reglab/statecodes huggingface dataset:
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 3.00 - Application, Examination and Registration Procedures › Section 3.03 - Procedures for Receipt of Initial License or Certification

Current through Register 1525, July 5, 2024
(1)
Payment of
			 License/Certificate Fee Required Within Two Years of Examination
			 Date
. Examination results are valid for a period of two years from
			 the date of successful completion of the examination and the
			 license/certificate fee must be paid within that time. Successful candidates
			 shall receive their license or certificate upon payment of the
			 license/certificate fee. Neither a license nor certificate will be issued to
			 any applicant who fails to make timely payment. Failure to make such payment
			 will require the submission of a new application in accordance with
			 264 CMR
			 3.01 and
			 3.02.
(2)
License/Certification
			 Issuance
. Upon completion of all pre-license/certification
			 requirements, a license or certification card shall be issued to each applicant
			 and shall include the individual's license/certificate number. An individual's
			 license/certification and right to practice shall be deemed to commence upon
			 payment of the prescribed fee and issuance of the card.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 3.00 - Application, Examination and Registration Procedures › Section 3.04 - Federal Appraiser Registry

Current through Register 1525, July 5, 2024
The Board shall provide a roster of all non-trainee Licensees
				and the federal portion of each Licensee's fees to the Federal Appraisal
				Subcommittee.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 4.00 - Renewal Procedures and Continuing Education Requirements › Section 4.02 - Renewal After Expiration of License or Certificate

Current through Register 1525, July 5, 2024
(1) As set forth by the Appraisal
			 Subcommittee, a Licensee/certificate holder will be removed from the National
			 Registry upon expiration of the license/certificate.
(2) If a person fails to renew a license or
			 certificate prior to its expiration, but applies for renewal within two years
			 of the expiration date, the license or certificate may be renewed upon payment
			 of the renewal fee and late fee.
(3) If a person fails to renew a license or
			 certificate within two years of its expiration, the license or certificate may
			 be reinstated upon:
(a) payment of the current
			 renewal fee and the late fee;
(b)
			 presentation of evidence satisfactory to the Board that all required continuing
			 education for the last period in which the person was licensed as well as all
			 previous years during which time the license or certificate was inactive has
			 been completed;
(c) submission of a
			 written statement made under the pains and penalties of perjury that:
1. the applicant for reinstatement did not
			 practice or perform the functions of a licensed/certified appraiser in
			 Massachusetts during this period; and
2. details whether or not the applicant for
			 reinstatement practiced as a licensed/certified appraiser in any other
			 jurisdiction during this period;
(d) if the applicant for reinstatement is
			 licensed/certified in another jurisdiction, submission of a letter of license
			 history issued by that jurisdiction will be required;
(e) at the Board's discretion, successful
			 completion of the license/certification examination; and
(f) at the Board's discretion, a personal
			 appearance before the Board.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 4.00 - Renewal Procedures and Continuing Education Requirements › Section 4.03 - Continuing Education Requirement Deferrals

Current through Register 1525, July 5, 2024
(1) Active military personnel, upon returning
			 from active military duty, may petition the Board for a Continuing Education
			 Requirement Deferral (CERD). Upon approval by the Board, the CERD shall be
			 valid for 180 days from the date of issuance and shall not be renewed,
			 extended, or re-issued.
(2) An
			 applicant for a CERD shall petition the Board in writing on forms approved and
			 provided by the Board and shall provide documentation of active duty military
			 status and other documents as the Board shall require demonstrating that active
			 military duty prevented the applicant from completing his or her continuing
			 education requirements.
(3) Upon
			 CERD approval, the applicant shall renew his or her certificate or license
			 under the condition that the requisite continuing education shall be completed
			 and that the license or certificate holder shall only engage in practice as a
			 certified or licensed appraiser for a period not to exceed 180 days. During
			 that 180 day period the license or certificate holder shall complete all
			 applicable continuing education requirements as contained in
			 264 CMR
			 4.01(5).
(4) Where the license or certificate holder
			 who has been granted a CERD fails to complete all of the applicable continuing
			 education requirements as contained in
			 264 CMR
			 4.01(5), within the 180 day
			 CERD deferral period, all practice shall immediately cease and the license or
			 certificate holder shall be subject to disciplinary action up to and possibly
			 including revocation, suspension and fine.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.01 - General Requirements

Current through Register 1525, July 5, 2024
264 CMR 5.01 does not apply to temporary licenses. Criteria for
				such levels of licensure are contained in
				264 CMR 7.00:
Special
				Classification of License/Certificate
.
(1) Each applicant for licensure or
			 certification must:
(a) demonstrate that he or
			 she is of good moral character with a reputation for honesty, trustworthiness,
			 and integrity;
(b) meet the
			 requirements for the level of license or certificate for which he or she is
			 applying; and
(c) successfully
			 undergo any background screening mandated by the AQB in accordance with federal
			 law,
			 12 U.S.C.
			 3345(a).
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.02 - Requirements for Real Estate Appraisal Trainee Licensure

Current through Register 1525, July 5, 2024
Each applicant shall complete 75 classroom hours of primary
				education in real estate appraisal. All courses shall be approved by the Board
				and shall satisfy the education criteria set forth in
				264 CMR 9.00:
Course
				Approval Requirements for Providers of Primary and Continuing
				Education
,
				264 CMR
				5.09, and the Core Curriculum adopted by the
				AQB in accordance with federal law,
				12 U.S.C.
				3345(a). Notwithstanding
				264 CMR
				5.08, all education must be completed within
				five years of the date of application for a real estate appraisal trainee
				license. Applicants must also complete a Board-approved course regarding the
				requirements and responsibilities of trainees and supervisory appraisers that
				meets the criteria of the AQB in accordance with federal law,
				12 U.S.C.
				3345(a).
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.03 - Requirements for State-licensed Real Estate Appraisers

Current through Register 1525, July 5, 2024
Each applicant shall:
(1) Pass the Massachusetts Examination for
			 State-licensed Real Estate Appraisers or an equivalent examination approved by
			 the Board;
(2) Complete 150
			 classroom hours of primary education in real estate appraisal education;
			 and
(3) Submit evidence of the
			 required real estate appraisal experience as described in
			 264 CMR
			 5.06.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.04 - Requirements for State-certified Residential Real Estate Appraisers

Current through Register 1525, July 5, 2024
Each applicant shall:
(1) Pass the Massachusetts Examination for
			 State-certified Real Estate Appraisers or an equivalent examination approved by
			 the Board;
(2) Complete 200
			 classroom hours of primary education in real estate appraisal;
(3) Satisfy at least one of the following
			 five options in 264 CMR 5.04(3)(a) through (e):
(a) Bachelor's Degree in any field of
			 study;
(b) Associate's Degree in a
			 field of study related to:
i. Business
			 Administration;
ii.
			 Accounting;
iii. Finance;
iv. Economics; or
v. Real Estate.
(c) Successful completion of 30 semester
			 hours of college-level courses in each of the following specific topic areas:
1. English Composition (three semester
			 hours);
2. Microeconomics (three
			 semester hours);
3. Macroeconomics
			 (three semester hours);
4. Finance
			 (three semester hours);
5. Algebra,
			 Geometry, or Higher Math (three semester hours);
6. Statistics (three semester
			 hours);
7. Computer Science (three
			 semester hours);
8. Business Law or
			 Real Estate Law (three semester hours); and
9. Two elective courses in any of the above
			 topics, or in Accounting, Geography, Agricultural Economics, Business
			 Management, or Real Estate (three semester hours).
(d) Successful completion of at least 30
			 semester hours of College Level Examination Program® (CLEP®)
			 examinations from the following subject matter areas:
1. College Algebra (three semester
			 hours);
2. College Composition (six
			 semester hours);
3. College
			 Composition Modular (three semester hours);
4. College Mathematics (six semester
			 hours);
5. Principles of
			 Macroeconomics (three semester hours);
6. Principles of Microeconomics (three
			 semester hours);
7. Introductory
			 Business Law (three semester hours);
8. Information Systems (three semester
			 hours); or
(e) Any
			 combination of 264 CMR 5.04(3)(c) and (d) that ensures coverage of all topics
			 and hours identified in 264 CMR 5.04(3)(c).
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.05 - Requirements for State-certified General Real Estate Appraisers

Current through Register 1525, July 5, 2024
Each applicant shall:
(1) Pass the Massachusetts Examination for
			 State-certified General Real Estate Appraisers or an equivalent examination
			 approved by the Board;
(2) Complete
			 300 classroom hours of primary education in real estate appraisal;
(3) Hold a Bachelor's degree or higher from
			 an accredited college or university; and
(4) Submit evidence of the required real
			 estate appraisal experience as described in
			 264 CMR
			 5.06.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.06 - Experience Criteria

Current through Register 1525, July 5, 2024
The following specifications apply to the experience
				requirements for all classifications of licensure and certification:
(1) To meet experience requirements,
			 applicants must demonstrate they have obtained the required amount of
			 experience as described in
			 264 CMR 5.00.
(2) All experience to be utilized for
			 purposes of obtaining a license must have been obtained after January 31, 1989
			 and must be USPAP compliant.
(3)
			 All experience must be earned as an appraisal trainee or appraiser-in-training
			 in compliance with
			 264 CMR 6.00:
Practice
			 of Real Estate Appraisal
.
(4) Amount of work experience required for
			 State-licenses and Certification:
(a)
State-licensed Real Estate Appraiser
. At least 1,000
			 credited hours in no fewer than six months.
(b)
State-certified Residential
			 Real Estate Appraiser
. 1,500 credited hours in no fewer than 12
			 months.
(c)
State-certified General Real Estate Appraiser
. 3,000
			 credited hours in no fewer than 18 months. At least 50% of the experience must
			 be nonresidential appraisal experience.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.07 - Experience Audits

Current through Register 1525, July 5, 2024
(1) The Board or
			 its agents may conduct an audit or request additional documentation to verify
			 an applicant's claimed experience. Applicants may only claim verifiable
			 experience for which they can provide reports or file data upon a request from
			 the Board.
(2) If an applicant
			 fails to appear before the Board for a scheduled audit or otherwise respond to
			 the Board without good cause within six months of such request, the Board may
			 deny an application for licensure. If an application is denied for failure to
			 appear before the Board for a scheduled audit or provide requested
			 documentation or otherwise respond to the Board within six months of such
			 request, a new application must be filed and application fee paid by the
			 applicant.
(3) Notwithstanding the
			 provisions of
			 264 CMR 5.06,
			 appraisal logs required by
			 264 CMR 6.01(1)(c)
			  that include any appraisal reports dated
			 before May 1, 2020 shall not be required to include the itemization of
			 creditable hours described in
			 264 CMR
			 5.06(6), and appraisal logs
			 that include only appraisal reports dated on and after May 1, 2020 shall
			 utilize such itemization for all work recorded in the appraisal log.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.08 - Primary Education Criteria

Current through Register 1525, July 5, 2024
The following specifications apply to the Primary Education
				requirements for all classifications of licensure or certification:
(1) Applicants shall submit official
			 documentation to the Board indicating completion of each course taken to
			 satisfy primary education criteria. It shall be the applicant's responsibility
			 to ensure that the course provider verifies the number of classroom hours, the
			 length of the education offering, and that the applicant successfully completed
			 an appropriate examination for the course.
(2) Credit will only be granted once for
			 courses taken repeatedly.
(3)
			 Experience may not be substituted for education.
(4) Credit toward the classroom hour
			 requirement may be awarded for classroom hours previously credited in an
			 application for a different classification of license or certificate.
(5) Except for a Trainee Applicant as
			 provided in
			 264 CMR
			 5.02, there is no time frame within which
			 Primary Education credit must be obtained.
(6) Primary Education courses must be
			 approved pursuant to
			 264 CMR 9.00:
Course
			 Approval Requirements for Providers of Primary and Continuing
			 Education
prior to the time the applicant completes the
			 course.
(7) All primary education
			 courses must be approved by the Board and satisfy the Education Criteria set
			 forth in
			 264 CMR
			 5.09, and
			 264 CMR 9.00:
Course
			 Approval Requirements for Providers of Primary and Continuing
			 Education
, and the Core Curriculum adopted by the AQB
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 5.00 - Licensure/certification Requirements › Section 5.09 - Required Core Curricula

Current through Register 1525, July 5, 2024
(1)
Appraisal Trainee
.
(a) 30 hours in Basic Appraisal
			 Principles;
(b) 30 hours in Basic
			 Appraisal Procedures; and
(c)
			 15-hour National USPAP or National USPAP Equivalency Course Approved by the AQB
			 and the Board.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 6.00 - Practice of Real Estate Appraisal › Section 6.01 - Scope of Practice

Current through Register 1525, July 5, 2024
(1)
Real Estate Appraisal Trainees
.
(a) An Appraisal Trainee or
			 appraiser-in-training may assist a Supervising Appraiser in the performance of
			 Appraisal Assignments but may only perform such work when under the direct
			 supervision of a Supervising Appraiser if the work is outside of the permitted
			 scope of practice for the credential level held by the license or certificate
			 holder.
(b) The Appraiser Trainee
			 or Appraiser-in-training is permitted to have more than one supervising
			 appraiser.
(c) An appraisal log
			 shall be maintained jointly by the Supervising Appraiser and the Appraisal
			 trainee or Appraiser-in-training and shall, at a minimum, include the following
			 for each appraisal:
1. type of
			 property;
2. date of
			 report;
3. opinion of
			 value
4. Type of report (as defined
			 in USPAP);
5. client name and
			 address;
6. address of appraised
			 property;
7. description of work
			 performed, including a notation as to what work was directly performed by the
			 Appraisal trainee or Appraiser-in-training;
8. scope of supervision provided;
9. number of work hours; and
10. signature and state license number of the
			 Supervising Appraiser.
(d) Appraisal Trainees and
			 Appraisers-in-training shall be jointly responsible with the Supervising
			 Appraiser in maintaining and having required access to work-files.
(e) Appraisal Trainees and
			 Appraisers-in-training must work pursuant to a written contract as described in
			 264 CMR 6.00 in order to
			 obtain a higher level license.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 6.00 - Practice of Real Estate Appraisal › Section 6.02 - Mandatory License Identification

Current through Register 1525, July 5, 2024
(1)
			 Every holder of a license or certificate issued by the Board, including persons
			 holding temporary and trainee licenses, shall place his or her certificate or
			 license number adjacent to or immediately below the title of the license held
			 by the individual when used in an appraisal report, a contract or other
			 appraisal instrument, as mandated by M.G.L. c. 112, § 186. The titles to
			 be used by licensed real estate appraisers shall be written in the following
			 manner:
(a) Massachusetts Certified General
			 Real Estate Appraisal #_________or MA C.G.R.E. Appraiser #________or MA CGREA
			 #___________or MACG #_____________;
(b) Massachusetts Certified Residential Real
			 Estate Appraiser #______or MA C.R.R.E. Appraiser #________or MA CGREA
			 #___________or MACR #_____________;
(c) Massachusetts Licensed Real Estate
			 Appraiser #______or MA L.A.R.E. Appraiser #________or MA SLREA #___________or
			 MASL #_____________;
(d)
			 Massachusetts Trainee Licensed Real Estate Appraiser #______or MA Trainee R.E.
			 Appraiser #________or MA TRREA #___________;
(e) Massachusetts Temporary Real Estate
			 Appraiser, Level (CG, CR, LA), #______or MA Temp. R.E. Appraiser, Level (CG,
			 CR, LA), #_________ or MA TEMPCG #___________or MA TEMPCR #_____________; or MA
			 TEMPLA #___________;
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 6.00 - Practice of Real Estate Appraisal › Section 6.03 - Use of Titles in Firm Advertising

Current through Register 1525, July 5, 2024
(1) The titles listed in
			 264 CMR
			 6.02 may only be used to refer to individuals
			 who hold a current license or certificate.
(2) Pursuant to M.G.L. c. 112, § 187, a
			 firm, partnership, corporation, professional association or group may not be
			 licensed and may not be represented or identified as a licensed or certified
			 real estate appraiser.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 6.00 - Practice of Real Estate Appraisal › Section 6.04 - Records Retention

Current through Register 1525, July 5, 2024
A Licensee shall retain originals or true copies of all written
				contracts engaging his or her services for real property appraisal work, and
				all reports and supporting data assembled and formulated by the appraiser in
				preparing such reports for a period of five years, commencing upon the date
				that the appraisal is submitted to the client. If the appraiser is notified
				within such five year period that the Appraisal Report is involved in
				litigation, the five year period for the retention of records shall commence
				upon the date of the final disposition of such litigation. For purposes of this
				requirement, notification of a Board complaint or adjudicatory action shall be
				deemed litigation. If a conflict exists between 264 CMR 6.04, M.G.L. c. 112,
				§ 193, or USPAP, whichever provision requiring retention of records the
				longest shall govern.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 7.00 - Special Classification Of License/certificate › Section 7.02 - Temporary Registration

Current through Register 1525, July 5, 2024
(1)
Eligibility
. The Board shall recognize on a temporary
			 basis the certificate or license of a real estate appraiser issued by another
			 jurisdiction provided that:
(a) the applicant
			 for temporary registration holds a valid license or certificate in good
			 standing issued by an appraiser regulatory agency which has not been
			 disapproved of by the Federal Appraisal Subcommittee;
(b) the property to be appraised is part of a
			 Federally-related Transaction;
(c)
			 real estate appraiser's business is of a temporary nature;
(d) the appraiser files a properly completed
			 application and appropriate fee with the Board; and
(e) the Federal Registry lists the applicant
			 as conforming to AQB criteria.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 8.00 - Reciprocity For State-licensed/state-certified Real Estate Appraisers › Section 8.01 - Reciprocity/Licensure by Endorsement

Current through Register 1525, July 5, 2024
(1)
			 Appraisal trainees are not eligible for reciprocity.
(2) All reciprocity agreements between
			 Massachusetts and any other state are null and void.
(3) An applicant for a license or certificate
			 who holds a current state license, certified residential license or a certified
			 general license or certificate issued by another state may be eligible for a
			 Massachusetts license or certificate provided that:
(a) The applicant is coming from a state that
			 is currently in compliance with the requirements of the Appraisal Subcommittee
			 per
			 12
			 U.S.C. 3347; and
(b) the licensing or credentialing
			 requirements of that state meet or exceed the requirements for licensure in
			 Massachusetts.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.01 - Course Approval by Board

Current through Register 1525, July 5, 2024
(1) The Board
			 shall review materials submitted by course providers to determine the
			 acceptability of each course for educational credit toward licensure,
			 certification, and continuing education requirements. The Board will evaluate
			 the appropriateness of the course subject matter, the length of the course, the
			 credit hours to be awarded, the examination given in the course, and the
			 qualifications and preparation of the course instructor(s). All courses shall
			 meet the minimum criteria established by the AQB for acceptable education and
			 such other requirements as determined by the Board.
(2) The Board shall identify each course as
			 either Primary Education or Continuing Education. The Board shall designate
			 each Primary and Continuing Education course as Residential, Nonresidential,
			 USPAP, or Elective. The Board shall also assign the number of credit hours to
			 be awarded for each course.
(3) The
			 Board shall not approve examination review courses for credit towards either
			 continuing education or primary education.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.02 - Application for Course Approval

Current through Register 1525, July 5, 2024
(1)
			 Course providers may apply for course approval by filing an application form,
			 accompanied by the appropriate supporting documentation and fee. All materials
			 submitted to the Board in support of an application for course approval shall
			 be retained by the Board.
(2) Each
			 application shall include all of the following information:
(a) A description of the course provider's
			 educational program, including its origination date, location, whether
			 membership in any organization is a prerequisite to course enrollment, and any
			 other relevant background information. A course catalogue shall be included if
			 available;
(b) A copy of course
			 materials, including the course syllabus, references and texts, and other
			 instructional tools;
(c) A copy of
			 the examination given for each course. If because of security concerns an exam
			 cannot be released, a detailed description of the examination, including the
			 number of questions, length of time permitted to complete the exam, whether the
			 exam is open or closed book, and whether a calculator or other resources are
			 permitted or required for the exam, may be substituted. Such a description is
			 subject to verification by the Board;
(d) A copy of the instructor qualification
			 and preparation requirements; and
(e) Such other information as the Board shall
			 request.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.03 - Criteria for Course Approval

Current through Register 1525, July 5, 2024
(1)
			 Each course shall meet the minimum requirements for education mandated by the
			 AQB in accordance with federal law,
			 12 U.S.C.
			 3345(a).
(2) The subject matter of each course shall
			 be real estate appraisal-related.
(3) Membership in any organization or
			 association shall not be prerequisite to enrollment in the course.
(4) For each course a provider must:
(a) take attendance at each class session.
			 Attendance records must be retained by the course provider for five
			 years;
(b) maintain records of each
			 course that include a description of the subject matter, documentation of
			 instructor qualifications, a roster of the names and completion dates for each
			 person completing the course, and a copy of the examination or
			 evaluation;
(c) provide to the
			 Board, upon request, copies of all records for a particular course, within 14
			 days of the request; and
(d) ensure
			 that any primary course offered for credit towards licensure or certification
			 is approved by the Board at the time it is offered.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.04 - Criteria for Instructor Qualification

Current through Register 1525, July 5, 2024
(1) Each course must be taught by a qualified
			 instructor. In order to be qualified, an instructor must have:
(a) two years of experience directly related
			 to the subject matter being taught; or
(b) a baccalaureate or higher degree in a
			 field directly related to the subject matter being taught; or
(c) one year prior experience teaching the
			 subject matter to be taught; and
(d) completed a course audit or co-taught the
			 course to be taught; or
(e) a
			 combination of education and experience equivalent to 264 CMR 9.04(1)(a), (b)
			 or (c).
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.05 - Primary Education

Current through Register 1525, July 5, 2024
(1) Each
			 educational offering shall provide a minimum of 15 classroom hours. Courses
			 from accredited colleges will be credited 15 hours for each academic credit
			 hour.
(a) 50 minutes constitutes one classroom
			 hour.
(b) Credit shall be granted
			 only when an individual successfully completes an examination pertinent to the
			 educational offering.
(c) Courses
			 that include open book examination will not be approved.
(d) Primary education courses shall be in the
			 following areas:
1. influences on real estate
			 value;
2. legal considerations in
			 appraisal;
3. types of
			 value;
4. economic
			 principles;
5. real estate markets
			 and analysis;
6. valuation
			 process;
7. property
			 description;
8. highest and best
			 use analysis;
9. appraisal
			 statistical concepts;
10. sales
			 comparison approach (theory and application);
11. site value;
12. cost approach (theory and
			 application);
13. income approach
			 (theory and application), including:
a. gross
			 rent multiplier analysis,
b.
			 operating expense ratios, and
c.
			 direct capitalization;
14. valuation of partial interests;
15. Uniform Standards of Professional
			 Appraisal Practice; and
16.
			 narrative report writing (certified classifications only).
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.06 - Continuing Education

Current through Register 1525, July 5, 2024
(1) The purpose
			 of continuing education is to ensure that licensed and certified appraisers
			 participate in a program that maintains and increases the appraiser's skill,
			 knowledge and competency in real estate appraising. The Board adopts the AQB
			 guidelines for the contents and requirements for continuing
			 education.
(2) Credit toward the
			 continuing education classroom requirements shall be granted only when the
			 length of the educational offering is at least two hours.
(3) Credit may be granted for educational
			 offerings which are consistent with the purpose of continuing education stated
			 herein and cover real estate appraisal related topics, including but not
			 limited to:
(a)
ad valorem
taxation;
(b)
			 arbitration;
(c) business courses
			 related to practice of real estate appraisal (this topic is limited to ten
			 hours per renewal cycle and is designated elective);
(d) construction estimating;
(e) ethics and standards of professional
			 practice;
(f) land use planning,
			 zoning and taxation;
(g)
			 management, leasing, brokerage, timesharing;
(h) property development;
(i) real estate appraisal
			 (valuations/evaluations);
(j) real
			 estate law;
(k) real estate
			 litigation;
(l) real estate
			 financing and investment;
(m) real
			 estate appraisal related computer applications;
(n) real estate securities and
			 syndication;
(o) real property
			 exchange; and
(p) real estate
			 appraisal topics related to fair housing and lending.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.07 - Distance Education

Current through Register 1525, July 5, 2024
(1) Board
			 Approved Distance Education Courses may be utilized for Continuing Education
			 requirements. In general, Primary Education Courses must be classroom based.
			 Notwithstanding this prohibition, the mandatory course governing the
			 requirements and responsibilities of trainees and supervisory appraisers, as
			 referred to in
			 264 CMR
			 5.02:
Requirements for Real Estate
			 Appraisal Trainee Licensure
and
			 264 CMR
			 6.01(6)(a)8., may be a
			 Distance Education course.
(2) A
			 Distance Education course must comply with AQB requirements for Distance
			 Education and may be approved by the Board only if it meets one of the
			 following criteria:
(a) it is presented to an
			 organized group in an instructional setting with a person present who is
			 qualified and available to answer questions, provide information, and monitor
			 student attendance;
(b) it is
			 offered by an accredited college or university that offers Distance Education
			 programs in other disciplines and the student successfully completes a written
			 examination proctored by an official approved by the presenting college or
			 university consistent with the requirements of the course accreditation; or, if
			 a written examination is not required for accreditation, the student
			 successfully completes the course mechanisms required for accreditation which
			 demonstrate mastery and fluency;
(c) it has received approval from the
			 International Distance Education Certification Center (IDECC), and the student
			 successfully completes a written examination proctored by an official approved
			 by the Course Provider consistent with the requirements of the course
			 accreditation; or, if a written examination is not required for accreditation,
			 the student successfully completes the course mechanisms required for
			 accreditation which demonstrate mastery and fluency;
(d) it has received the approval of an AQB
			 recognized organization that certifies the course design and delivery mechanism
			 and the student successfully completes a written examination proctored by an
			 official approved by the Course Provider consistent with the requirements of
			 the course accreditation; or, if a written examination is not required for
			 accreditation, the student successfully completes the course mechanisms
			 required for accreditation which demonstrate mastery and fluency; or
(e) it is approved as a Distance Education
			 course through the AQB course approval program.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.08 - Uniform Standards of Professional Appraisal Practice (USPAP) Courses

Current through Register 1525, July 5, 2024
(1) USPAP courses
			 must be updated as the AQB establishes new criteria or issues new
			 interpretations.
(2) USPAP courses
			 must always include distribution of the USPAP edition published and interpreted
			 by the ASB.
(3) All USPAP courses
			 must be approved by the Board prior to being offered for credit towards initial
			 licensure/certification or renewal.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.09 - Approved Courses

Current through Register 1525, July 5, 2024
(1) The Board
			 shall publish a list of only those courses that have been approved by the
			 Board.
(2) The Board's list of
			 approved courses shall contain the name of the course provider, the course
			 title, the number of classroom hours for which the course shall be given
			 credit, whether the course is acceptable for Primary Education and/or
			 Continuing Education, and whether the course is designated residential,
			 non-residential, USPAP, or elective.
(3) The Board may add courses to, or delete
			 courses from, the list at its discretion.
(4) Course providers may not revise the
			 title, content, or classroom hours of any course approved by the Board. In the
			 event of such a change, the Provider must submit an application for course
			 approval pursuant to
			 264 CMR
			 9.02.
(5) Members of the Board or its agents may
			 audit courses and require submission of student evaluations to verify the
			 quality of the educational offering.
(6) The Board may withdraw approval of any
			 course at any time and the Board reserves the right, without further review, to
			 withdraw approval of any courses offered by a Provider based on the
			 determination that a single course offered by that Provider does not comply
			 with the course approval criteria under
			 264 CMR 9.00.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 9.00 - Course Approval Requirements for Providers of Primary And Continuing Education › Section 9.10 - Renewal of Course Approval

Current through Register 1525, July 5, 2024
Approved courses shall be reviewed by the Board every two
				years. Course providers shall submit a petition for renewal of course approval
				on a form provided by the Board. The petition must be accompanied by the
				appropriate course approval fee. The Board may approve USPAP update courses for
				periods in excess of two years, however, no such approval shall extend beyond
				December 31st of each odd numbered
				year.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 12.00 - Board Procedures › Section 12.01 - Establishment of Subcommittees

Current through Register 1525, July 5, 2024
The Board may establish subcommittees to perform various
				functions, such as education approval, review of complaints and other matters
				under the Board's jurisdiction.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 12.00 - Board Procedures › Section 12.03 - Non-applicability of USPAP to Board-related Appraisal Reviews

Current through Register 1525, July 5, 2024
Appraisal reviews performed by licensed or certified appraisers
				are exempt from the Uniform Standards of Professional Appraisal Practice
				(USPAP) requirements regarding appraisal reviews when those reviews are
				conducted on behalf of the Board by:
(1) Appraisers who serve on the
			 Board;
(2) Agents, staff, and
			 volunteers working on behalf of the Board; and
(3) Appraisers performing duties for advisory
			 committees created by the Board.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 13.00 - Appraisal Management Companies › Section 13.02 - Registration, Qualifications, and Exemption

Current through Register 1525, July 5, 2024
(1) All appraisal
			 management companies shall register with and be subject to supervision by the
			 Board of Registration of Real Estate Appraisers in compliance with all rules,
			 regulations and orders duly issued and with all registrations, licenses and
			 approvals duly granted by the Board.
Each AMC that operates as a subsidiary of a federally regulated
				financial institution shall provide identifying information, information
				related to ownership, panel size and the number of appraisers used to calculate
				the AMC registry fee, submitted on a form prescribed by the board
(2) In addition, every appraisal
			 management company shall:
(a) Make the
			 certifications required by
			 264
			 CMR 13.02(2)(b) through (f)
			 in original applications for registration, renewal forms and upon request of
			 the Board;
(b) Certify that only
			 persons who hold Massachusetts appraiser licenses or certifications in good
			 standing pursuant to M.G.L. c. 112, §§ 173 through 195 are added to
			 its appraiser panel for appraisal services on real property located in
			 Massachusetts after verifying the status of the appraiser by contacting the
			 Board or utilizing the national AMC registry;
(c) Certify that the AMC requires appraisers
			 completing appraisal services at its request to comply with the Uniform
			 Standards of Professional Appraisal Practice;
(d) Certify that the company periodically
			 reviews the work of all appraisers performing appraisal services for the
			 appraisal management company to confirm that those services are conducted in
			 compliance with the Uniform Standards of Professional Appraisal
			 Practice;
(e) Certify that the
			 company maintains a detailed record of each request for appraisal services that
			 it receives; the name of the appraiser who performs those appraisal services
			 for the appraisal management company; and a complete digital copy of every
			 version of each appraisal report competed by the appraiser; and all information
			 required by
			 264
			 CMR 13.04(3);
(f) Certify that appraisals are conducted
			 independently and are free from inappropriate influence or coercion, and that
			 appraisers are not encouraged in any manner to misstate or misrepresent the
			 value of a subject property and that the company complies with Sections 129E(a)
			 through (i) of the Truth in Lending Act,
			 15 U.S.C.
			 1639e(a) through (i), and
			 regulations thereunder 12
			 CFR 226 and
			 1026; and
(g) Designate one controlling person who
			 shall be the primary point of contact for all communication between the Board
			 and the appraisal management company.
1. The
			 application shall also designate an employee in charge, who may be the same
			 person as the controlling person.
2. The application shall include a signed
			 acceptance of the responsibility of controlling person and employee in
			 charge.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 13.00 - Appraisal Management Companies › Section 13.03 - Application Procedure

Current through Register 1525, July 5, 2024
(1) An appraisal
			 management company must register with the Corporations Division of the
			 Secretary of the Commonwealth before submitting an application for registration
			 with the Board.
(2) An application
			 for registration as an appraisal management company shall be submitted on a
			 form prescribed by the Board and the applicant must certify, under the pains
			 and penalties of perjury, that the information provided in the application is
			 truthful and accurate.
(3) With the
			 application, each applicant shall submit to the Board:
(a) The applicable application and
			 registration fees as determined by the Secretary of Administration and Finance
			 pursuant to M.G.L. c. 7, § 3B, together with the national AMC registry fee
			 calculated as $25 or other amount determined by the federal Appraisal
			 Subcommittee under 12 CFR
			 1102.403, multiplied by the number of
			 appraisers who have performed an appraisal for the AMC in connection with a
			 covered transaction in Massachusetts during the 12 month period preceding the
			 date of the submitted application, and that number of appraisers shall be
			 calculated in accordance with
			 264
			 CMR 13.05(4);
(b) A true and complete copy of the Business
			 Entity Summary for the applicant issued by the Secretary of the Commonwealth,
			 dated not fewer than ten business days prior to the date the application is
			 submitted;
(c) The name and address
			 of the applicant's registered agent located in the Commonwealth;
(d) Irrevocable Uniform Consent to Service of
			 Process;
(e) A surety bond in the
			 amount of $20,000.00 to secure the faithful performance of the company's
			 obligations, in a form prescribed or approved by the Board, to accrue to the
			 Commonwealth for the benefit of a claimant against the appraisal management
			 company;
(f) A completed, signed
			 and notarized Criminal Offender Record Information (CORI) Authorization Form
			 for every person who owns more than 10% or is an officer, controlling person,
			 or employee in charge of the applicant; and
(g) Other information reasonably required by
			 the Board.
Code of Massachusetts Regulations › 264 CMR - BOARD OF REGISTRATION OF REAL ESTATE APPRAISERS › Title 264 CMR 13.00 - Appraisal Management Companies › Section 13.04 - Operational Requirements for Appraisal Management Companies

Current through Register 1525, July 5, 2024
Appraisal management companies shall take action to implement
				in full the certifications made under
				264
				CMR 13.02 to obtain registration, and in
				addition shall do all of the following:
(1) Establish and comply with processes and
			 controls reasonably designed to ensure that the appraisal management company,
			 in engaging an appraiser, selects an appraiser who is independent of the
			 transaction and who has the requisite license, education, expertise and
			 experience necessary to competently complete the appraisal assignment for the
			 particular market and property type;
(2) Establish and comply with processes and
			 controls reasonably designed to ensure that the appraisal management company
			 conducts its appraisal management services in accordance with the requirements
			 of Section 129E(a) through (i) of the Truth in Lending Act,
			 15 U.S.C.
			 1639e(a) through (i), and
			 regulations thereunder 12
			 CFR 226 and
			 1026;
(3) Create all of the following records for
			 each request for appraisal services and preserve such records in accordance
			 with the recordkeeping rule of the Uniform Standards of Professional Appraisal
			 Practice:
(a) Date of receipt of the
			 request;
(b) Name of the person
			 from whom the request was received;
(c) Name of the client for whom the request
			 was made, if different from the name of the person from whom the request was
			 received;
(d) The appraiser or
			 appraisers assigned to perform the requested service;
(e) Date of delivery of the appraisal product
			 to the client;
(f) Client
			 contract;
(g) Engagement letter;
			 and
(h) A complete digital copy of
			 every version of each appraisal report completed by the appraiser;