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January 2016 Newsletter
7-Hour USPAP Update
Each appraiser is required to take the 7-Hour USPAP update on a two-year cycle. In Oklahoma it is an odd-year, even year, cycle. This requirement is unrelated to your three-year continuing education requirement, although you will receive continuing education credit for the USPAP update and it will count towards your 42 hour total.
The current cycle is January 1, 2015 to December 31, 2016 and relates to the 2016-2017 USPAP. Regardless of when you last took the 7-Hour USPAP Update, you must complete this course no later than December 31, 2016. You MUST submit proof of completion, in the form of a course completion certificate, no later than close of business on December 31, 2016. If you do not take the course timely, or you take the course and do not submit your certificate, you risk being fined or suspended. Do not rely on the education provider to submit your certificate. It is the appraiser’s responsibility to submit the course completion certificate for this course.
The schedule of currently offered, live, USPAP update courses can be found here.
Appraisal Standards Board adopts revisions for the 2016-2017 edition of USPAP
The Appraisal Foundation has released the pass rate for licensed and certified credentials for the year 2014.
OID issues its 2014 Annual Report
Dodd-Frank Financial Reform Bill (HR-4173)
Interagency Appraisal and Evaluation Guidelines
The Joint Final Rule for Minimum Requirements for Appraisal Management Companies pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act has been adopted.
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Contact the Oklahoma Real Estate Appraiser Board:
Oklahoma Real Estate Appraiser Board
5 Corporate Plaza
3625 NW 56th, Suite 100
Oklahoma City, OK 73112
Telephone: (405) 521-6636
Fax: (405) 522-6909