NEW YORK STATE BOARD OF REAL ESTATE APPRAISAL
October 25, 2013
The meeting was held at the Department of State, 99 Washington Avenue, Albany; 123 William Street, NYC; and, 65 Court Street, Buffalo.
I. INTRODUCTIONS, ROLL CALL AND QUORUM ANNOUNCEMENT
S. Roefaro, Chair, called the meeting to order at 10:30 a.m. He took attendance and declared there was a quorum.
The official attendance was as follows:
Stephen Roefaro, Chair
Kathleen McCoy, Director of Licensing
Aiesha Battle, Director, Consumer Protection
Mary Jo Moore
Jenny Tidwell, Appraisal Subcommittee
Kristi Klamet, Appraisal Subcommittee
John Manfred, Manfred Real Estate Learning
Jennifer DeFlorio, regional advisor
William Smolen, appraiser
II. APPROVAL OF MEETING SUMMARY
Chair S. Roefaro asked for a motion to approve the June 10, 2013 meeting summary.
L. Levy made a motion to approve the summary of the June 10, 2013 board meeting. The motion was seconded by C. DiSanto and passed unanimously.
III. SUBCOMMITTEE AND DEPARTMENT REPORTS
V. Cline gave an enforcement update as of mid-October. She shared that 84 complaints have been received so far this year (compared to 119 last year). Of the 84 complaints, 60 are pending in enforcement; 5 are pending with counsel; and, 19 have been closed. Of the 19 closed cases, 11 were closed upon investigation; 2 were closed by counsel; and, 6 were closed for no violation or no jurisdiction. The 84 complaints were received from: 41 from public members (43 last year); 21 from banks/lending institutions (30 last year); 13 from appraisal management companies [AMCs] (26 last year); 3 from other appraisers (6 last year); 3 from government institutions (10 last year); and 3 were state-initiated (4 last year). Currently, there are 91 cases pending: 66 pending in enforcement, and 25 pending with counsel.
C. DiSanto shared that the subcommittee continues research for mandatory licensing, have looked at ten other states laws regarding mandatory licensing, and will continue working on draft legislation. M. Smith pointed out that more and more states are requiring mandatory licensing. S. Roefaro stated that some states are adopting their mandatory licensing legislation in conjunction with their AMC legislation (i.e. Pennsylvania passed AMC legislation to mirror the mandatory licensing legislation). Regarding the AMCs, states will have 36 months to put new regulations into effect once the Appraisal Subcommittee (ASC) sets forth their final regulations. Currently, there is no release date of those regulations by the ASC.
IV. ACTION ITEMS
M. Mastrobuono spoke about the boards desire to obtain continuing education (ce) credits for board members for meetings and subcommittee work. He explained that while the AQB does allow ce credit for attendance at board meetings, there are technicalities which must be met in order to acquire that credit (i.e. meetings must be at least two hours in duration and must be open to all licensees, attendance must be taken, webcasting of meetings may require IDEC approval). He suggested if the board wants to pursue this matter, that a committee be formed to look into this. J. Tidwell stated that this would be cumbersome to put into place.
C. DiSanto made a motion that the board NOT pursue obtaining ce credit for attendance at board meetings and subcommittee work. The motion was seconded by L. Levy and passed unanimously.
S. Roefaro stated that USPAP is included in New York’s regulations and that the 2014-15 edition is ready to be adopted.
C. DiSanto made a motion that the 2014-15 edition of USPAP be adopted. M. Smith seconded the motion and it passed unanimously.
S. Roefaro stated that the legislative/regulatory changes for 2015, required by the ASC, are ready to be adopted.
M. Smith made a motion that the legislative/regulatory changes for 2015 be adopted. L. Levy seconded the motion and it passed unanimously.
V. NEW BUSINESS
M. Smith suggested a vice chair be elected to the board.
L. Levy made a motion to elect C. DiSanto as vice-chair of the board. The motion was seconded by M. Smith and passed unanimously.
VI. PUBLIC COMMENT PERIOD
W. Smolen spoke about the AMC legislation, and stated that he knows of many appraisal management companies that are going out of business because they are not making money. He feels the legislation should be adopted as soon as possible.
VII. FEDERAL APPRAISAL SUBCOMMITTEE REPORT
J. Tidwell gave a summary of the audit conducted by the Appraisal Subcommittee over the past few days.
The meeting was adjourned at 12:05 p.m.