The Colorado Board of Real Estate Appraisers has revoked the licenses of Maksym Mykhailyna, a certified residential appraiser and controlling appraiser based in Denver. The decision follows an investigation by the Division of Real Estate, part of the Department of Regulatory Agencies, which found significant violations of license law.
According to officials, Mykhailyna operated an appraisal firm that used unlicensed individuals outside the United States to complete appraisal assignments. These reports then had signatures from credentialed appraisers affixed without their knowledge. The investigation also found that Mykhailyna failed to properly supervise both licensed and unlicensed assistants and was involved in submitting appraisals containing unauthorized signatures.
As a result, Mykhailyna was ordered to surrender his licenses immediately and pay a fine totaling $97,500. The surrender is treated as a revocation under Colorado law.
Director Marcia Waters stated, “the Division of Real Estate treats all investigations with the utmost care and holds all licensees to account for violations of license law.” She also noted that federal regulatory agencies are aware of the findings, referencing a related press release from the United States Department of Justice available at https://www.justice.gov/opa/pr/justice-department-sues-rocket-mortgage-appraisal-management-company-and-appraiser-race.
The Division emphasized its statutory role in enforcing license law against real estate licensees but clarified it cannot seek civil restitution for consumers or release details about ongoing investigations due to legal restrictions.
Individuals who believe they may have been affected are encouraged to file a complaint with the Division at dre.colorado.gov, consult with a licensed attorney via cobar.org or by calling (303) 860-1115, or contact local law enforcement where their property is located.
