C.A.N. Update

[Pilgrum]

Just an FYI. Every littl bit helps.

Some updates from C.A.N. -


For those of you who attended the Appraisal Commission's workshop on the AMC regulations last Tuesday, thank you very much for your support. C.A.N. has scored an important victory for appraisers in Nevada. Not only did we get AB 287 (the "AMC bill") passed into law last summer, but, the regulations implementing this law that were approved last week by the Commission are very favorable to NV appraisers. These regulations include the following provisions:

1. The AMC must supply a copy of their fee schedule, if they use one.
2. The fee paid to the appraiser and the amount retained by the AMC must be provided to the appraiser by the AMC; and the appraiser "shall disclose in the body of the appraisal report" both of these dollar amounts.
3. The Division may take disciplinary action against or deny a registration to an AMC; and those actions may be reported to a national repository, agency of another state, or any agency or board of the State of Nevada. In like manner Nevada can deny a AMC registration application for all of the same reasons an individual can be denied an appraisal license or certification.
4. An Appraiser may not prepare an appraisal for an AMC that is not legally registered to do business in NV. This requirement is added to NAC645.C.405.

These regulations will be scheduled for a formal adoption hearing, which is anticipated to take place in mid-January 2010. We'll keep you posted as to when these regulations will become effective.

 

[Sierra Dale]

I read this part on-line. - The fee paid to the appraiser and the amount retained by the AMC must be provided to the appraiser by the AMC; and the appraiser "shall disclose in the body of the appraisal report" both of these dollar amounts. - How many do you think will disclose this? When will the list of registered AMC's be available? Thank you for the information.

 

[Pilgrum]

I just checked and only 5 AMCs have complied with registration.
A part of the problem, both here and in other states, is that there just isn't enough money available for enforcement. At one time Nevada was over 3 years behind in the investigation of complaints against appraisers.
I also tried to find the actual law where it says they must disclose their fees and that we must put that info in the body of the report. I couldn't find that but will continue looking.

 

[Sierra Dale]

Thank you. Keep me updated.

 

[Sierra Dale]

May I show my ignorance and ask who CAN is or what it stands for?

 

[Pilgrum]

C.a.n.

Coalition of Appraisers in Nevada. They may be found at the following web site.
http://www.nvappraisers.org/

 

[VegasWayne]

Where do you check for registered AMC's? I checked today on the license search page of the Nevada RED and could only find two licensed AMC's in the state.