Wednesday, December 7, 2011

Appraisal Management Companies - Background Checks

In the past week a reporter for my local paper, the St. Petersburg Times, wrote an  article about applicants for real estate licenses with criminal convictions. Marc Puente described how some folks with what appear to be convictions for serious crimes find that is not an impediment to getting a Florida Real Estate License.

As a former member of the Florida Real Estate Appraisal Board (FREAB), I found the article interesting and informative. Although the "character" requirements for real estate licensees and real estate appraisers are similar, on more than one occasion the FREAB denied an applicant the Florida Real Estate Commission found acceptable. After reading the article I took at look at the agenda for the December meeting of the Florida Real Estate Appraisal Board. Their meeting is December 8th and 9th, 2011.

An item on the agenda is labeled "Summary of Applicants". The individuals named fall in to one or both of two categories:
  • Their application disclosed a criminal history record, or disciplinary action against a professional license.
  • Their application did not disclose a criminal history record, but the check of fingerprints by the Florida Department of Law Enforcement and/or the Federal Bureau of Investigation revealed a conviction.
Florida appraiser and appraisal management company applicants are required to disclose any criminal history and actions against any professional license in Florida or any other state.

Do you all find it interesting that of 11 names on the list of Summary of Applicants, 8 are with Appraisal Management Companies?

Knowing that folks with dubious backgrounds have started Appraisal Management Companies, and that a well known AMC recently folded and left a reported $3,000,000 in unpaid appraisal invoices, I expect the members of the FREAB will give these folks the scrutiny the law demands

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