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Update from Shane Lanham

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Go to the source - Colorado

News Release - Revocation of Both A Colorado Appraiser License and Colorado Controlling Appraiser License | Division of Real Estate

Colorado Board of Real Estate Appraisers Enters Into A Stipulation and Final Agency Order Revoking Both A Colorado Appraiser License and Colorado Controlling Appraiser License
dre.colorado.gov dre.colorado.gov

The Colorado Board of Real Estate Appraisers (“BOREA”) directed the Division of Real Estate (the “Division”), part of the Department of Regulatory Agencies (“DORA”), to conduct an investigation in response to a complaint received by the Division. After the investigation, the Division found substantial evidence of license law violations.​
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In part, the investigation revealed that the licensee ran an appraisal firm that improperly retained the services of unlicensed individuals located outside of the United States to complete appraisal assignments and then affixed the signatures of credentialled appraisers to the reports, often without their knowledge. This business model was not only misleading to the clients, but also to his credentialled appraisers on staff.​
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In a second complaint investigation, Mykhailyna, conducted substantially similar violations of license law, notably, by failing to supervise both licensed and unlicensed assistants and by submitting, and aiding and abetting the submission of appraisals that contained signatures from appraisers who did not author the appraisals. ​
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Mykhailyna was ordered to immediately surrender the above referenced licenses and was assessed a total fine of ninety-seven thousand five hundred dollars ($97,500.00) which includes a fine and additional fee. BOREA agrees that the surrender of his licenses shall be treated as revocations under Colorado law.​
 
I wonder what is wrong with the Board in New Jersey. If they haven't rescinded this guy's license there, then they are asleep at the switch. This is the problem with the vast appraiser regulatory apparatus...it is useless unless you are trying to play by the rules.
 
TerryRohrer said:
I wonder what is wrong with the Board in New Jersey. If they haven't rescinded this guy's license there, then they are asleep at the switch. This is the problem with the vast appraiser regulatory apparatus...it is useless unless you are trying to play by the rules.
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It is probably a problem with all boards. There was a local appraiser in my area who got clipped by Oregon and had three ASC posted demerits, moved to Hawaii, and wears a clean shirt.
 
Elliott said:
It is probably a problem with all boards. There was a local appraiser in my area who got clipped by Oregon and had three ASC posted demerits, moved to Hawaii, and wears a clean shirt.
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Not a bit different than Bernie Madoff being on the Board of SIFMA. Appraiser Madoff's are on the TAF Board of Trustees, which spawned Jim Park, who collected a huge salary to sit in the offices of the ASC for 16 years doing nothing.
 
gregb said:
How many are appraisers?

Board of Trustees

www.appraisalfoundation.org www.appraisalfoundation.org
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They don't reveal that information. But, last time I saw anyone commenting on it, the ASB was heavily populated with personal property appraisers, even though only real property appraisers are actually subject to any type of regulation. I'm guessing AMC and appraiser mill employees (and CrapLogic) dominate TAF board spots.
 
TerryRohrer said:
I wonder what is wrong with the Board in New Jersey. If they haven't rescinded this guy's license there, then they are asleep at the switch. This is the problem with the vast appraiser regulatory apparatus...it is useless unless you are trying to play by the rules.
Click to expand...
One of my former tasks was managing out of state hits on persons licensed in my state. It’s a process, not an event, as the licensee has rights. Also, what’s a violation in one state may not be in another. It all needs to be looked at. That said, these are not difficult cases to process as the other state has done all the work. It’s just not automatic.
 
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