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AMC Regulation

Discussion in 'General Appraisal Discussion' started by Pilgrum, Jul 13, 2011.

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  1. Pilgrum

    Pilgrum Senior Member

    50
    Mar 6, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada
    How many here check to see if an AMC is registered with their state? That is if your state has developed a regulation.
    Or do you only care about the fee and take the order regardless of AMC compliance with your state's regulation?
    Has anyone reported an AMC to their state for non compliance?
     
  2. Jo Ann Meyer Stratton

    Jo Ann Meyer Stratton Elite Member

    42
    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Arizona
    Here in Arizona our AMC law is paying off as long as the order is received from an AMC registered in this state. On the signature page at the name line I type in the name of the AMC and their Arizona registration number. Several of the AMCs now include that AZ registration number in their orders. The executive director for the board just sent out a very informative newsletter to Arizona appraisers that have subscribed to their email list. Side note--ALL Arizona appraisers need to subscribe NOW!!! Todays newsletter talks about the problem of Arizona appraisers accepting orders from non-registered AMCs. If they are not registered, the Board cannot help an appraiser to collect from an AMC. If they are registered and haven't paid within 45 days, the AMC is in violation of Arizona law and the Board will contact the offending AMC. They have revoked the licenses of several AMCs for violating Arizona law--not paying the appraiser in a timely matter. That latest newsletter will be posted to their web site in the next few days.

    http://www.appraisal.state.az.us/
     
  3. Mile High Trout

    Mile High Trout Elite Member

    49
    Feb 13, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    Good one AZ!
     
    Last edited: Jul 15, 2011
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