Modifying provisions relating to the certification of real estate appraisers and making penalties applicable

The bill modifies the definition of “review appraiser” by providing that a “review appraiser” is a person who is responsible for conducting an appraisal review, but does not include a person who performs quality control. Current law provides that the term “certified real estate appraiser” shall only refer to individuals who hold a certificate pursuant to Code chapter 543D. The bill provides that such term, as well as “associate real estate appraiser” and any other like title or term, including a title or term that suggests an individual is licensed or certified under the laws of another state, shall only refer to individuals who hold a certificate or registration under Code chapter 543D, as applicable, or who are exercising a valid practice privilege pursuant to the bill. The bill authorizes a person whose principal place of business is not in Iowa to perform appraisal assignments on real estate located in Iowa without certification under Code chapter 543D or notice to the board, under the following conditions: the person must hold a valid, unexpired license or certificate in good standing in another state that is substantially equivalent to a certificate issued in Iowa, as provided by rules, and such person must be licensed or certified to lawfully perform in the person’s principal place of business all appraisal services offered or rendered under a practice privilege in Iowa; the person must not hold a lapsed Iowa certificate, have been subject to discipline or denial of licensure or certification in any jurisdiction, have previously surrendered or otherwise held an Iowa certificate that is no longer valid, or have been convicted of a crime which is substantially related to the functions of a person performing appraisal assignments; the person shall comply with Code chapter 543D and any board rules, including uniform appraisal standards adopted by the board; the person shall not use the title or term “Iowa certified real estate appraiser” or any other like title or term, but may use the title or term “certified real estate appraiser” to the extent that the person also identifies the state of the person’s principal place of business in connection with such use; and the person, upon request from a client or prospective client, shall provide accurate information regarding licensure or certification status. The bill provides that, as a condition for exercising a practice privilege, a person shall consent to the regulatory authority of the board, appoint the regulatory body of the issuing state as the agent upon whom process may be served in any action or proceeding by the board, and agree to supply the board upon request and without subpoena any information or records as licensees are similarly required to provide to the board under Code chapter 543D. The bill provides that the practice privilege is temporary and shall cease if the license or certificate in the person’s principal place of business expires, is no longer valid or in good standing, or otherwise no longer lawfully supports the conditions of the practice privilege described in the bill.21, issue an order for compliance, or take any other action as provided in Code chapter 543D if a person acting or purporting to act under a practice privilege violates Code chapter 543D or any board rules. The board may also refer a complaint to any applicable state regulatory body. The bill provides that a violation of Code chapter 543D or board rules, including any uniform appraisal standards adopted by the board, by a person acting or purporting to act under a practice privilege, is grounds to deny such person’s subsequent application for certification under Code chapter 543D.