LIEB BLOG

How current events impact your business and real estate holdings

Showing posts with label License Renewal. Show all posts
Showing posts with label License Renewal. Show all posts

Wednesday, December 23, 2020

NYS Proposes Regulations that Require Appraisers to Learn Fair Housing / Anti-Discrimination

On 12/23/2020, the NYS Department of State proposed mandating fair housing education as a condition of license renewal for appraisers and assistant appraisers.  


The proposed regulations would be at 19 NYCRR 1107.2(b), 19 NYCRR 1107.33(a), (b), and (c), and 19 NYCRR 1107.34. 


In substance, the regulations would require that every licensed or certified appraiser complete an approved course of study in Fair Housing and Fair Lending every two years with the following course topics: 

a) 7 Hour Introduction to Fair Housing and Fair Lending Instruction

b) 4 Hour Update on Fair Housing and Fair Lending Instruction


Now, we are in the public comment period until 02/21/2021. To make your comments, email the regulator at david.mossberg@dos.ny.gov


While we are very encouraged by increased fair housing and anti-discrimination trainings being required in NYS, we are concerned with how specific the subtopics of education are and how they offer no explanation as to what exactly the government is looking for within each subtopic. We are also concerned about how this requirement will impact federal government contractor appraisers who must follow Executive Order 13950 on Combating Race and Sex Stereotyping and are therefore restricted on engaging in trainings on unconscious bias or implicit bias to the extent that "it teaches or implies that an individual, by virtue of his or her race, sex, and/or national origin, is racist, sexist, oppressive, or biased, whether consciously or unconsciously," per the US Department of Labor. We hope that these issues will be addressed before this regulation is finalized. 


To the specific subtopic requirements, under topic a), the subtopics are as follows:

(1) Fair housing, fair lending requirements, and the history of lending 2 hours

(a) What is fair housing?

(b) What is fair lending?

(c) Roadblocks to fair housing/lending

(d) Federal laws Civil Rights Act of 1866

Civil Rights Act of 1964 Fair Housing Act of 1968

Supreme Court

The Housing and Community Development Act of 1974

The Fair Housing Amendment Act of 1988

Other legislation

- Community Reinvestment Act

- Equal Credit Opportunity Act

- Home Mortgage Disclosure Act

- Real Estate Settlement Procedures Act American Disabilities Act

(ADA)

(e) New York State Law - Executive Law includes the Civil Rights

Law of the State (NY Human Rights Law - Article 15)

- Additional protected classes; age and marital status

- Includes residential property, land commercial property and credit

transactions

(f) Local Regulations

(g) Exemptions and Exceptions

- Senior Citizen Housing

- Drug users and alcohol abusers

- Two family exemption

(h) USPAP/FIRREA

(i) Enforcement and Duties

-U.S. Department of Justice

-Department of Housing and Urban Development (HUD)

-New York State Department of State, Division of Licensing

-New York State Division of Human Rights

-Administrative Law Judges

-Federal and State Courts

-Responsibilities of individual appraisers

(j) Penalties New York State Federal Government

(2) Development of appraisal (Standard 1 USPAP) 1.5 hours

(a) Bias and discrimination in the analysis in development

(b) Documentation of sources

(c) Secondary market guidelines Fannie Mae, Freddie Mac, HUD,

VA

(3) Reporting of appraisal results (Standard 2 USAP) 1.5 hour

(a) Bias and discrimination in the report

(b) Documentation of sources

(c) Secondary market guidelines Fannie Mae, Freddie Mac, HUD,

VA

(4) Case studies 2 hours

(a) Neighborhood issues

(b) Improvement issues

(c) External obsolescence

(d) Conscious and Unconscious bias


Under topic b), the subtopics are as follows:

(1) Fair housing, fair lending requirements, and the history of lending 1 hour

(a) What is fair housing?

(b) What is fair lending?

(c) Roadblocks to fair housing/lending

(d) Federal laws Civil Rights Act of 1866

Civil Rights Act of 1964 Fair Housing Act of 1968

Supreme Court

The Housing and Community Development Act of 1974

The Fair Housing Amendment Act of 1988

Other legislation

- Community Reinvestment Act

- Equal Credit Opportunity Act

- Home Mortgage Disclosure Act

- Real Estate Settlement Procedures Act American Disabilities Act

(ADA)

(e) New York State Law - Executive Law includes the Civil Rights

Law of the State (NY Human Rights Law - Article 15)

- Additional protected classes; age and marital status

- Includes residential property, land commercial property and credit

transactions

(f) Local Regulations

(g) Exemptions and Exceptions

Senior Citizen Housing

Drug users and alcohol abusers

Two family exemption

(h) USPAP/FIRREA

(i) Enforcement and Duties

-U.S. Department of Justice

-Department of Housing and Urban Development (HUD)

-New York State Department of State, Division of Licensing

-New York State Division of Human Rights

-Administrative Law Judges

-Federal and State Courts

-Responsibilities of individual appraisers

(j) Penalties New York State Federal Government

(2) Development of appraisal (Standard 1 USPAP) 1 hour

(a) Bias and discrimination in the analysis

(b) Documentation of sources

(c) Secondary market guidelines Fannie Mae, Freddie Mac, HUD,

VA

(3) Reporting of appraisal results (Standard 2 USAP) 1 hour

(a) Bias and discrimination in the report

(b) Documentation of sources

(c) Secondary market guidelines Fannie Mae, Freddie Mac, HUD,

VA

(4) Case studies 1 hour

(a) Neighborhood issues

(b) Improvement issues

(c) External obsolescence

(d) Conscious and Unconscious bias


 




Friday, March 27, 2020

Real Estate Brokerage / Salesperson License Renewal Extended

By way of Executive Order 202.11, licensees "time to renew a license" has been extended "to the 30th day following the expiration of this Executive Order."

This Executive Order expires on April 26, 2020 and as such renewal is extended to May 26, 2020 for real estate brokers and salespersons.




Wednesday, January 15, 2020

Real Estate Brokers - Guess the Pass Rate on the Salesperson Exam from 9/17/19 to 12/16/19

Tuesday, November 12, 2019

What RE Brokers that were previously exempt from CE need to know about the new CE requirements

NY Real Estate Brokers and Salespersons that were previously exempt from Continuing Education will no longer be exempt and will need to have completed the full CE requirements, including the new subjects prior to submitting a renewal on or after 7/1/2021.

They can begin taking continuing education 2 years prior to the expiration date of their current license. Keep in mind that only those submitting a renewal on or after 7/1/21 must meet the new requirements.

For example: A licensee with a current license renewal date of 9/1/19 to 8/31/21 would need to complete the education, and the courses would have to be completed in the 2 years immediately preceding the renewal (after 9/1/19 and before submitting the renewal). Any licensee who submits the renewal prior to 7/1/21 may claim the exemption one last time. 

NOW, all licensees must receive 22.5 hours of continuing education every 2 years to stay licensed. The 22.5 hours must include:
  • 3 hours on fair housing &/or discrimination
  • 2.5 hours on ethical business practices
  • 1 hour on recent legal matters governing the practice of real estate brokers and salespersons in New York, which may include statutes, laws, regulations, rules, codes, Department of State Opinions and Decisions, and Court Decisions 
  • 1 hour on the law of agency (2 hours in the initial 2-year cycle)
Lieb School has you covered! We are in the process of revamping our continuing education packages to comply with the new laws! 


Monday, June 03, 2019

Real Estate Brokerage Regulatory Updates - 5/31/19 NYS Board Of Real Estate Meeting Summary

On 5/31/19 the NYS Board of Real Estate continued its mission of optimizing the regulation of real estate brokers in our state by holding its meeting in NYC, Rochester and Albany. To remind real estate brokers and salespersons, the public is welcome at these meetings where the public can bring comments from the floor. It's encouraged that Lieb School students attend these meetings to have your voices heard. 

"[T]he Board has general authority to promulgate rules and regulations affecting real estate brokers and salespersons in order to administer and effectuate the purposes of Article 12-A of the Real Property Law."

A complete video of the meeting is available here.

In summary, the following was discussed:
  1. Complaints: From 1/1/19 to 4/30/19, the Department of State received 241 complaints about licensees. For perspective, there are 134,964 licensees in New York State.
  2. Testing: In 2018, of the 27,209 individuals who sat for the salesperson exam, 14,172 passed, which is roughly a 52% pass rate; of the 2,215 individuals who sat for the brokers exam, 1,447 passed, which is a 55% pass rate.
  3. Regulations: The Board is considered updating advertising regulations as to web based advertising where lead generation will be specifically addressed. Additionally, corporate titles was raised as a concern and a committee was assigned to study the issue. The simple solution stated was increased enforcement. 
  4. Discrimination: Lawful source of income was discussed and the Department, while working with the Division of Human Rights, is hopefully going to issue guidance. 
Remember, to take Lieb School's online classes to stay ahead of your profession.