Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
 
Board
Real Estate Appraiser Board
 
chapter
Appraisal Management Company Regulations [18 VAC 130 ‑ 30]
Action Initial Appraisal Management Company Regulations
Stage Proposed
Comment Period Ended on 3/28/2014
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3/28/14  7:22 am
Commenter: Christopher Breaux

AMC Regulation
 

I would like to thank you for taking the time to look into this matter that affects all appraisers in this industry. AMC regulation is not just a topic in my office but also throughout many offices throughout the state. Many feel that there needs to be set standards for AMC's and I definitely agree with this. We as appraisers are held to high standards and regulations and I feel it's time AMC's are held to similar if not even higher standards. In recent years, the criteria for becoming an appraiser has become more rigorous. Depending upon the level of certification, one must obtain various levels of college education. Regulations of AMCs will assist in holding our profession to high standards. We have seen many AMC's conduct business in our state for many months and then close their doors without fulfilling their commitments to appraisers. There are numerous AMC's across the country that conduct business in our state that have been professional to work with. I feel if new regulations are passed, this would allow for more positive experiences with all AMC's. Other states have regulations for AMC's and now is the time for Virginia to follow along. Hopefully in the future Virginia can be a leader in regards to other professional matters like this. Again, thank you for considering  these regulations and know you have the support not only from me but from many other appraisers across the state! Thank you!

 

CommentID: 31517