7 How Many Hours of Continuing Education Must an Appraiser Complete
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Will the same states that do this for appraisers also mandate similar Fair Housing and Fair Lending courses for lenders, loan officers, mortgage bankers…
Are you aware that US States are beginning to 'require' appraisers take required courses in how to treat people fairly, by requiring such a class for every license renewal period??
Here's the law from New York state:
19 NYCRR § 1107.2. is amended as follows:
Section 1107.2. Individual continuing education requirements
(a) For State license and certification periods that commence on or after January 1, 2000, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete 28 hours of approved continuing education, every two years including the seven-hour National USPAP update course, or its equivalent, as prescribed by section 1107.9 of this Part, in order to renew their licenses or certifications.
(b) Effective January 1, 2022, every licensed or certified appraiser, within the requirements of subdivision (a) of this section, must successfully complete a course of study in Fair Housing and Fair Lending, or its equivalent, as prescribed by sections 1107.33 and 1107.34 of this Part, in order to renew a license or certification.(This underline is from New York, showing the addition to their law.)
New Section 1107.33 is added to Title 19 of the NYCRR as follows:
1107.33. Mandatory Continuing Education in Fair Housing and Fair Lending
(a) For State license and certification periods that commence on or after January 1, 2022, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete an approved course of study in Fair Housing and Fair Lending, every two years , or its equivalent, as required in subdivisions (b) or (c) of this section, in order to renew their licenses or certifications.
(b) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.
(c) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 has not completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to subdivision (a) of section 1107.34 of this part. Any real estate appraiser or real estate appraiser assistant seeking to renew a subsequent renewal, after satisfying the requirements of this subdivision, may thereafter renew such license or certification by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.
This class in New York state is detailed to be 7 hours in length in another part of their law.
The California state legislature now has a pending bill on this same topic, with the requirement that the class be a minimum of 5 hours every renewal cycle.
Will other states jump on the 'blame/punish' culture bandwagon?? Too soon to know.
Will the same states that do this for appraisers also mandate similar courses for lenders, loan officers, mortgage bankers, purchasers/guarantors of loans, city mayors and council members, state legislators, governors, etc. Probably not, even though many bad practices and discriminatory policies of the past originated with them. Said another way, 'redlining' did not originate with appraisers. Yet 'we' are accused of allowing it to perpetuate.
Appraisers have become the flashpoint and are easily attacked due to their own inability to cohesively join together in ONE proactive organization advocating on our behalf, much like Realtors have done with NAR. They 'get it.' Appraisers don't.
Makes me wonder if more appraisers will finally throw in the towel and find some other way to earn a living, or just retire without renewing their license if able.
I'm not saying that having additional education about this topic is not important. But a separate multi-hour required course EVERY license cycle is overkill. That diminishes other professional education that is necessary and important to enhance an appraiser's experience.
Source: https://appraisersblogs.com/passing-state-laws-mandating-fair-housing-continuing-education-4-appraisers
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