Administrative Regulatory Hearing for 201 KAR 30:375 - MEETING POSTPONED DATE WILL BE POSTED WHEN THE BOARD RECEIVES THE NOTICE
KREAB 2012 Seminars will be offered in Bowling Green, Louisville,
Lexington and Florence.
Northern KY Registration (Florence)
Online Registration Form (Louisville and Lexington)
PDF Registration Form (Louisville and Lexington)
AMC REGISTRATION IN KENTUCKY
On July 15, 2011 Kentucky Governor Steven L. Beshear signed a Statement of Emergency for
administrative regulations 201 KAR 30:310 to collect the AMC Company registration fee, 30:320 require
the surety bond for AMC company registration, and 30:330 complete the AMC company registration form.
The Executive Order grants the Kentucky Real Estate Appraisers Board only the authority referenced
above, for purposes of beginning the registration of Appraisal Management Companies desiring to do business
within the Commonwealth of Kentucky.
All regulations, including those referenced above, must be presented to the Legislative Research Commission
for review, and there must be a hearing before final approval is binding.
The three administrative regulations does grant the Board the authority to immediately begin accepting registration,
collect the fee of $3,500, and require acknowledgement of a surety bond secured by each company in the
amount of $500,000.
Registration will require the completion of each of the attached forms, and the forms with payment must be
completed and returned to the Kentucky Real Estate Appraisers Board office at the address identified on each form.
Although the statute requires renewal prior to October 1, registration from July 18, 2011 through
September 30, 2012 shall not require renewal prior to October 1, 2012.
If anyone has questions, please contact:
Larry Disney
Executive Director
Kentucky Real Estate Appraisers Board
Phone – 859-623-1658
Email – larry.disney@ky.gov
FORMS: AMC Application, Surety Bond & Fingerprint Instructions - Revised December 2011
Kentucky Licensed AMC Companies Revised 1/6/2012
AMC Company - KY Name and Registration #
A-1 Closing Services, LTD - #45
ACT Appraisal, Inc. - #42
Allstate Appraisal, L.P. - #43
Appraisal Management Services LLC - #40
Broad Street Valuations, Inc. - #7
C2C Appraisal Services, LLC - #5
Class Appraisal Inc. - #29
Clear Capital.com, Inc. - #38
DartAppraisal.com, Inc. - #21
DataQuick Lending Solutions, Inc. - #26
Elliott & Company Appraisers, Inc. - #41
Equifax Settlement Services - #20
FT Valuation Services - #19
Financial Asset Services, Inc. - #39
Finiti, LLC - #23
First American Mortgage Services - #28
Frisco Lender Services, LLC - #22
iMortgage Services, LLC - #4
ISGN Solutions, Inc. - #44
Kirchmeyer & Associates, Inc. - #13
Landsafe Appraisal Services, Inc. - #15
LenderVend, LLC - #30
Lincoln Appraisal & Settlement Services, LLC #25
LSI Appraisal, LLC - #14
Midwest Appraisal Management Group, Inc. - #31
National Real Estate Information Services - #32
Nations Valuation Services, Inc. - #6
Nationwide Appraisal Network, LLC - #33
Novo Appraisal Management Corporation - #46
Old Republic Diversified Services - #12
PCV Murcor - #8
Powerlink Valuations, LLC - #1
Pro-Teck Services Ltd. - #34
Rels Valuation - #16
Residential RealEstate Review, Inc. - #9
Select Business Services - #2
ServiceLink - #3
Solidifi US Inc. - #47
Speedy Title & Appraisal Review Services, LLC - #35
Springhouse, LLC - #17
StreetLinks - #11
Title Source/TSI Appraisal - #37
United Lender Services Corp. - #27
United States Appraisals, LLC - #36
Urban Lending Solutions Appraisals, LLC - #18
Valocity, LLC - #24
Valuation Management Group, LLC - #10
INFORMATION ON LICENSING
Q & A - How to Become An Appraiser 2008 Criteria
Application for License/Certification
Approved Education 2011-2012
NATIONAL USPAP UPDATE INFORMATION
Important Information regarding the 7 hour National USPAP Update course required completion date.
REVISED LANGUAGE IN 201 KAR 30:030
The revised language within regulation 201 KAR 30:030 requires all Kentucky Licensed/Certified Appraisers shall complete the
7-Hour National USPAP Course, or its equivalent approved by the AQB, between January 1st and June 30th of each even number year
(example 2010, 2012, 2014, etc.).
The language shall allow Kentucky Licensed and Certified Appraisers to receive credit for the AQB approved 7-Hour
National USPAP Update Course if the course is completed prior to January 1 of an even numbered year and provided
the course includes the USPAP Update material that will be effective January 1 of the even numbered year following
the course completion date.
The revised rule shall apply to “all” Kentucky certified and licensed appraisers, 1) regardless of when a credential was first
received, 2) regardless of whether the certificate holder is a Kentucky resident, 3) whether the credential was received by
reciprocity from another State, or 4) regardless of when a Kentucky credential holder last completed the 15-hour USPAP
Course or the 7-Hour USPAP Update Course.*
*Question - Will continuing education credit be awarded for completion of the current 7-Hour Update Course that included the 2008-2009
USPAP, if the completion date was after June 30, 2009, but before the 2010-2011 revised course is available?
Answer – Yes. The above course will be recognized for 7 of the 14 hours of required KREAB continuing education. But, a Kentucky
licensed or certified appraiser who completed the course must also complete the 7-Hour Update that will include the
2010-2011 USPAP revisions prior to June 30, 2010.
Therefore, a Kentucky licensed or certified appraiser can be awarded 14 hours of Kentucky continuing education for successfully
completing the two USPAP courses listed above during the 2009-2010 renewal period.
Board Office Information
Kentucky Real Estate Appraisers Board
135 W. Irvine Street, Suite 301
Richmond, KY 40475
Phone: (859) 623-1658
Fax: (859) 623-2598
Website: www.kreab.ky.gov
Email addresses:
Larry.Disney@ky.gov
Angie.Thomas@ky.gov
Ravon.Radmard@ky.gov
BOARD MEETING
Upcoming Meeting
Date: February 23, 2012 - 1:00 p.m. CST
Location:
Fern Valley Hotel & Conference Center,
Louisville, KY
Future Meeting Dates
March 22, 2012
April 27, 2012
May 25, 2012
June 22, 2012
July 27, 2012
August 24, 2012
September 28, 2012
October 26, 2012
November 16, 2012
December 21, 2012
**Any information requesting to be reviewed at the KREAB Board meetings must be
submitted to the Board seven (7) days prior to the meetings.**
Open Meeting Policy
(PDF Format - 7 KB)
*Meeting dates are subject to change
AMC Advisory
At the May 22, 2009 Board meeting, the KREAB voted to approve the attached advisory. Kentucky licensed and certified appraisers
should become familiar with the advisory when and if an appraisal fee is collected for appraisal assignments that require the appraiser
to keep a part of the fee and submit the remainder to a third party.
Please review the advisory and contact the KREAB office if there are questions or concerns.
Appraisal Fee Receipt
Appraisal Fee Receipt Attached is a sample receipt format for use when accepting payment directly from borrower.(Retype on letterhead,
or some other identifying heading.)
Appraisal Fee Receipt (PDF Format - 10KB)
Freddie Mac
Freddie Mac released the attached memorandum on November 15, 2007. The memorandum Bulletin includes advice for "appraiser
responsibilities when performing an appraisal." Appraisers should pay particular attention to the advice on providing a "description"
of the prevalence and impact of financing assistance.
Also, there is advice provided for "seller responsibilities for appraisals." Note the term "seller" in this memorandum identifies the individual
or group who sells mortgages to Freddie Mac, not the property seller. The advisory is clear and concise in explaining that Freddie Mac
"holds the Seller accountable for the quality, integrity and accuracy of the appraisal."
Please take time to download and read this very important bulletin. If you have questions or need additional information please contact Larry
Disney at the following:
Standard for Single-Family Residential Buildings (ANSI-Z765) Became A Requirement for All Kentucky Licensed/Certified Appraisers.
Order your copy of ANSI Z765 online direct from the NAHB Research Center or by calling 800-638-8556.
Pursuant to 201 KAR 30:030, all Associate Real Property Appraisers licensed after July 1, 2001 shall submit to the board two (2)
complete summary appraisal reports. Per Appraisal Subcommittee Policy Statement 10 revision, the Board shall immediate require all
applicant submit a log of work experience. From that log the Board staff will select appraisal reports for each level of experience review.
The reports selected from the log will be reviewed to verify minimum USPAP compliance and use of acceptable appraisal practices,
methods and techniques. Any deficiencies will be noted so future appraisals will be compliant. If it is believed necessary to establish the
competency of the associate, the board shall request additional reports from the log for review.
Board Members
Harold G. Brantley, Chair
Appraiser Member
Term Expiration: November 19, 2012
Sam E. Blackburn, Vice Chair
Banking Member
Term Expiration: November 12, 2011
Kathy J. Mayfield
Consumer Member
Term Expiration: November 19, 2013
G. Herbert Pritchett
Appraiser Member
Term Expiration: November 12, 2011
Dorsey Hall
Banking Member
Term Expiration: November 19, 2013
Staff
Larry Disney, Executive Director
Larry.Disney@ky.gov
Angie Thomas, Staff Assistant
Angie.Thomas@ky.gov
Ravon Radmard, Executive Secretary
Ravon.Radmard@ky.gov
James Grawe, Legal Counsel