The URL can be used to link to this page

89-599 WNI7E - CITV CI.ERK PINK - FINANCE GITY O AINT PAUL Council //�� CANARV - DEPARTMENT ��r, �-_ 9LUE -MAVOR File NO. ounc l esolution 17 Presented By Referred To Committee: Date Out of Committee By Date WHEREAS , the federal gover e t is moving toward mandatory licensing for real estate pp aisers, and WHEREAS, the Office of Man ge ent and Budget will soon require licensing for those who do ap raisals on federally-insured mortga�es such as those of r d by the Federal Housing Administration, Housing an U ban Development and the Veterans Administration, and WHEREAS , a group of Minnes a appraisers approached the State Commerce Department and re e ted legislation requiring appraisers who conduct busi e s in the State of Minnesota to be licensed since there cu re tly is no penalty or censure for appraisers who write incor c appraisals, and WHEREAS, an Appraisers Tas F rce drafted legislation for presentation to the 1989 St t Legislature and the bill has been introduced as H. F. 624 , THEREFORE, BE IT RESOLVED, h t the City of Saint Paul supports the licensing of r a estate appraisers. COUNCIL MEMBERS � Requested by Department of: Yeas Nays Dimond Lo� � in Fav r Gosw;tz Rettman � B sc6e;be� _ Agains Y Sonnen Wilson APR � 5 �9� Form Approve y City Att e Adopted by Council: Date Certified Pas e y ouncil Se eta By By, �`� ° Appro y 1Aavor: Date �� — � � 9 Approved y Mayor Eor Submission t Coa�ncil — c ; � , B � By P4lB�Si�D ",''`' 1 � 19 � Y . . ' ��`✓77 BRIEFING PAP R: ST TE LICENSING OF REAL T E APPRAISERS Background The federal government is moving t wa d mandatory licensing for real estate appraisers. The Office of Managem nt and Budget will soon require licensing for those who do appraisals on fed ra ly-insured mortgages such as those offered by the Federal Housing Adm ni tration, Housing and Urban Development and the Veterans Administration. g oup of Minnesota appraisers approached the State Commerce Department and eq ested legislation requiring appraisers who conduct business in the State ' f innesota to be licensed. The appraisers' group stated unethical' ap raisers currently face no penalty or censure for writing incorrect appr is ls. Appraisals are required by lenders before mortgages are approved and re supposed to reflect actual property value. Status An Appraisers Task Force drafted 1 gi lation in December for presentation to the 1989 State Legisla,ture. The b 11 has been introduced as HF624 by representative Connie Morrison (IR Bu nsville) . Citv Position PED strongly supports the licensin o real estate appraisers. The Housing Division currently operates single 'f 'ly mortgage programs funded through the sale of Mortgage Revenue bonds at le el of about $15 million per year. Accurate appraisals are a critical le ent in the success of such mortgage programs. PED has had several neg iv experiences with incorrect appraisals and, if the proposed legislation h b en in place, would have taken action against the appraiser. Licensing o a praisers will have a strong positive impact on reducing the risk of mort ag origination. OI_UC.••• - �,AYpN •1. • . �.J l l 1 lI i' �. :\ 1 1V l t t1 V L • File N d. � ' � Counci ' esolution Presented [3y "c� Referred To Committee: Date Out of Committee By Date WHEREAS , the federal go��ermm � is cnoving toward mandatory licensing for real estate ap r isers , and WHEREAS , the Office of Planag m nt and Budget will soon require ' licensing for those who do a p aisals on federally-i.nsured mortgages such as those offe ed by the Federal Housing Administration, Housing and rb n Development and the Veterans Administration, and WHEREAS , a group of Minnesot a praisers approached the State Commerce Department and requ st d legislation requiring appraisers who conduct busin ss in the State of Minnesota to be licensed since there curr nt y is no penalty or censure for appraisers who write incorre t ppraisals, and WHEREAS , an Appraisers Task r e drafted legislation for presentation to the 1989 Stat egislature and the bill has been introduced as H. F. 624 , THEREFORE, BE IT RESOLVED, th t the City of Saint Paul supports the licensing of rea state appraisers. COUNCIL MEMBERS Requested by Department of: Yeas Pfays Dimond ��g in Favor Goswitz Rettman �h�be� Against BY Sonnen �Ison Form Approved by City Attorney Adopted by Council: Datc Certified Passed by Council Secretary BY By. Approved by Havor. Date Approved by Mayor for Submissioa to Council gy By _ _ WHITE - G�TV CLERK PINK - FINAN�E G I TY OF S I NT PAU L Council G BLUERV - MAVORTMENT File NO. • ��/ Counci esolution Presented By Referred To Committee: Date Out of Committee By Date WHEREAS , the federal govermm �t is moving toward mandatory licensing for real estate ap ra' sers , and WHEREAS , the Office of Manag me t and Budget will soon require licensing for those who do a pr isals on federally-insured mortgages such as those offe ed by the Federal Housing Administration, Housing and rb n Development and the Veterans Administration, and WHEREAS, a group of Minnesota a praise.rs approached the State Commerce Department and reque t d legislation requiring appraisers who conduct busine s in the State of Minnesota to be licensed since there curre t y is no penalty or censure for appraisers who write incorrec praisals, and WHEREAS, an Appraisers Task F rc drafted legislation for presentation to the 1989 Stat L gislature and the bill has been introduced as H. F. 624 , THEREFOR�, BE IT RESOLVED, th t he City of Saint Paul supports the licensing of rea e tate appraisers. COUNCIL MEMBERS Requested by Department of: Yeas Nays Dimond ��g In Favor Goswiti Rettman B s�ne;�i __ Against Y — Sonnen Wilson Form Approve y City Att e Adopted by Council: Date — Certified Passed by Council Secretary By B}. Appro �y 17avor: Date � _ Approved�by Mayor for Submission t Council __ — \/`'�f � � ��. � �l ,�/� �G i �� . , � � G��-.�� Members: James Scheibel, Chair Committee-of-the-whole REC��v�D Da e: March 13, 1989 MAR� � 1989 C m ittee Report ��TY c��k�; To: St. Paul City Council From: City Council Legisl ti n Committee 1. Approval of minutes of February 27, 1989 meeting. COMMITTEE RECOMMENDED APPROVAL 2. Refugee Assistance Funding COMMITTEE RECOM�iENDED APPROVAL 3. Ramsey County Charter Commission COMMITTEE LAID THIS OVER UNTIL T M IMOND COULD BE PRESENT 4. Substantial rehabilitation COMMITTEE RECOMMENDED LAYOVER ,..�.��r' ;��t�p��S��4rs � C�i� '�E:`d�� APPTtOVAL 6. Fire Insurance COMMITTEE RECOMMENDED LAYOVER 7. Food First Coalition Legislation ge da COMMITTEE RECOMMENDED APPROVAL 8.. Community Residential Facilites ( .F 235/H.F. 222) (Note: this item was not on comm'tt e agenda) COMMITTEE RECOMMENDED A LETTER BE SE T TO SENATOR MARILYN LANTRY AND REP. SANDY PAPPAS REQUESTING THEY'ME T WITH THE CITY COUNCIL AND REPRESENTATIVES 9. POLLUTED LANDS (This item not on ag nda) COMMITTEE RECOMMENDED APPROVAL