State Banking / Finance Regulators

[Pamela Crowley (Florida)]

http://www.consumeraction.gov/banking.shtml

New, updated 10/28/2006

 

[Otis Key]

Thanks Pam - had forgotten about that set of links and information.

 

[Webbed Feet]

Ms. Crowley,

We had a list of every States banking and finance regulators appraisers could call to file a complaint against a mortgage broker... where'd it go?

Barry Dayton

 

[Colorado Guy]

The link
http://appraisersforum.com/forum/index.php?showtopic=31204

is not working for me?

 

[Pamela Crowley (Florida)]

New link:

http://www.consumeraction.gov/banking.shtml

Updated 10/28/2006

 

[Colleague]

Have you ever wondered why the requirements to become a mortgage broker are allot easier than to become a State Certified Residential Real Estate Appraiser. Through my research I have found that in order to become a mortgage broker in NC, one must attend an 8 class, pass the class exam, and then pass the state exam. Currently, to become a NC State Certified RE Appraiser, one must take 4 courses (120 hrs), pass 4 course test, pass a state trainee exam, complete 240 pts, and pass the state certified exam. And yet the irony is the emphasis is still placed on the appraiser education & ethics, not mortgage brokerage education & ethics.

 

[Bob Ipock]

Make that FIVE courses....and FIVE exams to become Certified.

R-1, R-2, R-3, 15 Hour USPAP and G-1. Total of 120 hours.

The NCCOB turns down many applications....some of them are quite comical.

http://www.nccob.com/NR/rdonlyres/E4E0F09C-4F76-4CB7-9FF2-8CC210FA3044/0/mlenforcements.pdf

 

[Colleague]

R-3 is USPAP....in 2008 the requirements, test, exams, etc., change. Will then need a College or equivelant degree.

 

[Bob Ipock]

R-3 is NOT currently USPAP. R-3 is a 15 hour Course and the 15 Hour USPAP is a whle different 15 Hour Course.......I teach them both.

 

[Bob Ipock]

Straight off the NCAB website:

Qualifying Education


Schools Approved to Conduct the Residential (R) and General (G) Series and USPAP
(As of August 23, 2006)



R-1 = Introduction to Real Estate Appraisal
R-2 = Valuation Principles and Procedures
R-3 = Applied Residential Property Valuation (15 hours)
USPAP = National USPAP Course (15 hours)
G-1 = Introduction to Income Property Appraisal

G-2 = Advanced Income Capitalization Procedures
G-3 = Applied Income Property Valuation