AMC's

[BarbaraNJ]

One of the laws signed by Christie today:

• ACS for A-1973/SCS for S-2401 (Prieto, Handlin/Diegnan, Stack) - "Appraisal Management Company Registration and Regulation Act"

Anyone know anything about it ????

 

[Carlos Danger]

Not much information out there.

 

[Rick Kulman]

A copy of the bill is attached.
A number of appraisers worked closely with the legislators in drafting the bill. It was also reviewed by committees of the various appraisal organizations prior to its being submitted to the governor.

 

[BarbaraNJ]

A copy of the bill is attached.
A number of appraisers worked closely with the legislators in drafting the bill. It was also reviewed by committees of the various appraisal organizations prior to its being submitted to the governor.

Thank you for the copy.
A bit long, like everything that comes out of government.
I will try to read it all this weekend (and try not to fall asleep).
If you've read it, does it offer protection for appraisers when the AMC doesn't pay their bills ?

Personally, I don't work with AMC's. Not so much the reduced fee, but the hoops you jump through like updating them every hour and responding to often unreasonable rewrite requests.