It counts as CE in Colorado! Our program gets confusing because we have a three year license cycle and are required to have 42 hours of CE every three years which includes two 7 hour USPAP updates.
I have had several appraisers ask if they can take the 7 hour update every year and count 21 hours of USPAP toward their 42 hours of CE. So far the state has not answered this question. My opinion would be yes as there is no list of approved CE courses, classes, or seminars that are approved.
Our local appraisers group (CAREA.net) has been approved for continuing education and we have seminars at each meeting every other month. Our membership can satisfy the 42 hour requirement by attending our meetings and taking a USPAP class. Now the appraiser will need two USPAP 7 hour Update classes.
Our last meeting was Wednesday night and we had people from the state board of appraisers as our speakers. Good meeting...brought us up to speed on education, enforcement, license law, interesting cases. The latest trend is for smaller fines, more education, and more supervision for miscreants.
There is going to be some changes when it comes to supervision. It will be real supervision rather than product review as it has been in the past. If an appraiser is placed under supervision their license will be suspended or reverted to trainee status. They will then be required to work under a supervisory appraiser for a period of time. Could be six months or 20 reports depending on the amount of work the offending appraiser typically does. This will put that appraiser under direct supervision. The appraisal fee split will be determined by the supervisory appraiser. Don't know about anyone else but I won't take on that responsibility for anything less than half the fee...maybe even more depending on the assignment.
The state will also determine who can be a supervisory appraiser and may even have an endorsement on the license for that category. No plans in Colorado to eliminate the license level category.
Most items found deficient by the state investigatory staff.
1. Insufficient work file.
2. Failure to analyze.
3. Using sales that are not comparable thus inflating value.
4. Not qualified to do assignment per license level.
Most complaints coming from other appraisers (reviewers), mortgage lenders, and lastly the general public which included real estate agents. About 85% of complaints are investigated, 15% dismissed (frivolous). Handling around 200 cases a year at this time. Worst cases have involved conservation easements. Now must be done by certified general appraiser who is especially trained for this type assignment.
