What to do with non-registered AMC's

[Scott R Marshall]

Trying to find the number of staff members appears a bit more difficult than I thought it would be. Per the minutes, there appears to be at least 3 but the names and their roles keep changing, leading me to believe that there are either more than 3 or they are also staff within other state boards.

 

[Riick]

A budget of $176,000 would get how much investigation and enforcement done?

$176,800 = 678 appraiser at about $260 fee per annum/ $525 @ 2 years.
State needs to subsidize the Board, or continue to just forget about it.
Of course the appraisers might want to give the State $1500 for 2-year renewals, so Board can have $1 mil to chase them & AMCs.
.

 

[Lobo Fan]

The appraisal board shares staff with the acupuncturists and cosmeticians. I think there is one woman that spends most of her time on the appraisers, especially at renewal time. The fees go into the general fund and are then allocated to the boards. The new governor wants to consolodate the appraiser and real estate boards.

As far as disciplinary actions go, it took them 7 years to get Van Amburg. The NM appraiser board is grossly underfunded. I would think that getting a couple of carpet bagging AMCs at $10,000 per report would be a nice jump in funding.

 

[USPAP Compliant]

The appraisal board shares staff with the acupuncturists and cosmeticians. I think there is one woman that spends most of her time on the appraisers, especially at renewal time. The fees go into the general fund and are then allocated to the boards. The new governor wants to consolodate the appraiser and real estate boards.

As far as disciplinary actions go, it took them 7 years to get Van Amburg. The NM appraiser board is grossly underfunded. I would think that getting a couple of carpet bagging AMCs at $10,000 per report would be a nice jump in funding.

That could very well be true....if so then it has been a conscious choice by the legislature to underfund .


What have you got....850 appraisers including trainees? A $500.00 annual license fee along with class/course/educator fees would bring in $500,000. A board can be run on that.

Fewer appraisers means fewer complaints, investigations.....etc.


State appraisal boards that are under funded are that way by choice.

I would be happy to pay $500.00 per year renewal fee for an honest, efficient and proactive appraisal board.


States with smaller numbers of licensees holders should be consolidated with other boards where possible. Much of the non-investigative activities in state license boards have similarities that would allow consolidation.

 

[Michael S]

The appraisal board shares staff with the acupuncturists and cosmeticians. I think there is one woman that spends most of her time on the appraisers, especially at renewal time. The fees go into the general fund and are then allocated to the boards. The new governor wants to consolodate the appraiser and real estate boards.

As far as disciplinary actions go, it took them 7 years to get Van Amburg. The NM appraiser board is grossly underfunded. I would think that getting a couple of carpet bagging AMCs at $10,000 per report would be a nice jump in funding.

I think the board has the equivalent of about 0.75-1.00 full time person. There's also a lawyer that is spread between multiple boards. Recently I was trying to get some clarification about a class for qualifying education. Over a two week period I sent two or three emails to the board and made 4-5 phone calls. No one ever returned my calls or emails. Finally on about the fifth phone call someone answered. My experience in the past has been that it generally takes a few days on average to get someone on the phone or a response to an email.

Here's a link to the statutes for AMC's. http://www.nmcpr.state.nm.us/nmac/_title16/T16C065.htm

I noticed throughout the rules it says this at the beginning:

SCOPE: All real estate appraisal management companies registered and applying for registration with the board.

So if an AMC isn't registered, and isn't applying for registration does that mean the rules don't apply?

Here's a link to the complaint form: http://www.rld.state.nm.us/uploads/FileLinks/24d99c2ad7bd4a01a7f02cbc04652847/Complaint Form.pdf It has to be notarized. If you don't turn this company in who will? That was the biggest takeaway from the 4-hour mandatory renewal class. Unless someone takes the time to file a complaint, the board doesn't know about it and won't do anything about it.

 

[USPAP Compliant]

Here's a link to the complaint form: http://www.rld.state.nm.us/uploads/F...int Form.pdf It has to be notarized. If you don't turn this company in who will? That was the biggest takeaway from the 4-hour mandatory renewal class. Unless someone takes the time to file a complaint, the board doesn't know about it and won't do anything about it.



Amen and Amen.

 

[Lobo Fan]

Crap now I am in the same boat. I got an order from a company with a similar name to one I know to be OK. I was about done and at the point where I disclose the fees and AMC license number. I didn't see it on the order and a search of the state web site found nothing.

The product was a retro field review. I called and they claimed not to be an AMC. "We are not a AMC, we are a provider of fraud detection and risk mitigation solutions."

I think are AMC law defines an AMC as anyone that orders appraisals and receives a fee.

 

[USPAP Compliant]

Crap now I am in the same boat. I got an order from a company with a similar name to one I know to be OK. I was about done and at the point where I disclose the fees and AMC license number. I didn't see it on the order and a search of the state web site found nothing.

The product was a retro field review. I called and they claimed not to be an AMC. "We are not a AMC, we are a provider of fraud detection and risk mitigation solutions."

I think are AMC law defines an AMC as anyone that orders appraisals and receives a fee.

I would expect an AMC law to be a little less broad and more flexible. NC actually has a list of semi-AMC outfits that have been exempted.

I hope you get your money. :new_llying:

 

[Roy Courtney]

We need a poll! :icon_mrgreen:
(1) Would you turn in a non-registered AMC to the state authorities?
(2) Does a bear crap in the woods?
Anyone who answered yes to both questions should get ice cream for desert!