Rocky Mountain



                    Official Publication of the Colorado Division of Real Estate,
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Rocky Mountain Real Estate News / Fall 2007                                                                   Page 2


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Rocky Mountain Real Estate News / Fall 2007                                                            Page 4



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Rocky Mountain Real Estate News / Fall 2007                                                              Page 5

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Rocky Mountain Real Estate News / Fall 2007                                                                               ...
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Rocky Mountain Real Estate News

  1. 1. Rocky Mountain Official Publication of the Colorado Division of Real Estate, a division of the Department of Regulatory Agencies (DORA) The Honorable Bill Ritter, Jr., Governor D. Rico Munn, Executive Director Erin Toll, Division Director Issue 184, Fall 2007 Director’s Corner November 2007 Inside this issue: Definition of “symmetry”: “A relationship of characteristic correspondence, Duties re: Properties that equivalence, or identity among constituents of a system or between different are “Meth Labs” 2 systems …4. Beauty resulting from balanced or harmonious arrangement.” Mortgage Broker Program One of my goals for the Division of Real Legislative Update 3 Estate is to promote greater symmetry among Update re: Real Estate the real estate broker, mortgage broker, and Commission-Approved Forms 4 appraiser regulatory programs. A successful real estate transaction is contingent on the Division Builds Affordable efforts of real estate brokers, mortgage brokers, Housing and Nails Consumer and appraisers. Knowledge of each real estate Fraud 4 service providers’ roles and responsibilities is crucial for any individual provider to ensure License Renewal excellent customer service. To enhance sym- Requirements and Tips 6-7 metry, this quarter you will notice our new Continuing Education publication combines real estate news relevant for Renewal 8 to all real estate professionals and consumers, rather than separating the news for real estate brokers, appraisers, and mortgage brokers. Appraiser Licensure Changes 9 You can expect to see other iterations of the symmetry theme throughout the Division of Real Estate. For example, increasingly, the Disciplinary Actions – Division receives complaints concerning one licensee, who may be a Appraisers 9 real estate broker, when the transaction actually involves not only the Disciplinary Actions – real estate broker, but mortgage brokers and appraisers as well. This is Real Estate Brokers 11 especially true where mortgage fraud is involved. Rather than performing three separate investigations for each licensee, we are exploring ways to (continued on page 5) Real Estate Commission Meetings Board of Real Estate Appraisers Meetings • December 4 • December 7 • January 8 • January 11 The meetings will be held at our new location of 1560 Broadway, on the 9th floor. All meetings will begin at 9:00 a.m. Before each meeting, check the Division’s website at www.dora.state.co.us/real- estate/Meetings/meetings.htm to confirm the meeting date and location.
  2. 2. Rocky Mountain Real Estate News / Fall 2007 Page 2 THE HONORABLE Think Twice Before Showing, BILL RITTER, Jr. Governor of Colorado Renting, or Selling That Property D. Rico Munn by Marcia Waters Executive Director Department of Regulatory Agencies With the growing incidence of methamphetamine manufacture Erin Toll Director in residential properties, there is a substantial concern regarding Division of Real Estate the impacts on renters’ and purchasers’ health and safety. As a real estate broker, you are not only tasked with disclosing whether a REAL ESTATE COMMISSIONERS property has been previously used as a methamphetamine labora- Charles P. (Buzz) Moore Chairperson, Grand Junction tory, but also whether it has been remediated. Kristin Bronson Pursuant to §25-18.5-103, C.R.S., when a property owner has Commissioner, Denver received notification from a peace officer that chemicals, equipment, Paul Goldenbogen or supplies indicative of an illegal drug laboratory are located on a Commissioner, Colorado Springs property, or when an illegal drug laboratory used to manufacture Martin Pocs Commissioner, Denver methamphetamine is otherwise discovered and the property owner James M. Sullivan has received notice, the property owner must either: Commissioner, Denver (1) remediate the property to the standards established by the State Board of Health in the Department of Public Health BOARD OF REAL ESTATE APPRAISERS and Environment; or Thomas Fellows Chair, Colorado Springs (2) elect to have the property demolished. Karen Tool If the owner elects to demolish the property, the governing body Vice Chair, Ft. Collins for that jurisdiction (or if none has been designated, the health David Kelly Board Member, Littleton department, building department, or law enforcement agency with Michael Morton jurisdiction over the property) may require that the owner fence off Board Member, Centennial the property or make it inaccessible to persons for occupancy or Anthony Navarro intrusion. Board Member, Denver For the property owner who has not remediated or demolished Keren Prior Board Member, Pagosa Springs the contaminated property, the owner is not permitted to allow a Zachary Urban person to have access to the structure pursuant to §25-18.5-105, Board Member, Wheat Ridge C.R.S. This statute directly impacts a real estate broker’s ability to conduct business. When a seller or landlord discloses to a broker ROCKY MOUNTAIN REAL ESTATE NEWS that a property has been previously used as an illegal drug labora- Colorado Division of Real Estate 1560 Broadway, Suite 925 tory, the broker needs to start questioning whether the property has Denver, CO 80202 been remediated or if the seller/landlord plans to remediate. If the Phone: (303) 894-2166 property hasn’t been remediated, potential buyers or renters cannot V/TDD (800) 659-2656 access that property. That also means that you as a broker cannot www.dora.state.co.us/real-estate access the property. This is also a concern for real estate appraisers Member, The Association of Real Estate who are hired to appraise an unremediated property because the License Law Officials (ARELLO) appraiser cannot have access either. The Colorado Real Estate POLICY Commission recently received public complaints about real estate Neither all nor any portion of the articles brokers who showed unremediated “meth labs” to potential buyers. published herein shall be reproduced in any other publication unless specific reference is The most disturbing of these complaints involves the allegation that made to their original publication in the a real estate broker allowed access to and showed an unremediated Rocky Mountain Real Estate News. “meth lab” to a pregnant buyer. The investigation into these com- plaints is ongoing and the Commission is currently focusing on educating brokers regarding the access issues. However, future complaints of this nature may result in disciplinary action against licensees for unworthiness and incompetency.
  3. 3. Rocky Mountain Real Estate News / Fall 2007 Page 3 Mortgage Broker Program Legislative Update – November 2007 by Cary Whitaker On June 1, 2007, Governor Bill Ritter Jr. signed The new laws allow Erin Toll, the Director of the four mortgage broker bills into law. These new bills Division of Real Estate, to take disciplinary actions include House Bill 07-1322, Senate Bill 07-085, against mortgage brokers when these prohibitions are Senate Bill 07-216 and Senate Bill 07-203. Three of violated. Disciplinary action includes denial, suspen- these four bills were effective as of June 2007. Senate sion, and revocation of a mortgage broker registration Bill 07-203 becomes effective January 1, 2008. The or license. The Director may also levy fines not to new bills establish professional standards and define exceed $1,000 per violation in the first administrative prohibited conduct for mortgage brokers. Effectively, proceeding. In subsequent proceedings, the Director this new legislation has taken Colorado’s mortgage may fine mortgage brokers no less than $1,000 and no broker program from a bare bones registration pro- more than $2,000 per violation. Additionally, the gram to one with some of the most robust regulatory Director may order the mortgage broker to pay resti- oversight in the nation. tution. This includes interest, reasonable attorney fees, and costs related to any court proceeding that The new bills have had a significant impact on the occurs to recover a financial loss. If a mortgage bro- registration and licensing of mortgage brokers. ker’s license has been revoked, the Director is prohib- Effective June 1, 2007, House Bill 07-1322 repealed ited from granting the individual a license until resti- the registration exemption for partners, members, offi- tution has been paid in full. cers, contractors, exclusive agents and employees of FHA-approved companies. This impacted 24,000 The new mortgage broker bills also require mortgage brokers who were previously exempt from mortgage brokers to have a duty of good faith and fair registration. Senate Bill 07-203, effective January 1, dealing in all communications and transactions with a 2008, changes the regulatory framework for mortgage borrower. This includes the duty to make a reasonable brokers from registration to licensing. Additionally, inquiry into a borrower’s current and prospective Senate Bill 07-203 requires pre-licensing education, a income, existing debts and other obligations. After pre-licensing examination, continuing education and making such inquiry, mortgage brokers are required to errors and omissions insurance. To date, the Division recommend, broker, or originate a residential mort- of Real Estate has registered 8,900 mortgage brokers. gage loan that takes into consideration the informa- tion submitted by the borrower. As a result, mortgage The statutory additions prohibit unscrupulous brokers must not recommend or induce the borrower conduct for mortgage brokers. In summary, mortgage to enter into a transaction that does not have a rea- broker prohibitions include, but are not limited to: sonable, tangible net benefit. Additionally, mortgage • Directly or indirectly compensating, coercing, or brokers must disclose to borrowers the many provi- intimidating an appraiser for the purpose of influ- sions identified in section 12-61-914, C.R.S. encing the independent judgment of the appraiser Disclosures include the financing terms, third-party with respect to the value of a dwelling; fees and costs, mortgage broker compensation, and lock-in agreements. • Engaging in any unfair or deceptive practice towards any person; The Director is currently implementing several • Obtaining property by fraud or misrepresentation; additions to Colorado mortgage broker laws. In doing so, the Director adopted an emergency rule on June 1, • Negligently making any false statement or know- 2007 that effectively granted individuals who were ingly and willfully making any omission of material previously exempt or whose fingerprints were unclas- fact in connection with any report filed by a sifiable by the Colorado Bureau of Investigation an mortgage broker or in connection with any inves- immediate and automatic registration valid through tigation conducted by the Division; and September 1, 2007. The temporary registration • Failing to pay a third-party provider no later than allowed mortgage brokers 90 days to submit their fin- 30 days after the recording of the loan closing doc- gerprints, acquire the $25,000 surety bond, complete uments or 90 days after completion of the third- the online application, and pay the required $200 party service. application fee. Upon doing so, mortgage brokers will (continued on page 5)
  4. 4. Rocky Mountain Real Estate News / Fall 2007 Page 4 It’s That Time of Year Again… NEW FORMS Every fall, the Real Estate Commission updates the Commis- sion-approved forms. This year, the following forms have been updated or added: • Agreement to Amend/Extend Contract • Source of Water Addendum to Contract to Buy and Sell Real Estate • Seller’s Property Disclosure (All Types of Properties) Division Builds Affordable Housing • Foreclosure Property and Nails Consumer Fraud Addendum to Contract to Buy By Carlotta Knox and Sell Real Estate The Division of Real Estate Volunteers • Earnest Money Receipt with Habitat for Humanity • Counterproposal Colorado has one of the highest rates of foreclosure and mortgage • Contract to Buy and Sell Real fraud in the country. On June 1, 2007, Governor Bill Ritter addressed Estate (All Types of Properties) these issues by signing into law a comprehensive package of senate bills with Closing Instructions designed to combat Colorado’s wave of foreclosures and mortgage fraud epidemic. For the first time in history, Colorado consumers will have • Closing Instructions recourse through their government against unscrupulous mortgage • Inspection Notice brokers. Colorado is the second-to-last state in the nation to enact laws that oversee mortgage broker practices. • Licensee Buy-Out Addendum To promote consumer awareness, the Division of Real Estate staff to Contract to Buy and Sell helped Habitat for Humanity, a nonprofit organization, build three Real Estate affordable homes in Aurora, Colorado. Habitat for Humanity’s mission is to provide affordable housing, which ultimately results in stability, The forms are currently posted pride, health and security for new homeowners. Like Habitat for to the Divison of Real Estate Humanity, the Division of Real Estate also supports the American website. Usage of these forms will dream of homeownership by preserving public peace, health, and safety become mandatory on January 1, for homeowners. 2008. Accordingly, Commission The Division of Real Estate welcomes you to visit its website to view Rules F-7 Commission Approved relevant information, including the new mortgage broker laws, at Forms and F-1 Permitted and http://www.dora.state.co.us/real-estate/mortgage/legislation.htm. Prohibited Form Modifications were If you or someone you know is a victim of consumer fraud due to a mortgage broker, real estate broker or appraiser’s actions, please visit updated due to the changes and/or our website at http://www.dora.state.co.us/real-estate/Complaints/ additions made to the Commission- Complaints.htm for the Division’s complaint process. Also, please visit approved forms. our website to learn more about the Division of Real Estate and consumer rights.
  5. 5. Rocky Mountain Real Estate News / Fall 2007 Page 5 Director’s Corner (continued from page 1) create more permeable walls among the three pro- regulated by the Division, and current issues or scams grams. We now have investigators familiar with the we are seeing in the marketplace. laws relevant to each program. Other Division staff members are cross-trained as well. Finally, in 2008 you will see more symmetrical enforcement efforts between and among the Division The Division is facilitating more open discussion of Real Estate and other regulatory bodies, especially between the Colorado Real Estate Commission and other Department of Regulatory Agency divisions. the Board of Real Estate Appraisers. Recently, a Currently, the Division of Real Estate is working with Board member gave a presentation to the Commission the Division of Civil Rights, the Division of concerning seller concessions, a critical issue that Insurance, and the Division of Financial Services to crosses all three programs. We intend to promote a ensure the greatest consumer protection. Further, we uniform response to the concession issue from the have close working relationships with the Division of Board and the Commission with respect to the mort- Housing, the federal Department of Housing and gage broker program. Urban Development, and the Colorado Office of the Attorney General, with whom we have overlapping You can expect to see the symmetry theme played jurisdiction. out with the Division’s handling of pre-licensure and continuing education. As we move forward into 2008, I hope you enjoy the new look of our publication. all licensees will be expected to know consumers’ Thank you for your support of our mission to protect rights, some of the responsibilities of other licensees consumers while ensuring a competitive marketplace. MISCELLANEOUS NEWS The Division of Real Estate is excited to announce that we now have staff available to assist Spanish-speaking consumers! Hot topics: Stay tuned for the next Rocky Mountain Real Estate News where we will discuss conservation easements and Section 1031 exchanges. Legislation Creates Significant Changes for Brokers (continued from page 3) have demonstrated a “good-faith” effort to become Industry owners, independent mortgage brokers, registered and will be granted an additional good-faith associations and consumers are represented to temporary registration valid through December 31, address subjects including reasonable inquiry, tangi- 2007. The Director also addressed lenders’ concerns ble net benefit, mortgage broker contracts, temporary regarding the impact of reasonable inquiry on nontra- licenses, mortgage broker disclosures, and the market- ditional mortgage products and documentation types. ing of nontraditional mortgage products. The Director The position statement issued by Erin Toll resolved also appointed a Mortgage Broker Education Task this uncertainty and clearly stated that reasonable Force to help define the requisite education and test- inquiry does not prohibit products or documentation ing for pre-licensing and continuing education. She types. has demonstrated a desire and willingness to listen to the industry, all associations, and consumers. The Director anticipates the promulgation of Ultimately, Erin Toll’s mission is to ensure consumer many new regulations in the Mortgage Broker pro- protection through education and enforcement gram. As a result, the Director appointed 10 individu- actions in order to create a level playing field for the als to a Mortgage Broker Rulemaking Task Force. mortgage industry.
  6. 6. Rocky Mountain Real Estate News / Fall 2007 Page 6 Renewal Time is Reminder for Almost Here Anniversary Date Renewals Approximately 18,000 broker licenses have December This is the first year for your anniversary date 31, 2007 expiration dates and must be renewed before renewal. For those licensees who last renewed in the end of the year. In addition, anniversary date December 2005, this is your year. Licenses will renewals begin on January 1, 2008. Are you one of the begin expiring beginning January 1, 2008 so affected licensees? You may refer to the printed check your pocket license or our website at license or pocket card to check the license expiration http://www.dora.state.co.us/real-estate for your date or visit the Commission’s website at renewal date. http://www.dora.state.co.us/real-estate and access the License Database. Save Time – Renew Online Renewal notices will be mailed the first week of November and reflect the prorated renewal rate asso- Beginning November 15, 2007 licensees can renew ciated with the transition to anniversary date renewal. their license online, 24 hours a day, 7 days a week at Renewal must be completed by December 31, 2007. If http://www.dora.state.co.us/real-estate. Simply click you are a licensee renewing in 2008, a renewal notice on the online services button displayed on the home will be sent to you 45 days prior to your expiration page and follow the prompts. Visa, MasterCard, date. You will have a 31 day grace period after your American Express and Discover cards are all accept- expiration date to pay your renewal fee. Any renewal able forms of payment online, and once the transac- received more than 31 days after an expiration date tion is complete licensees can immediately print a will be considered a reinstatement and subject to rein- confirmation page for their records. Save the time and statement fees. expense of writing a check and mailing your renewal. Plus you will have instant confirmation of your renew- Those wishing to renew a license on active status must al and the peace of mind that the Division has do the following: received the information and payment. A. Submit a set of fingerprints to the Colorado Bureau of Investigation for purposes of a state and national background check (allow up to 3 Don’t Forget to Renew months). If you renew in 2008 and are currently active, the Division already has record of your fin- E & O Insurance gerprint submission from the 2005 renewal cycle. All licensees who wish to remain on active status must B. Renew Errors & Omissions (E & O) Insurance renew Errors & Omissions insurance on an annual (allow time for transmission to Commission office basis. Policies issued by the state-endorsed group before December 31). provider, Rice Insurance Services Company (RISC), run annually from January 1 through December 31. C. Complete required continuing education. RISC will mail renewal notices to all licensees in mid- The Division highly recommends that licensees use October. Licensees are able to renew E & O insurance the online renewal process. The site is secured by the by using a credit card online at www.risceo.com. latest technologies and is available 24/7 with payment Be sure your information entered is accurate (name as by Visa, MasterCard, American Express, or Discover it appears on your license, license number, SSN). cards. Online renewal is the most reliable method and RISC will send the licensee an e-mail confirming is not dependent on the postal service, which is flood- renewal. The Commission will receive automatic ed with mail during the holidays. download proof of coverage from RISC with no action required by the licensee. Optional coverage, higher policy limits, and extended reporting periods are all available at extra cost. See the above-mentioned RISC website or call RISC at (800) 637-7319. Please do not call the Division of Real Estate with E & O coverage questions.
  7. 7. Rocky Mountain Real Estate News / Fall 2007 Page 7 Phones Jammed at Renewal Requirement for Renewal – When calling the Division’s licensing section during Criminal Background Check November and December, please be patient, as we Brokers licensed before July 1, 2004 must submit a set receive 300-500 calls per day. Calls are answered in of fingerprints to the Colorado Bureau of Investigation the order they are received. (CBI). CBI will complete a national criminal back- Licensees can access the Division’s website at ground check before the Division renews a license. http://www.dora.state.co.us/real-estate for answers The background check involves CBI conducting a to licensing questions. When renewing online, please state-level review. The fingerprints are then forwarded print a confirmation to serve as receipt by the to the FBI for a national check. This process can take Division. After the receipt is printed, it is not neces- several weeks; therefore, brokers should not wait to sary to contact the Division. You can also check have fingerprints taken and submitted. The sooner license status online from the Division’s home page by you submit your fingerprints, the better. If you clicking on “Verify your license status or your finger- renewed in 2005 and performed your fingerprints for print status” or the “Search Licensees” button. that renewal cycle, you are not required to fingerprint again. The Colorado Real Estate Manual New for 2007 — • New chapter covering the recently passed Mortgage Broker Licensing Act • New chapter discussing the law of Affiliated Business Arrangements • Fully revised and updated chapter on Water Rights • New Colorado Real Estate Commission Rules • New Board of Real Estate Appraisers Rules • Includes 2007/2008 statutory updates BRADFORD PUBLISHING CO. • 1743 Wazee St., Denver, CO 80202 • Phone 303-292-2590 • 800-446-2831 • Fax 303-298-5014 ORDER FORM Lines marked with ”X” are required to process your order correctly. X Date: ____________________________________ Please send a credit application X Company Name: ________________________________________________________________ X Phone No.: ______________________ X Name of Person Placing Order: ____________________________________________________ X Cell No.: ________________________ E-mail: ____________________________________________________________________________ X Fax No.: ________________________ X Street Address: ___________________________________________ City: _________________ State: ______ Zip Code: ____________ X Shipping Address: same as above or ____________________________________________________________________________ X City: ___________________________________________________________________ State: __________ Zip Code: ______________ X Charge my: Bradford Acct. No. / Visa / MasterCard: __________________________________ Exp. Date: ________________ Quantity Title Item No. Price 2007 Colorado Real Estate Manual ($17.00 ea.) CREM (Carton quantity discounts available.) Please call Customer Service at 303-292-2590 or 1-800-446-2831 for final price, including shipping and handling. Make a photocopy of this page to use as your order form. Fax to 303-298-5014.
  8. 8. Rocky Mountain Real Estate News / Fall 2007 Page 8 Continuing Education for Renewal A total of 24 hours of continuing education must have been completed during your renewal cycle. The mandatory 4-hour annual update course must be taken twice within the 3-year license period, totaling 8 hours. A real estate broker cannot take the same 4-hour Commission Update Course twice to receive the required credits for the update course. FAQ’s: Q1. I failed to take the Commission Update Course in 2006. How do I make it up? A1. Making it up is not possible because the course no longer exists. Please see question 5 for how to comply with missed continuing education. Q2. Is the 4-hour annual Commission Update Course in addition to the 24 hours required for renewal? A2. No. The Commission Update Course is included in the 24-hour total. Licensees should have 8 hours of 4-hour annual Commission Update Course plus an additional 16 hours of elective continuing education. Q3. Does the REALTOR ® Ethics course qualify for continuing education? A3. Yes, but only as part of the 16 hours of elective continuing education. Neither the N.A.R. required ethics course nor any other course required as a condition of membership in an association qualifies for the 8 hours of Commission Update Course. Q4. How does a licensee meet the continuing education requirements? A4. a) Complete a Commission Update Course twice during the 3-year license period and 16 elective contin- uing education hours, OR b) Pass the state portion of the broker licensing exam, OR c) Complete the 24-hour Brokerage Administration course (if not previously taken for CE credit), OR d) Complete the 24-hour Broker Transition Course (if not previously taken for CE credit). Q5. What if I currently hold a real estate license in another state? A5. a) Persons licensed in both Colorado and a state with which Colorado has entered a license recognition agreement may choose either to meet Colorado’s continuing education requirement or to meet the continuing education requirements for the other state. Courses must be taken during the Colorado renewal period to apply toward renewal of the Colorado license. b) Licensees who hold a current license in a state with whom Colorado does NOT have a license recog- nition agreement may use hours from the other state towards Colorado elective hours, but they must also take the Commission Update Course totalling 8 hours during the 3-year license period. Q6. When must continuing education be completed? A6. a) Before renewing any active license. b) Before applying to reactivate an inactive license c) Before applying to reinstate an expired license on active status Q7. What qualifies as continuing education? A7. Courses where the subject matter contributes directly to the professional competency of a licensee. The acceptable subject matter areas are found in C.R.S. § 12-61-110.5.
  9. 9. Rocky Mountain Real Estate News / Fall 2007 Page 9 Appraiser Licensure Changes by Mike Beery Effective January 1, 2008, the requirements for appraiser licensure will change. The Appraiser Qualifications Board (the “AQB”) of the Appraisal Foundation establishes the minimum education, examination and experience requirements for real property appraisers to obtain state certification. The Colorado Board of Real Estate Appraisers is required by law to implement requirements for appraiser credentials that are no less stringent than those issued by the AQB. The AQB has established new education, experience and examination requirements that Colorado must implement, effective January 1, 2008. These new requirements are known as the “2008 Criteria.” To learn more about the 2008 Criteria, visit the Appraisal Foundation’s website at: http://www.appraisalfoundation.org/s_appraisal/sec.asp?CID=98&DID=133. The 2008 Criteria significantly increase the amount of education required to become an appraiser in Colorado. The 2008 Criteria also require applicants to pass a new, tougher examination. The experience requirement also changes slightly under the 2008 Criteria. The Colorado Board of Real Estate Appraisers recently held a rulemaking hearing with respect to the way that Colorado will implement the 2008 Criteria. The proposed rule changes became effective on September 30, 2007. Applicants for appraiser credentials (initial or upgrade) are encouraged to become familiar with the new rules. The rules can be found at: http://www.sos.state.co.us/CCR/NumericalSubDocList.do?deptID=18&deptName=700%20Department%20of%20Regulatory% 20Agencies&agencyID=98&agencyName=725%20Division%20of%20Real%20Estate&ccrDocID=2308&ccrDocName=4%20CCR %207252%20RULES%20OF%20THE%20COLORADO%20BOARD%20OF%20REAL%20ESTATE%20APPRAISERS. Formal Disciplinary Actions The records of the following disciplinary actions can be accessed by clicking on the name of an individual to view the record online or by visiting the Division of Real Estate website under the heading Disciplinary Records at: http://eservices.psiexams.com/crec/search.jsp. Colorado Board of Real Estate Appraisers LAST NAME FIRST NAME DISCIPLINE IMPOSED Alberti Frank PUBLIC CENSURE, $3000 fine and coursework Bakke William PUBLIC CENSURE, $2000 fine, coursework and suspension for 30 days Blanco Gabriel PUBLIC CENSURE, $1800 fine and coursework Boring Jonathan PUBLIC CENSURE, $1500 fine, coursework, and probation for one year Bosworth Edward PUBLIC CENSURE, $1500 fine, and coursework Brent Donald PUBLIC CENSURE, $1200 fine and coursework Brungard Scott PUBLIC CENSURE, $2000 fine and coursework Budnik Daniel PUBLIC CENSURE, voluntary surrender of license Budnik Richard PUBLIC CENSURE, voluntary surrender of license Butler Elizabeth PUBLIC CENSURE, $1000 fine and coursework Dildine Susan PUBLIC CENSURE, $1500 fine and coursework Doll Michelle PUBLIC CENSURE, $4000 fine and coursework Douglas Leonard PUBLIC CENSURE, $2000 fine and coursework
  10. 10. Rocky Mountain Real Estate News / Fall 2007 Page 10 Esters James PUBLIC CENSURE, $24,000 fine and voluntary surrender of license Evancich Joseph PUBLIC CENSURE, $3000 fine and coursework Fleckenstein Kristin PUBLIC CENSURE, $1200 fine and coursework Foster Jeff PUBLIC CENSURE, voluntary surrender of license Gage David PUBLIC CENSURE, voluntary surrender of license Gallup Blaine PUBLIC CENSURE, $3500 fine and coursework Gillispie Bradley PUBLIC CENSURE, $1500 fine and coursework Gilpatrick Eric PUBLIC CENSURE, supervision for one year Heap Shayne PUBLIC CENSURE, $2500 fine and coursework Hyatt Andrew PUBLIC CENSURE, $600 fine and coursework Lawless Albert PUBLIC CENSURE, $1800 fine and coursework Lewis James PUBLIC CENSURE, $2000 fine and coursework Licata Gary PUBLIC CENSURE, suspension for 10 years Magar Jamie PUBLIC CENSURE, $2000 fine and coursework Manning Debbie PUBLIC CENSURE, $1500 fine and coursework Maxey Sean PUBLIC CENSURE, $2000 fine and coursework McCasland Janice PUBLIC CENSURE, coursework Musselman Gerald PUBLIC CENSURE, $2000 fine, coursework and supervision for one year Nielsen Delbert PUBLIC CENSURE. $3000 fine, coursework and supervision for three months Orr Eric PUBLIC CENSURE, $5000 fine, coursework and supervision for six months Pedersen James PUBLIC CENSURE, coursework Renick Duane PUBLIC CENSURE, coursework, supervision for six months Richards Christopher PUBLIC CENSURE, $1000 fine and coursework Roberts Marjorie PUBLIC CENSURE, coursework Ross Nanette PUBLIC CENSURE, $1500 fine and coursework Schriener Michael PUBLIC CENSURE, $1500 fine and coursework Shelman Bryan PUBLIC CENSURE, $1500 fine and coursework Sims Martin PUBLIC CENSURE, $1200 fine and coursework Slota Lori PUBLIC CENSURE, $1200 fine and coursework Smith John PUBLIC CENSURE, $300 fine and coursework Soloman Sean PUBLIC CENSURE, $2000 fine, coursework and supervision for six months Stanley Brian PUBLIC CENSURE, $1500 fine and coursework Weers David PUBLIC CENSURE, voluntary surrender of license Weers Jonathon PUBLIC CENSURE, $1000 fine, inactive thru 12/31/08, expire 12/31/08 and shall not be renewed thereafter White Lynn PUBLIC CENSURE, $3000 fine, coursework and supervision for six months
  11. 11. Rocky Mountain Real Estate News / Fall 2007 Page 11 Formal Disciplinary Actions The records of the following disciplinary actions can be accessed by clicking on the name of an individual to view the record online or by visiting the Division of Real Estate website under the heading Disciplinary Records at: http://eservices.psiexams.com/crec/search.jsp. Colorado Real Estate Commission LAST NAME FIRST NAME DISCIPLINE IMPOSED Alamillo Xochilt PUBLIC CENSURE, $500 fine Austin Kwami PUBLIC CENSURE, $500 fine Bachman Steven PUBLIC CENSURE, $500 fine Blitz Robert PUBLIC CENSURE, $500 fine Boyd-Van’tHoff Karen PUBLIC CENSURE, $500 fine Broncucia Joseph PUBLIC CENSURE, $500 fine Brooks Max PUBLIC CENSURE, $500 fine Burgess Monica PUBLIC CENSURE, $500 fine Burke William PUBLIC CENSURE, $500 fine Calhoun Susan PUBLIC CENSURE, $500 fine and probationary license Campbell Ralph PUBLIC CENSURE, $1,500 fine and coursework Castro Arlene PUBLIC CENSURE, $500 fine Chaves Sylvia Boyd PUBLIC CENSURE, voluntary surrender Clockston Julie PUBLIC CENSURE, $500 fine Codarin Tammy PUBLIC CENSURE, revoked (FAO) Coleman Jason PUBLIC CENSURE, $500 fine Coleman Anthony PUBLIC CENSURE, $500 fine Connelly Michael PUBLIC CENSURE, $500 fine and probationary license Dayton Griggs PUBLIC CENSURE, $500 fine DeGrande Danny PUBLIC CENSURE Deis Benjamin PUBLIC CENSURE, $500 fine DiGiacomo Joseph PUBLIC CENSURE, $500 fine Dodge David PUBLIC CENSURE, $500 fine and probationary license Doeden Gregory PUBLIC CENSURE, $750 fine D’Orazio Franco PUBLIC CENSURE, revocation Dullinger Robert PUBLIC CENSURE, $500 fine Edgar Troy PUBLIC CENSURE, $500 fine Ell Amy PUBLIC CENSURE, revocation Evans Roger PUBLIC CENSURE, $500 fine Flick Brenda PUBLIC CENSURE, $1000 fine and coursework Fowler Michelle PUBLIC CENSURE, $1,500 fine and coursework Fries Charles PUBLIC CENSURE, $500 fine and 90-day suspension
  12. 12. Rocky Mountain Real Estate News / Fall 2007 Page 12 Gibson John PUBLIC CENSURE, $500 fine Goodnight Dale PUBLIC CENSURE, $500 fine Gordon Russ PUBLIC CENSURE, $250 fine and coursework Gordon Diane PUBLIC CENSURE, $500 fine Hageman Gail PUBLIC CENSURE, $500 fine Haley Susan PUBLIC CENSURE, $1000 fine and coursework Hodgson Leanne PUBLIC CENSURE, $500 fine Howrey Cathy PUBLIC CENSURE, $2,500 fine and coursework Hudson John PUBLIC CENSURE, $500 fine Huff Walter PUBLIC CENSURE, $500 fine and probationary license Ingalsbe Colleen PUBLIC CENSURE, 4-month license suspension, $1,000 fine and coursework Jackson Jimmy PUBLIC CENSURE, $1000 fine Jacobs Jennifer PUBLIC CENSURE, permanent surrender Jacobs Jennifer PUBLIC CENSURE, $3,500 restitution and coursework Jensen Christopher PUBLIC CENSURE, $500 fine and probationary license Johnson Janice PUBLIC CENSURE, $500 fine Jones Ryan PUBLIC CENSURE, $500 fine and probationary license Jones Rick PUBLIC CENSURE, permanent revocation Key Tom PUBLIC CENSURE, $1,000 fine, 30-day license suspension and coursework Kokoszka Shon PUBLIC CENSURE, $500 fine Korman Daniel PUBLIC CENSURE, $500 fine and probationary license Koss Douglas PUBLIC CENSURE, $500 fine Krieg Michael PUBLIC CENSURE, $500 fine, 3-year restricted license Lagzdyn Maria PUBLIC CENSURE, $500 fine and coursework Le Phuc “Michael” Tho PUBLIC CENSURE, $500 fine and coursework Ledingham Thomas PUBLIC CENSURE, $500 fine Lehman David PUBLIC CENSURE, permanent surrender Lemoine Dixie Lee PUBLIC CENSURE, permanent surrender Lovell Tim PUBLIC CENSURE, $500 fine and 90-day suspension Lukanovich Susan PUBLIC CENSURE, permanent surrender Mangiarelli Ronald PUBLIC CENSURE, $500 fine Manzanares Joe PUBLIC CENSURE, $3,500 fine and coursework Maybee Peter PUBLIC CENSURE, $500 fine McBride Kimberly PUBLIC CENSURE, $500 fine, 3-year restricted license McCoy Derek PUBLIC CENSURE, $500 fine McDonald Stephen PUBLIC CENSURE, permanent surrender Meythaler Jeffrey PUBLIC CENSURE, see paragraph 8a. and 8b. of stipulation Mierra Martha PUBLIC CENSURE, $500 fine Mitchell Marci PUBLIC CENSURE, $500 fine
  13. 13. Rocky Mountain Real Estate News / Fall 2007 Page 13 Moore Barbara PUBLIC CENSURE, revocation Motheral Leigh PUBLIC CENSURE, $500 fine Nardi Peter PUBLIC CENSURE, permanent surrender Neal Dennis PUBLIC CENSURE, permanent surrender Olsen Tynan PUBLIC CENSURE, permanent surrender Ough Scott PUBLIC CENSURE, permanent surrender Palmonari Alcide PUBLIC CENSURE, $500 fine Paterson Robert PUBLIC CENSURE, $500 fine and coursework Paterson Arthur PUBLIC CENSURE, $500 fine and coursework Peters Kim PUBLIC CENSURE, permanent surrender Porter Rodney PUBLIC CENSURE, $500 fine Powers John PUBLIC CENSURE, $500 fine Quimby Sabine PUBLIC CENSURE, $1000 fine and coursework Rayback Lynn PUBLIC CENSURE, revocation Sadler Gary PUBLIC CENSURE, $500 fine and coursework Scheuermann Eric PUBLIC CENSURE, permanent surrender Sedillos Gary PUBLIC CENSURE, $500 fine Sessions Stanley PUBLIC CENSURE, $500 fine Shea Alfred PUBLIC CENSURE, revocation Shoptaugh Frank PUBLIC CENSURE, $500 fine Snyder Candy PUBLIC CENSURE, probationary license Soukup Troy PUBLIC CENSURE, permanent revocation Stefan Christopher PUBLIC CENSURE, $500 fine Stone Michael PUBLIC CENSURE, permanent surrender Stone Kenneth PUBLIC CENSURE, $500 fine Strebeigh Timothy PUBLIC CENSURE, $500 fine Tanner Frank PUBLIC CENSURE, $500 fine Tarantino Joseph PUBLIC CENSURE, $500 fine Velpuri Seshagirirao PUBLIC CENSURE, $5,000 fine and 6 month license suspension Wagner Gregory PUBLIC CENSURE, $500 fine Walker Norma Lou PUBLIC CENSURE, permanent surrender Walker Rick PUBLIC CENSURE, $500 fine Watkins Donald PUBLIC CENSURE, $500 fine Watt John PUBLIC CENSURE, $500 fine Welty Bruce PUBLIC CENSURE, see paragraph 6 & 7 of stipulation Wilcox Craig PUBLIC CENSURE, $500 fine Wilson Craig PUBLIC CENSURE, $500 fine Zimmerman Richard PUBLIC CENSURE, 30-day license suspension, $7,500 restitution and coursework

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