Colorado 
Association of Real Estate Appraisers

 

July 16th2014 General Meeting:

Pam discussed ala mode roadshow and confirmed our partnership with alamode’s community appraisr support plan (see prior meeting notes for additional detail).

Jo discussed state supervisory task force.  Class to be solidified within the last quarter of the year will be required by beginning of 2015.

Dora presented this month regarding investigation, licensing overview and processes.  Presenters were Dorothy, Chris Stanley and the enforcement group leader.

(still waiting presentation for details and attachment)

Dorothy –

Biggest issues that come across her desk are audit compliance and experience log verification (filled out incorrectly on the wrong forms and totals do not match work logged).  These sort of items can delay licensing and license upgrades several weeks whereas properly filling them out can really expedite the process.

Chris Stanley –

Took up largest portion of the presentation and discussed, step by step what happens in an investigation, when and how complaints are escalated to complex investigations (critical, high value, evidence of fraud).

Discussed the top 10 items that fail on reports (see FYI section for presentation):

Neighborhood Trend & Analysis

Zoning

HBU

Support and explanations for adjustments

Summary of analysis conducted in reconciliation.

Work Filed & Sources

Income Approach

Cost Approach

Land Valuation

Statements of liability and assistance

Last presentor Penny Elder – leader of enforcement:

Discussed how violations are rated, potential levels of severity and types of punishment from letters of admonition to public censure, fines and revocation.  Age of offense, severity, training, growth as an appraiser and other factors.

Meeting ran long, no items presented after.  Board member involvement was minimal as the greater length of participation was expected.

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