Hb 5067

[Wayne Tomlinson]

ICAP announced yesterday that HB5067 has passed the House of Representatives.

This is the bill that gives the department more ability to enforce the state appraisal laws.

Three are a lot of holes in it but it will be an improvement above what is now in force.

It provides for second or more repeated violation of state laws can result in charges of a Class 4 Felony.

It still has to pass the Senate.

Illinois has been the only state whose laws make it in non-compliance with federal regualtions. This change should finally end that distinction.

Keep an eye on it.

Wayne Tomlinson

 

[dianajean]

Question, I have read this bill, and seems all well and good, but I'm confused a bit, with the wording of predecessor, pursuant to, etc., I was certified in 2007, does that mean that I am going to have to be downgraded to an appraiser trainee???

 

[Wayne Tomlinson]

Iam not an expert on this, what I am most interested in is the change in the power of the administration to punish some of the scumbags that are in our profession.

Unfortunately, it allows realestate pedlers to do BPOs and CMAs but it cannot for lending. That is presentlywithin the law but has not been persued,at least partially due to the difficulty in prosecuting.

I think that if you are working within your category,and staying with the USPAP you wil be ok.

This bill makes it a class 4 felony for second or more violations. That might make some of the violators think a bit.

We'll see.

Wayne Tomlinson

 

[Wayne Tomlinson]

Well, the Senate just took their pay raise and closed up shop. No new appraisal law. I guess it was too much to ask and/or hope for.

There is a possibility that it could be passed in the fall session.

It is about time that the board is given enough power to actually shut a bad appraiser down, without having to go all the way through a court battle. With the bad appraiser going full blast during all the intervening months.]


Wayne Tomlinson