Who dictates the guidelines of an appraisal management company or AMC and what are these guidelines?

Appraisal Management Companies are subject to standards, guidelines, and law at the state and federal level. They are ever changing and too many to list. For guidance, you may look to the following agencies regulating the lending and appraisal industries;

The Office of the Comptroller of the Currency

Federal Deposit Insurance Corporation

Federal Reserve Board of Governors

The Appraisal Subcommittee

Office of Thrift Supervision

The Appraisal Foundation

Freddie Mac

Fannie Mae

HUD

The following are some of the standards and bills currently in place:

Dodd-Frank Wall Street Reform and Consumer Protection Act

Inter-agency Appraisal and Evaluation Guidelines

Uniform Standards of Professional Appraisal Practice

Uniform Appraisal Data-set

The following is a list of states requiring AMC's to register. (May not be current, check your state laws for current standings!)

Arizona

Arkansas

California

Florida

Georgia

Indiana

Louisiana

Minnesota

Missouri

Nevada

New Mexico

North Carolina

Oklahoma

Oregon

Tennessee

Utah

Vermont

Virginia

Washington

You can find the links to all of the above information on our site. Just go to my profile page User:AppraisalDepot, click our site and go to "Compliance and Resources".