PUBLIC SESSION OF TUESDAY, JANUARY 13, 2009
MINUTES
The regular meeting of the Board of Real Estate Appraisers was held at 124 Halsey Street on the 3RD Floor on Tuesday, JANUARY 13, 2008. The meeting was convened in accordance with the provisions of the Open Public Meeting Act. Board President Mrs. Randolph-Sharpe, called the meeting to order at 9:30 A.M. A roll call was taken and the following attendance was recorded for these minutes:
John A. McCann Excused
Denise Siegel Present
Barry J. Krauser Present
Frank A. Willis Present
Stephen P. Giocondo Present
Cheryl A. Randolph-Sharpe Present
Eileen M. Mannion, Esq. Excused
Also, present were: Dr. James S. Hsu, Executive Director; Susan Carboni, Deputy Attorney General; Emilio Aviles, staff; Charles Kirk, staff and Grace Gurisic, staff.
APPROVAL OF MINUTES OF TUESDAY, DECEMBER 9, 2008
Following review and discussion and upon motion of Mr. Giocondo, seconded by Mr. Willis it was determined that the minutes of December 9, 2008 be approved . A vote was taken and the motion was carried unanimously.
DIRECTOR’S REPORT
Executive Director, Dr. James S. Hsu made the following announcements:
*** There were three Investigative Inquiries scheduled for this meeting.
*** Board Member Mannion and McCann were excused for this meeting.
*** Prior to adjoining for Lunch the Board presented a framed Resolution to the family of the late Robert H. Scrivens, Jr.
*** Congratulations to Board Member Denise Siegel on her appointment to represent our Board on the Supreme Court Committee on the Tax Court for the committee’s 2008-2010 term which is effective immediately through August 31, 2010.
*** Congratulations to Board Member Eileen Mannion who has been named Vice President for Verizon State Government Affairs
CONTINUING EDUCATION
| Provider | Course | Recommendation | |
| Philadelphia Metro Chapter Of the Appraisal Inst. | (1) Office Building Valuation: A Contemporary Perspective (2) AI-100 Summary Report - Res. (3) Convincing Residential Appraisals | 7 Hrs. Of C.E. 3.5 Hrs. Of C.E. 4 Hrs. Of C.E. | |
| Appraisal Education Network School | (1) FHA & VA Basics (2) Intro & Commercial Appraisal (3) Supervising Appraisal Trainees (4) Mortgage Fraud - A Dangerous Business (5) Sales Comparison Approach (6) Income Approach (7) Cost Approach (Residential) (8) 7 Hour USPAP Update | 7 Hrs. Of C.E. 3.5 Hrs Of C.E. 3.5 Hrs. Of C.E. 7 Hrs. Of C.E. 7 Hrs. Of C.E. 7 Hrs. Of C.E. 7 Hrs. Of C.E. 7 Hrs. Of C.E. | |
| Westchester County Society Of Real Estate Appraiser’s Inc. | (1) New 2009 Fannie Mae Appraisal Policies Including the Market
Conditions Addendum to the
Appraisal Report (Form 1004MC) (2) Understanding USPAP via Case Studies (3) Valuating the Small Commercial Property (4) Why Size Matter: Calculating Gross Living Area | 3 Hrs. Of C.E. 2 Hrs. Of C.E. 3 Hrs. Of C.E. 3 Hrs. Of C.E. | |
| Appraisal Institute | Introduction to Valuation for Financial Reporting | 7 Hrs. Of C.E. | |
| CLE International | Eminent Domain | 7 Hrs. Of C.E. | |
| Temple University Real Estate Institute | Valuing Distressed Residential Properties | 3.5 Hrs. Of C.E. | |
| Wachovia Appraisal Training | Appraising the High End Home | 8 Hrs. Of C.E. | |
| McKissock | (1) Appraising in a Changing Market (2) Environmental Issues for Appraisers | 7 Hrs. Of C.E. 7 Hrs. Of C.E. | |
| Moshe Cohen | Analyzing and Report Market Conditions | 7 Hrs. Of C.E. | |
| Association of Realtors | (1) 7 Hr. National USPAP Update (2) Flips, Fraud and Foreclosures (3) Foreclosures, Fraud and Neighborhood | 7 Hrs. Of C.E. 3.5 Hrs. Of C.E. 3.5 Hrs. Of C.E. |
Following review and discussion by the Education Committee and the Board and upon motion of Mrs. Siegel, seconded by Mr. Krauser it was determined that the C.E. Courses listed did meet the established criteria for the designated approved hours and that they be approved as noted above. A vote was taken and the motion was carried, unanimously
APPRAISAL INSTITUTE
*** Appraisal News Online Vol. 9, No. 23, December 3, 2008
*** Appraisal News Online Vol. 9, No. 23, December 10, 2008
*** Appraiser News Online Vol. 9, No. 24, December 17, 2008
*** Appraiser News Online Vol. 9, No. 24, December 30, 2008
*** Appraiser News Online, Vol 10; January 7, 2009
The Board reviewed, discussed and duly noted the above items.
APPRAISAL FOUNDATION
*** FOUNDATION NEWS - DECEMBER, 2008
The Board reviewed, discussed and duly noted the above item.
APPRAISAL STANDARDS BOARD
*** Meeting Summary for November 18, 2008
*** Meeting Notice for January 23, 2009
*** USPAP Q and A; Vol. 10, No. 12-December, 2008
*** Memo from Sandra Guifoil, Chair; ASB re: Second Exposure Draft of proposed changes to the 2010-11 Edition of the Uniform Standards of Professional Appraisal Practice, date December 10, 2008
The Board reviewed, discussed and duly noted the above items.
APPRAISER QUALIFICATIONS BOARD
*** Meeting Notice for February 20, 2009
The Board reviewed, discussed and duly noted the above item.
OTHER
*** Memo from Regulatory Analyst, Patti Schiripo advising that the REA amendments in response to the Appraisal Subcommittee regulations will appear in the February 2, 2009 New Jersey Register with a 60 day comment period.
*** E-Mail from the Ohio Board dated December 23rd re: the December 19th guidance on FHA Appraisers
*** E-Mail from the Ohio Board dated December 24th concerning same.
*** E-Mail from Vicki Ledbetter of the Appraisal Subcommittee re: HUD letter regarding Licensed Level Appraisers
*** Several articles re: FannieMae, FHA and Mortgage Fraud issues received from Appraiser Rich Siebel for the Board’s information.
*** Memorandum from Maryland State Board re: Survey of Implementation of AQB Criteria
*** E-Mail from Board Member Siegel re: "Michigan Enacts Strong Appraiser Independence Laws"
*** News Release from State Attorney General Anne Milgram re: Statewide Mortgage Foreclosure Mediation Program"
The Board reviewed, discussed and duly noted the above items.
*** Draft of Letter to Commissioner Doria for Board Review: "Guidelines for the Preparation of a Real Estate Market Analysis for the Transfer of Development Rights"
Following review and discussion by the Board and upon motion of Mrs. Siegel, seconded by Mr. Krauser it was determined that the letter be approved. A vote was taken and the motion was carried, unanimously.
PUBLIC ANNOUNCEMENTS OF DISCIPLINARY ACTION TAKEN
*** IMO --- JEFFREY S. WHITE - Settlement Offer Filed 12-16-08.
*** IMO --- CHARLES E. DAVIES - Settlement Offer Filed 1-9-09.
*** IMO --- MARCIA A. GERMINARIO - Consent Order Filed 1-8-09.
The Board reviewed, discussed and duly noted the above Orders.
*** IMO --- DOUGLAS NICKEL - Revised Final Order of Discipline regarding continuing education
Following review and discussion by the Board and upon motion of Mr. Krauser, seconded by Mr. Willis it was determined that the revised Final Order of Discipline be approved. A vote was taken and the motion was carried, unanimously.
PUBLIC COMMENT
Richard Siebel of the Appraisal Community addressed the Board regarding issues of mutual concern.
ADJOURNMENT
Upon motion of Mr. Krauser, seconded by Mr. Siegel it was determined that the Public Meeting be adjourned at 11 A.M. and the Board proceed to the Executive Session. A vote was taken and the motion carried, unanimously.
Respectfully submitted,
DR. JAMES S. HSU
Executive Director
