Trainee Appraiser Objectives • Specifically, that the student understands: (continued) • Processes and roles of the entities involve in establishing qualifications for credentialed appraisers • Expectations and responsibilities of the Trainee Appraiser AZ Supervisory Appraiser / Trainee Appraiser Course

  13. Trainee Appraiser Objectives • Specifically, that the student understands: (continued) • Qualifications to become a credentialed appraiser • Basics of USPAP • Responsibilities and requirements of a Trainee Appraiser’s role in maintaining and signing all appropriate Trainee Appraiser experience logs AZ Supervisory Appraiser / Trainee Appraiser Course

  14. Qualification and Credentialing Entities

  15. Qualification and Credentialing Entities • History • Direct result of the financial institution crisis of the 1980s • Individuals forming value opinions for loans were not regulated by the states or the federal government AZ Supervisory Appraiser / Trainee Appraiser Course

  16. Qualification and Credentialing Entities • History (cont’d) • Congress passed legislation in 1989 (FIRREA); mandated the regulation of real estate appraisers by the states for federally-related transactions • Only real property appraisers are regulated AZ Supervisory Appraiser / Trainee Appraiser Course

  17. Qualification and Credentialing Entities • The Key Players • Federal Government: The Appraisal Sub-Committee (ASC) oversees the program to ensure it remains consistent with the original intent of Congress. • State Governments: Established regulatory agencies to issue credentials and perform disciplinary actions. AZ Supervisory Appraiser / Trainee Appraiser Course

  18. Qualification and Credentialing Entities • The Key Players • Private Sector: The Appraisal Foundation (TAF) provides Standards of Professional Appraisal Practice (ASB) and Appraiser Qualification Requirements (AQB). • Private Sector: Professional Appraisal Organizations (National, State, Local) AZ Supervisory Appraiser / Trainee Appraiser Course

  19. The Appraisal Subcommittee • The Appraisal Subcommittee (ASC) has a supervisory role over state boards and appraisers, to ensure that the government has sufficient controls in place over all real estate appraisal activity for federally-regulated banks to protect them from loss • FIRREA established the ASC within the Federal Financial Institutions Examination Council (FFIEC) AZ Supervisory Appraiser / Trainee Appraiser Course

  20. The Appraisal Subcommittee • The ASC has six members: • Board of Governors of the Federal Reserve System (FRB) • Office of the Comptroller of the Currency (OCC) • Federal Housing Finance Agency (FHFA) • Federal Deposit Insurance Corporation (FDIC) • National Credit Union Administration (NCUA) • Consumer Financial Protection Bureau (CFPB) AZ Supervisory Appraiser / Trainee Appraiser Course

  21. The Appraisal Subcommittee • The ASC has authority from Title XI of FIRREA to monitor TAF actions, including AQB and ASB • Title XI authorizes the ASC to oversee the activities of state appraisal licensure and certification agencies AZ Supervisory Appraiser / Trainee Appraiser Course

  22. The Appraisal Subcommittee • ASC operations are funded by state-certified or licensed appraisers through their license renewal payment in the form of a National Registry fee. • The ASC manages grants to The Appraisal Foundation that support real-property-related work of the AQB and the ASB. AZ Supervisory Appraiser / Trainee Appraiser Course

  23. State Appraisal Licensure & Certification Agencies • The AQB and ASB are responsible for establishing minimum criteria and standards for practice for real property appraisers • The state appraiser regulatory agencies have complete authority for enforcement AZ Supervisory Appraiser / Trainee Appraiser Course

  24. State Appraisal Licensure & Certification Agencies • States are independent of each other; therefore, it is important that an appraiser understand the specific states’ licensure and certification laws and regulations AZ Supervisory Appraiser / Trainee Appraiser Course

  25. State Appraisal Licensure & Certification Agencies • State Appraiser Regulatory Agencies • Typically governed by a board of 5-9 individuals • Generally appointed by the governor of the state • Public members (non-appraisers) are often also appointed AZ Supervisory Appraiser / Trainee Appraiser Course

  26. State Appraisal Licensure & Certification Agencies • State Appraiser Regulatory Agency Responsibilities • Validate qualifications • Issue credentials • Investigate complaints • Perform disciplinary actions AZ Supervisory Appraiser / Trainee Appraiser Course

  27. The Appraisal Foundation • The Structure of The Appraisal Foundation (TAF) • Not a government agency (private non-profit) • Not an appraisal organization • No members • Given specific authority by Congress regarding appraisal qualifications and appraisal standards AZ Supervisory Appraiser / Trainee Appraiser Course

  28. The Appraisal Foundation • The Appraiser Qualifications Board • Establishes minimum criteria for licensing and certification of qualified appraisers • Defines, issues and promotes criteria • Disseminates Criteria • Creates and maintains the National Appraisal Examination AZ Supervisory Appraiser / Trainee Appraiser Course

  29. The Appraisal Foundation • The Appraisal Standards Board • Performs all functions of TAF with respect to USPAP • Exercises all authority and power over USPAP and other communications related to Standards • USPAP establishes standards of professional appraisal practice for the guidance and education of appraisers and users of appraisals AZ Supervisory Appraiser / Trainee Appraiser Course

  30. Qualifications for Appraiser Credentials

  31. Qualifications for Appraiser Credentials The RPAQC can be downloaded at: AppraisalFoundation.org http://appraisalfoundation.org AZ Supervisory Appraiser / Trainee Appraiser Course

  32. Qualifications for Appraiser Credentials • On December 9, 2011, the AQB adopted changes to the Real Property Appraiser Qualification Criteria that will become effective January 1, 2015. These changes represent minimum national requirements that each state must implement no later than January 1, 2015. AZ Supervisory Appraiser / Trainee Appraiser Course

  33. Qualifications for CredentialsOverview of 2015 Changes • National Uniform Licensing and Certification Examinations • Education and experience must be completed prior to taking the AQB-approved National Uniform Licensing and Certification Examination. AZ Supervisory Appraiser / Trainee Appraiser Course

  34. Qualifications for CredentialsOverview of 2015 Changes • Background Checks • All candidates for a real property appraiser credential must undergo background screening. • State appraiser regulatory agencies are strongly encouraged to perform background checks on existing credential holders as well. AZ Supervisory Appraiser / Trainee Appraiser Course

  35. Qualifications for CredentialsOverview of 2015 Changes • College Degree Acceptance and Core Curriculum Requirements • Credit towards qualifying education requirements may be obtained via the completion of a degree program in Real Estate from an accredited degree-granting college or university provided the college or university has had its curriculum reviewed and approved by the AQB. AZ Supervisory Appraiser / Trainee Appraiser Course

  36. Qualifications for CredentialsOverview of 2015 Changes • Restriction on Continuing Education Course Offerings • Aside from complying with the requirements to complete the 7-Hour National USPAP Update Course (or its AQB approved equivalent), appraisers may not receive credit for completion of the same continuing education course offering within an appraiser’s continuing education cycle. AZ Supervisory Appraiser / Trainee Appraiser Course

  37. Qualifications for CredentialsOverview of 2015 Changes • Distance Education Requirements • A written, proctored examination is required for all qualifying education distance course offerings. The term written refers to an examination that might be written on paper or administered electronically on a computer workstation or other device. AZ Supervisory Appraiser / Trainee Appraiser Course

  38. Qualifications for CredentialsOverview of 2015 Changes AZ Supervisory Appraiser / Trainee Appraiser Course

  39. Qualifications for CredentialsOverview of 2015 Changes • State-certified Supervisory Appraiser shall be in good standing with the training jurisdiction and not subject to any disciplinary action within the last three (3) years that affects the Supervisory Appraiser’s legal ability to engage in appraisal practice. Shall have been state certified for a minimum of three (3) years prior to being eligible to become a Supervisory Appraiser. AZ Supervisory Appraiser / Trainee Appraiser Course

  40. Qualifications for CredentialsOverview of 2015 Changes • A Supervisory Appraiser may not supervise more than three Trainee Appraisers at one time, unless a state program in the licensing jurisdiction provides to progress monitoring, supervising certified appraiser qualifications, and supervision oversight requirements for Supervisory Appraisers. AZ Supervisory Appraiser / Trainee Appraiser Course

  41. Qualifications for CredentialsOverview of 2015 Changes • All qualifying education must be completed within the five (5) year period prior to the date of submission of an application for a Trainee Appraiser credential. • A Trainee Appraiser is permitted to have more than one Supervisory Appraiser. AZ Supervisory Appraiser / Trainee Appraiser Course

  42. Qualifications for CredentialsOverview of 2015 Changes • Both the Trainee Appraiser and Supervisory Appraiser shall be required to complete a Supervisor/Trainee course that, at a minimum, complies with the specifications for course content established by the AQB. AZ Supervisory Appraiser / Trainee Appraiser Course

  43. Qualifications for CredentialsOverview of 2015 Changes • The Supervisor/Trainee course must be completed by the Trainee Appraiser prior to obtaining a Trainee Appraiser credential, and completed by the Supervisory Appraiser prior to supervising a Trainee Appraiser. AZ Supervisory Appraiser / Trainee Appraiser Course

  44. Qualifications for Credentials2015 Criteria for ALL Classifications • Appraisers in all classifications shall perform and practice in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). • All credential holders must comply with ongoing requirements for continuing education, and state renewal procedures. AZ Supervisory Appraiser / Trainee Appraiser Course

  45. Qualifications for Credentials2015 Criteria for ALL Classifications • For Qualifying Education (QE) • Class hours may be obtained only where: • the minimum length of the educational offering is at least 15 hours; and • the individual successfully completes a proctored, closed-book final examination pertinent to that educational offering. AZ Supervisory Appraiser / Trainee Appraiser Course

  46. Qualifications for Credentials2015 Criteria for ALL Classifications • For Continuing Education (CE) • Appraisers must successfully complete the 7-Hour National USPAP Update Course, or its AQB-approved equivalent, every two calendar years. AZ Supervisory Appraiser / Trainee Appraiser Course

  47. Qualifications for Credentials2015 Criteria for ALL Classifications • For Continuing Education (CE) • Aside from complying with the requirements to complete the 7-Hour National USPAP Update Course, or its equivalent, appraisers may not receive credit for completion of the same continuing education course offering within an appraiser’s continuing education cycle. AZ Supervisory Appraiser / Trainee Appraiser Course

  48. Qualifications for Credentials2015 Criteria for ALL Classifications • For Continuing Education (CE) • Credit towards the continuing education hour requirements for each appraiser classification may be granted only where the length of the educational offering is at least two (2) hours. AZ Supervisory Appraiser / Trainee Appraiser Course

  49. Qualifications for Credentials2015 Criteria for ALL Classifications • For Continuing Education (CE) • The equivalent of fourteen class hours of instruction in courses or seminars for each year during the period preceding the renewal is required (e.g., a two-year continuing education cycle would require twenty-eight hours). The class hour requirement can be fulfilled at any time during the cycle. AZ Supervisory Appraiser / Trainee Appraiser Course

  50. Qualifications for Credentials2015 Criteria for ALL Classifications • A new applicant not currently licensed or certified and in good standing in another jurisdiction, shall have up to 24 months, after approval by the state, to take and pass an AQB-approved qualifying examination for the credential. Successful completion of the examination is valid for a period of 24 months. AZ Supervisory Appraiser / Trainee Appraiser Course

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