New Joint Rule for Appraisal Management Companies Released
The six federal financial regulatory agencies issued their final rule that implemented minimum requirements for state registration and supervision of appraisal management companies (AMCs). The rule doesn't mandate state participation for registration and supervision, but restricts AMCs in those states from federally related transactions. In other words, states wanting to have AMCs in their respective states have 36 months from the effective date of the final rule to establish registration and supervision. [5/1/15]
