Earlier this year the ASC, (Appraisal Sub Committee), ordered all states to comply with their Policy Statement 10: The Scope of State Agency Enforcement Programs. This statement requires every state to perform a work product review on every licensee issued a Certified Residential or Certified General license since January 1, 2005. Download ASC Policy Statement Paragraph 10G.pdf (39.3K)
T.J. McCarthy of the Illinois Coalition of Appraisal Professionals (ICAP) said: "Needless to say, this is a huge task for the IL Appraisal Division of the Department of Professional Regulation."
In an effort to facilitate the process for people upgrading before the January 1, 2008 AQB licensing criteria change, the state of IL will only be auditing work product on new applications for certified licenses from now until December 31, 2007.
Illinois will begin the process of reviewing the work product for all licensees issued a Certified Residential or Certified General license from January 2005 through August 2007 after the first of the year.
Illinois began sending out audit letters on new applications in early August. The audit letter directs the applicant to send in copies of three appraisals selected by the state of IL from their experience log.
T.J. McCarthy (ICAP) offers these tips:
- Send in a complete copy of the report including all addenda.
- The reports need to have a signed certification page.
- DO NOT attempt to make changes to the reports in an effort to clean them up. It has to be a true copy.
- Respond to the state within the requested two week time frame.
- DO NOT send in your workfile.
- The appraisals have to meet USPAP reporting requirements and be compliant with Illinois Appraisal Law and the Administrative Rules.
Based on the audit, the state will either;
- approve your application, defer your application pending additional clarification of the work product submitted,
- defer your application pending review of additional work product selected from your log by the state, or
- deny your application for non compliance.
The IL Board is working on policies and parameters for an applicant to reapply to the state if their initial application is denied based on non compliance of the applicants work product. In the meantime, Brian Weaver has posted a Q & A on the ILDPR website to help answer many of the questions appraisers have been asking regarding the audit.
You can read the Illinois Q & A here: The Illinois Appraisal Experience Audit
Click here for the complete ASC document: Letter to All States Transmitting ASC Policy Statement Amendment re Experience Validation and USPAP Compliance, Comment Summary, and Policy Statement 10 G 08.13.07
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