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Florida AMC Regulation - A Reality

Discussion in 'Florida' started by Francois K. Gregoire, Jul 6, 2011.

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  1. Francois K. Gregoire

    Francois K. Gregoire Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    The Florida Division of Real Estate, Department of Business and Professional Regulation worked overtime to ensure a process was in place to register Appraisal Management Companies on July 1, 2011.

    It's important to be aware of the unique definition of Appraisal Management Companies in Florida Law:
    More information is on the FREAB site, but the answer to this question is of particular importance.

    Who will be required to register as an AMC?

    Some comments, links to more information and the online pdf AMC Application are posted on Appraiser Active.
     
  2. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Are traditional appraisal firms exempt (as long as these are not represented as being an AMC)?
     
  3. Francois K. Gregoire

    Francois K. Gregoire Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Lee,

    Although I'm not the one making these decisions, there are no exemptions identified in the Florida law.
     
  4. mike32716

    mike32716 Junior Member

    0
    Jan 23, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I am still curious how the state can enforce the AMC registration on out of state AMCs? Dodd-Frank only calls for AMCs to be registered with no mention of where or mandate that they be registered in each state they do business. What kind of teeth does FREAB have to go after out of state AMCs?
     
  5. David Sawyer

    David Sawyer Member

    0
    Mar 8, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Frank,
    Can you direct me to access a list of registered AMC's in Florida.

    Thank you in advance!
     
  6. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois

    That's unfortunate.
     
  7. ddnma

    ddnma Junior Member

    0
    Apr 4, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    I think it makes sense, it does not protect the mills... some of who probably authored laws in other states specifically exempting themselves.
     
  8. leelansford

    leelansford Elite Member

    45
    Mar 29, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois

    But, of course, one (licensed appraisers) is already regulated and the other (AMCs) is not.

    I'm not an expert on FL's AMC regulation (perhaps Mr. Gregoire can offer coment), but, I suppose that it is possible that a Florida appraiser who takes on a trainee might find that he or she is then classified as an AMC.
     
  9. Francois K. Gregoire

    Francois K. Gregoire Senior Member

    0
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    I believe there is an option to download a CSV list of all licensees at the MYFLORIDAlicense.com site

    I just ran search for AMC licensees on the site (searched real estate appraisal, license type, appraisal management company, out of state) and found 8 pages of licensees.

    Here is the LINK.

    EDIT - Sorry. the search link above does not work. You'll have to build your own search.
     
  10. David Sawyer

    David Sawyer Member

    0
    Mar 8, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Thanks Frank!
    I connected per above. There are only 80 AMC that are either registered or application in process. I detected many AMC's that are not on this list! Many of which I have done business with in the last couple of months. Any suggestions?
     
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