19 NYCRR § 1107.2

Additions are underlined
Deletions are [bracketed]

19 NYCRR § 1107.2. is amended as follows:

Section 1107.2. Individual continuing education requirements

(a)For State license and certification periods that commence on or after January 1, 2000, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete 28 hours of approved continuing education, every two years including the seven-hour National USPAP update course, or its equivalent, as prescribed by section 1107.9 of this Part, in order to renew their licenses or certifications.

(b) Effective January 1, 2022, every licensed or certified appraiser, within the requirements of subdivision (a) of this section, must successfully complete a course of study in Fair Housing and Fair Lending, or its equivalent, as prescribed by sections 1107.33 and 1107.34 of this Part, in order to renew a license or certification.

New Section 1107.33 is added to Title 19 of the NYCRR as follows:

1107.33. Mandatory Continuing Education in Fair Housing and Fair Lending

(a) For State license and certification periods that commence on or after January 1, 2022, real estate appraisers and real estate appraiser assistants who hold State licenses or certifications must successfully complete an approved course of study in Fair Housing and Fair Lending, every two years, or its equivalent, as required in subdivisions (b) or (c) of this section, in order to renew their licenses or certifications.

(b) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.

(c) Any person holding a real estate appraisal license or certification that prior to January 1, 2022 has not completed an approved course of study in Fair Housing, Fair Lending and Environmental Issues (RE-2) or (GE-1), pursuant to sections 1103.9(b) or 1103.11(a) of this part, or its equivalent, may renew a license or registration by completing a course of study in Fair Housing and Fair Lending pursuant to subdivision (a) of section 1107.34 of this part. Any real estate appraiser or real estate appraiser assistant seeking to renew a subsequent renewal, after satisfying the requirements of this subdivision, may thereafter renew such license or certification by completing a course of study in Fair Housing and Fair Lending pursuant to either subdivision (a) or (b) of section 1107.34 of this part.

New Section 1107.34 is added to Title 19 of the NYCRR as follows:

1107.34 Continuing Education in Fair Housing and Fair Lending Course Outline

The following are the required subjects to be included in the courses of study and the required number of hours to be devoted to Fair Housing and Fair Lending courses. All appraisal schools must utilize the following course outline in conducting their programs. The following course outline is not intended to substitute for specific outlines for the proposed course.

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

 

(b) 4 Hour Update to Fair Housing and Fair Lending Instruction
(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 USPAP)                                      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