Current through Register Vol. 63, No. 9, September 1, 2024
(1) Appraisal
management companies must provide specified training to employees who:
(a) Select appraisers for an appraiser
panel;
(b) Select appraisers to
perform real estate appraisal activity; or
(c) Perform quality control
examinations.
(2) The
specified training must include, but is not limited to the following topics:
(a) ORS
674.220,
674.225,
674.230,
and
674.240;
and
(b) The Uniform Standards of
Professional Appraisal Practice (USPAP). This topic may be broad in scope, but
must at a minimum include the following elements:
(A) Preamble;
(B) Definitions;
(C) Ethics Rule;
(D) Record Keeping Rule;
(E) Competency Rule;
(F) Scope of Work Rule;
(G) Standard 1;
(H) Standard 2;
(I) Standard 3;
(J) Standard 4;
(K) Advisory Opinion 3, Update of a Prior
Appraisal;
(L) Advisory Opinion 21,
USPAP Compliance;
(M) Advisory
Opinion 26, Readdressing (Transferring) a Report to Another Party;
and
(N) Advisory Opinion 27,
Appraising the Same Property for a New Client.
(3) Appraisal management companies shall
provide the specified training to all employees specified in paragraph (1)
above:
(a) By December 31, 2012 for all
appraisal management companies registered with the State of Oregon prior to
July 1, 2012;
(b) Within six months
for all appraisal management companies registering with the State of Oregon
after July 1, 2012;
(c) For any new
employees within six months from the hire date with the appraisal management
company.
(4) Appraisal
management companies must maintain the training records for each employee and
training material, as specified in paragraphs (1) and (2) above, not less than
five years after the date of completion of the training. Employee training
records must include:
(a) The name of the
employee;
(b) Topics
covered;
(c) Date of completion;
and
(d) Method of delivery of
training.
Statutory/Other Authority: ORS
183.355,
ORS
674.305(7),
ORS
674.310 & 2011 OL Ch. 447
Statutes/Other Implemented: ORS
674.310 & 2011 OL Ch. 447
