This page is continually updated. Last Update 01/2024. Sign up to get notified when we publish new updates.
DISCLOSURE: These references are meant to give you useful links and verbiage from those links but are not meant to replace legal counsel’s professional opinion. Appraisal Aid understands there may be some variance in opinion or interpretation as to if a state requires licensure in the state or not if it is not clearly stated in the state regulations. Commentary has been included with some states that further explains our rationale in the decision as to if we require a license in that state or not.
Additional helpful resource: https://law.justia.com/
With so many resources available when you do a search, it can be a concern as to if you are looking at the most recent version or not. This site will tell you if you are looking at the most recent version.
Alabama
State Regs Reference
​
CHAPTER 780-X-17-.10(a) Appraisal Review
Ala.Code 1975 § 34-27A-52
Helpful Links
​
ttp://www.alabamaadministrativecode.state.al.us/docs/reapp/780-X-17.pdf - Revised 03/31/2021
​
https://reab.alabama.gov/about/appraisers-and-appraisal-management-company-regulatory-information/
An appraisal management company shall annually certify to the Board, on a form prescribed by the Board, that the appraisal management company periodically reviews the work of all appraisers performing appraisals and appraisal reviews for the appraisal management company to verify that the appraisals are being conducted in accordance with Uniform Standards of Professional Appraisal Practice (USPAP). An appraisal management company is not required to review all appraisals performed by each appraiser but may choose a representative sample of each appraiser’s reports. Record of the samples selected for compliance review shall be kept for a period of five (5) years from the date of the compliance review.
(c) An employee of an appraisal management company, or any contractor working in any capacity on behalf of an appraisal management company, that has any involvement in the actual performance of appraisal services, or the review and analysis of completed appraisals in Alabama shall be an appraiser certified in Alabama. The license classification shall qualify the employee to perform all applicable job functions.
​
Alaska
State Regs Reference
​
Sec. 08.87.135.
Sec. 08.87.140. Mandatory reporting.
Helpful Links
​
https://www.commerce.alaska.gov/web/portals/5/pub/AppraisersStatutes.pdf (March 2023)
​
(3) requires a real estate appraiser to comply with USPAP.
A real estate appraisal management company or a controlling person, employee, director, officer, or agent of a real estate appraisal management company that has reasonable cause to believe that a real estate appraiser has failed to comply with USPAP as adopted under 12 U.S.C. 3339 in a manner that materially affects a valuation appraisal shall report the noncompliance to the board and to the Appraisal Subcommittee established under 12 U.S.C. 3310.
Arizona
State Regs Reference
​
Chapter 36 – Article 5 for AMC’s– 32-3661-3680
32-3603B
32-3662(B)(6)
32-3672(2)
32-3603B- No person other than a state licensed or state certified appraiser may receive a fee for a real estate appraisal or an appraisal review of real property in this state.
32-3662(B)(6) - A certification that the person seeking registration has a system in place to review the work of all independent appraisers that are performing real property appraisal services for the appraisal management company on a periodic basis to confirm that the real property appraisal services are being conducted in accordance with uniform standards of professional appraisal practice.
​
32-3672(2)- Has a system in place to review the quality of appraisals of all independent appraisers that are performing real property appraisal services for the appraisal management company on a periodic basis to confirm that the real property appraisal services are being conducted in accordance with uniform standards of professional appraisal practice.
Arkansas
State Regs Reference
​
17-14-405(b)(6)(B)
17-14-414 Appraisal Review
Has a system in place to review the work of all independent appraisers that are performing appraisal services for the appraisal management company on a periodic basis to ensure that the appraisal services are being conducted in accordance with the minimum reporting standards under §17-14-202(b);
Any employee of an appraisal management company or an independent contractor of the appraisal management company who performs a USPAP Standard 3 appraisal review of an appraisal report on a property located in this state shall be an appraiser with the proper level of appraiser credential issued by the Arkansas Appraiser Licensing and Certification Board.
California
State Regs Reference
​
11345.3(b)
Reviewing the work of all employee appraisers and independent contractor appraisers contracted by the applicant to ensure that appraisal services are performed in accordance with USPAP.
Colorado
State Regs Reference
​
4 CCR 725-2 Chapter 1.38 (01/01/2020 Version)
725-2 Chapter 18.1(A) Appraisal Selection.
Helpful Links
​
https://www.sos.state.co.us/CCR/GenerateRulePdf.do?ruleVersionId=8457&fileName=4%20CCR%20725-2
4 CCR 725-2 Chapter 1.38 (01/01/2020 Version) Review Appraiser: An appraiser, who is actively credentialed in a jurisdiction that is in compliance with Title XI, FIRREA, as determined by the ASC as defined in Board Rule 1.42, who performs a review of another appraiser’s work subject to USPAP Standard 3. A review appraiser is not required to obtain a Colorado appraiser’s license unless the review appraiser arrives at his or her own opinion of value for real property located in Colorado.
725-2 Chapter 18.1(A) Appraisal Selection. The audit sample must be randomly selected and a USPAP Standard 3 Review must be performed on not less than two percent (2%) of all appraisal reports performed by appraisers for the appraisal management company during the previous Reporting Period. A minimum of at least one (1) USPAP Standard 3 Review must be performed for each appraiser who completed a Colorado appraisal assignment during that Reporting Period.
Connecticut
State Regs Reference
​
Public Act No. 10-77 (Pg. 4/ 13)
Public Act No 10-77 (Pg. 6/13)
Public Act No. 10-77 (Pg. 8 and 9/13)
Review on a periodic basis the work of all appraisers performing appraisals for the company to ensure that such appraisals are being conducted in accordance with USPAP. review on a periodic basis the work of all appraisers performing appraisals for the company, to ensure that such appraisals are being conducted in accordance with USPAP;
(1) Certify that each appraisal management company applying for a certificate of registration has procedures in place to (C) review on a periodic basis the work of all appraisers performing appraisals for the company, to ensure that such appraisal conducted in accordance with the USPAP;"
(b) Any employee of an AMC or any contractor working on behalf of such company who has any involvement in the performance of appraisals in this state or review and analysis of completed appraisals in this state shall be licensed or certified and in good standing pursuant to the provisions of sections 20-500 to 20-528, inclusive, of the general statutes, as amended by this act. This subsection shall not prohibit an individual who is not so licensed or certified from performing job functions that (1) are confined to an examination of an appraisal or an appraisal report for grammatical, typographical or clerical errors, and (2) do not involve the formulation of opinions or comments about (A) the appraiser's data collection, analyses, opinions, conclusions or valuation, or (B) compliance of such appraisal or appraisal report with the USPAP.
Washington DC
State Regs Reference
​
DC AMC Application
Appraisal Management Company Regulation Congressional Review Emergency Act of 2019
Helpful Links
​
​
pg. 5/8 I certify that this appraisal management company has a system in place to review the work of all independent appraisers that are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP.
Sec 106(a)(3) Any employee of or independent contractor to the appraisal management company who performs an appraisal review for a property located in the District must be a certified or licensed appraiser in good standing in the District; and Sec 106(b)An appraisal management company that has a reasonable basis to believe an appraiser has materially failed to comply with applicable laws or rules or has materially violated the USPAP shall refer the matter to the Department in conformance with applicable federal laws and regulations.
​
(7) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment and is related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the uniform standards of professional appraisal practice. This term does not include:
(A) A general examination for grammatical, typographical, or other similar errors;
(B) A general examination for completeness, including regulatory or client requirements as specified in the agreement process that does not communicate an opinion of value.
​
Section 108(b) An appraisal management company registered in the District shall retain all records required to be maintained under this act for at least 5 years after the file is submitted to the appraisal management company or for at least 2 years after final disposition of any related judicial proceeding of which the appraisal management company is provided notice, whichever period expires later.
​
Delaware
State Regs Reference
​
Title 24 Chapter 40 pg 1/10 Effective June 11, 2013
DE AMC Application Certification #23 and #26
Helpful Links
​
https://delcode.delaware.gov/title24/c040/sc01/index.shtml
https://dprfiles.delaware.gov/realestateappraisers/RE_Appraiser_Management_Co.pdf
Appraisal review means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, but does not include an examination of an appraisal for grammatical, typographical or other similar errors that do not communicate an opinion related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value or compliance with USPAP.
23. Do you certify that the company has a system in place to review the work of all independent appraisers who are performing real property appraisal services for the company on a periodic basis to confirm that the services are being conducted in accordance USPAP.
#26 Do you certify that any and all employees of an appraisal management company that perform an appraisal review shall have demonstrated knowledge of the USPAP hold a valid appraiser license or certification in Delaware or any state?
Florida
State Regs Reference
​
Chapter 475 Part II - 475.6235(4)
475.611(3) Florida's Definition of appraisal review assignment
475.611(3)(f)
Helpful Links
​
"(4) At the time of filing an application for registration of an appraisal management company, each person listed in paragraph (2)(f) must sign a pledge to comply with applicable standards of professional practice established by rule of the board, including standards for the development or communication of a real estate appraisal, and must indicate in writing that she or he understands the types of misconduct for which disciplinary proceedings may be initiated
3. “Appraisal review assignment” denotes an engagement for which an appraiser is employed or retained to develop and communicate an opinion about the quality of another appraiser’s appraisal, appraisal report, or work. An appraisal review may or may not contain the reviewing appraiser’s opinion of value.
3(f) “Appraisal review” means the act or process of developing and communicating an opinion about the quality of another appraiser’s appraisal, appraisal report, or work."
Georgia
State Regs Reference
​
H.B. 1050 Section
4(b)(2)(H)
5(b.1)
Section 7(c)(3)
Helpful Links
​
http://www.legis.ga.gov/Legislation/20092010/107431.pdf
​
https://law.justia.com/codes/georgia/2019/title-43/chapter-39a/section-43-39a-14-1/
4(b)(2)(H)
A certification that the entity has a system in place to review the work of all appraisers who are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with the standards for real estate appraisals established by the board
(b.1) Any employee or independent contractor of an appraisal management company who performs appraisal review services must be an individual who holds a valid appraiser license or certification issued pursuant to this chapter
7(c)(3) Has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals for the appraisal management company to validate that the appraisals are being conducted in accordance with the standards for real estate appraisals established by the board;"
Hawaii
State Regs Reference
​
23-01, SUNSET EVALUATION: REGULATION OF APPRAISAL MANAGEMENT COMPANIES
Helpful Links
​
Effective June 30, 2023, Hawaii is no longer regulating AMCs. The Professional & Vocational Licensing Division just posted a notice and FAQs regarding the AMC Program Repeal.
Idaho
State Regs Reference
​
TITLE 54 PROFESSIONS, VOCATIONS, AND BUSINESSES CHAPTER 41
54-4104(4)
54-4105(A) and 54-4129
54-4124(6)
Helpful Links
​
https://legislature.idaho.gov/wp-content/uploads/statutesrules/idstat/Title54/T54CH41.pdf
54-4104(4) Appraisal review means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review assignment. The term does not include: (a) A general examination of an appraisal for grammatical, typographical, mathematical or other similar administrative errors; and (b) A general examination for completeness, including regulatory or client requirements as specified in the agreement process that do not involve the appraiser's professional judgment, including compliance with the elements of the client's statement of work.
APPRAISAL REVIEW. Any person who performs an appraisal review shall be licensed or certified by the board or by another state, provided that if a value opinion is provided, the person must be licensed by the board. A person performing a review that does not fall under the definition of an appraisal review is not required to be certified or licensed in any state.
54-4124(6) Each appraisal management company seeking to be registered or to renew an existing registration in this state shall certify to the board in a form prescribed by the board upon registration and renewal that it has a system in place to periodically review the work of appraisers who have performed appraisals for the appraisal management company to verify that the appraisals are being conducted in accordance with USPAP
State Regs Reference
​
Section 1452.130 Appraisal Review; Quality Control Review
225 ILCS 459/40(a)(7)
Helpful Links
​
https://www.ilga.gov/commission/jcar/admincode/068/06801452sections.html
https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=3386&ChapterID=24
Appraisal reviewers must hold an appropriate Illinois appraisal license in order to develop and communicate any review that is not limited to a quality control review.
(7) a certification that the applicant has a system in place utilizing a licensed Illinois appraiser to review the work of all employed and independent appraisers that are performing real estate appraisal services in Illinois for the appraisal management company on a periodic basis, except for a quality control review, to verify that the real estate appraisal assignments are being conducted in accordance with USPAP;
Indiana
State Regs Reference
​
Appraisal Management Company General Information
Note: An individual who performs an appraisal review must hold a license or certificate under IC 25-34.1-3-8 * or a license as a real estate broker under IC 25-34.1.
Appraisals; Standards Compliance: An appraisal management company is responsible for ensuring an appraisal complies with standards established in the USPAP and by the board.
*Although it is not clear if a license is required in the state or not, since it references that state licensing regulations, Appraisal Aid requires a license in this state as a precautionary measure
Iowa
State Regs Reference
​
543E.8(2) / Pg. 7/23
543E.11(s) Pg. 10/23
Requires that appraisals provided or coordinated by the applicant comply with USPAP and has a system in place to monitor such compliance
An appraiser who on behalf of an AMC performs and appraisal review of an appraisal of a dwelling located in this state shall comply with the review provisions of USPAP, and shall be certified as an appraiser under the laws of any state, except that a review appraiser shall be certified under chapter 543D if such certification is required by any applicable state or federal law, rule or regulation or to the extent the review appraiser provides the review appraiser's own opinion of value, concurs with the original appraiser's opinion of value, or disagrees with the original appraiser's opinion of value.
Kansas
State Regs Reference
​
Registration Act 58-4703(f) - Definition of Appraisal Review
KS Act 58-4704(a)(8)
KS Act 58-4711(b)
KS Act 58-4712
KS Act 58-4716
From renewal application
Helpful Links
http://kslegislature.org/li_2014/b2013_14/statute/058_000_0000_chapter/058_047_0000_article/
https://www.kansas.gov/kreab/pdf/AMC/2020%20Renewal%20Application%20generic.pdf
Appraisal review means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions of value, conclusions, estimate of value, or compliance with the uniform standards of professional appraisal practice.
58-4704(a)(8) a certification that the entity has a system in place to review an amount or percentage of the appraisal reports submitted by each appraiser who is performing real estate appraisal services for the AMC within Kansas as specified in rules and regulations of the board on an annual basis to validate that the real estate appraisal services are being conducted in accordance with USPAP and the state certified and licensed real estate appraisers act and the regulations adopted thereunder, pursuant to K.S.A. 2012 Supp. 58-4712, and amendments thereto;
58-4711(b)Any employee of, or independent contractor to, the AMC that performs an appraisal review for a property located in Kansas
58-4712Each AMC seeking to be registered or to renew a registration in this state shall certify to the board on an annual basis on a form prescribed by the board that such AMC has a system in place to perform an appraisal review on a number or percentage of the appraisal reports submitted by each appraiser who is performing appraisals for such AMC on a periodic basis as specified in rules and regulations of the board to validate that the appraisals are being conducted in accordance with:(a) The USPAP; and (b) the state certified and licensed real property appraisers act and the regulations adopted thereunder.
58-4716 fail to report to the board the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP;
Renewal - C. During the period of registration, has the applicant AMC performed an appraisal review on at least 5% of all appraisal reports submitted by appraisers performing real estate appraisal services for the AMC within Kansas on an annual basis?
Kentucky
State Regs Reference
KY AMC Renewal Application
324A.158 Prohibitions against certain conduct by registrants.
Helpful Links
​
https://kreab.ky.gov/new_docs.aspx?cat=43&menuid=53
​
https://apps.legislature.ky.gov/law/kar/titles/201/030/330/
​
​
Certification 3. I certify that this Appraisal Management Company has a system in place to review the work of all independent appraisers that are performing real estate appraisal services for the appraisal management company on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP.
Section 5(9) - A registrant shall require that if an appraisal report prepared by a KY licensed or certified real property appraiser is reviewed by a state licensed or certified real property appraiser the review appraisal shall also be licensed or certified by the KY REAB
Louisiana
State Regs Reference
§3415.2. Definitions
§3415.3. License required B(8) and C(1) and (2)
§3415.13. Adherence to standards; competency A
§3415.2. Definitions
(11) Administrative review, "compliance review", "quality check", or "QC" means a process that checks an appraisal report for compliance with the Uniform Standards of Professional Appraisal Practice* or other stipulated requirements.
(12) Appraisal review means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment. The term shall not include an examination of an appraisal for grammatical, typographical, mathematical, or other similar administrative errors that do not involve the appraiser's professional judgment, including compliance with the elements of the client's statement of work.
§3415.3. License required
(B)(8)Certification that the entity has a system in place to review the work on a periodic basis of all independent appraisers that are performing real estate appraisal services for the appraisal management company to ensure that the real estate appraisal services are being conducted in accordance with USPAP. pursuant to this Chapter.
C. (1) A person who performs an appraisal review for an appraisal management company shall be licensed or certified in Louisiana.
(2) An administrative review may be performed by any individual, including a certified appraiser.
§3415.13. Adherence to standards; competency
-
Each appraisal management company seeking to be licensed in this state shall certify to the board on an annual basis that it has a system in place to review on a periodic basis the work of all appraisers that are performing real estate appraisal services for the appraisal management company to ensure that the real estate appraisal services are being conducted in accordance with USPAP.
*Appraisal Aid's USPAP compliance reviews for LA were built to follow the guidelines of an administrative review and do not opine on the quality of the work under review or professional judgement. Expanded reviews are available if requested and would be performed by a LA certified appraiser.
Massachusetts
State Regs Reference
Acts 2019 Chapter 43 Section 279(b)(ii)
Section 281(iv)(B).
Helpful Links
https://www.mass.gov/doc/amc-registration-application-updated-august-2021/download
​
https://malegislature.gov/Laws/SessionLaws/Acts/2019/Chapter43
279(b)(ii)A certification that the applicant has a system in place to review the work of all real estate appraisers that are performing real estate appraisal services for the appraisal management company on a periodic basis to confirm that the real estate appraisal services are being conducted in accordance with USPAP.
Section 281(iv)(B). The management of the process of conducting appraisal reviews; provided, however, that an employee of an AMC or a contractor working on behalf of such company who has any involvement in the performance of an appraisal review of completed appraisals of real property located in the commonwealth shall be licensed or certified in the commonwealth and in good standing pursuant to sections 276 to 289, inclusive
Maryland
State Regs Reference
Ch. 269 § 16-5B-08
Ch. 269 § 16-5B-12
Helpful Links
§ 16-5B-08. Competency requirements (c) An employee of or independent contractor to the appraisal management company that performs an appraisal review on a property located in the State shall be an appraiser licensed or certified in the State
§ 16-5B-12. Duty to report compliance failures and violations. An AMC shall inform the Commission when the AMC has a reasonable basis to believe that: (1) an appraiser has: (i) failed to comply with the USPAP (2) the appraiser’s conduct under item (1) of this section is likely to affect the value assigned to the consumer’s principal dwelling
Maine
State Regs Reference
Title 32 Chapter 124-A
§14042-5 Definitions
§14049-C Appraisal review
§14049-H Mandatory reporting
Helpful Links
https://legislature.maine.gov/statutes/32/title32ch124-Asec0.html
https://legislature.maine.gov/statutes/32/title32sec14049.html
https://legislature.maine.gov/statutes/32/title32sec14049-H.html
§14042. Definitions
5. Appraisal review. "Appraisal review" means the act or process of developing and communicating an opinion about the quality of the work performed by an appraiser as part of an appraisal assignment, which may take into account the appraiser's data collection, analysis, opinions, conclusions, estimate of value or compliance with the Uniform Standards of Professional Appraisal Practice. "Appraisal review" does not include a quality control examination
§14049-C. Appraisal review - An employee of or independent contractor to an appraisal management company who performs an appraisal review for real property located in this State must be licensed under chapter 124.
§14049-H. Mandatory reporting - An appraisal management company that has a reasonable basis to believe an appraiser is failing to comply with the Uniform Standards of Professional Appraisal Practice in a manner that materially affects the conclusion of value contained in an appraisal report, is violating applicable laws or is otherwise engaging in unethical or unprofessional conduct shall refer the matter to the board.
Michigan
State Regs Reference
Occupational Code Act 299 of 1980 Chapter 339 Article 26A Section 339.2661 to 339.2677 is for AMC’s
Helpful Links
Section 339.2671(2) An appraisal management company shall ensure that any employee or independent contractor of the company who is responsible for completing standard 3 appraisal reviews, or who performs a standard 3 appraisal review, on its behalf has a valid license as a certified appraiser. As used in this subsection (a) Quality Control examination (b)Standard 3 Appraisal review
Section 339.2673 Ensuring certain system and process in place; annual certification by appraisal management company.
(2) An AMC licensed under this article shall certify to the department on an annual basis, on a form prescribed by the department, that it has a system in place to periodically review the work of appraisers who perform real estate appraisal services for it to verify that the real estate appraisal services are being conducted in accordance with USPAP.
Minnesota
State Regs Reference
2019 - 82C.02 DEFINITIONS Subd. 8
82C.03 LICENSING Subd. 5.(8)
82C.12 ADHERENCE TO STANDARDS.
Helpful Links
https://www.revisor.mn.gov/statutes/cite/82C - is for CHAPTER 82C. APPRAISAL MANAGEMENT COMPANIES
https://www.revisor.mn.gov/statutes/cite/82B is for REAL ESTATE APPRAISERS
Subd. 8.Appraisal review. “Appraisal review" means the act of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, except that an examination of an appraisal for grammatical, typographical, or other similar errors that do not make a substantive valuation change shall not be an appraisal review.
Subd. 5.(8) a certification that the entity has a system in place to review the work of all employed and independent appraisers that are performing real estate appraisal services for the AMC on a periodic basis to verify that the real estate appraisal assignments are being conducted in accordance with USPAP and chapter 82B;
82C.12 An AMC must have a system in place to review the work of all employed and independent appraisers that are performing real estate appraisal assignments for the appraisal management company on a periodic basis to verify that the real estate appraisal services are being conducted in accordance with USPAP and chapter 82B. An AMC is required to make referrals directly to state appraiser regulatory authorities when a state licensed or certified appraiser violates USPAP, applicable state law, or engages in other unethical or unprofessional conduct.
Mississippi
State Regs Reference
Title 73: Professions and Vocations Chapter 34: Real Estate Appraisers MS AMC Registration Act § 73-34-101 to § 73-34-131
Helpful Links
​
https://www.mab.ms.gov/license-law/
​
https://www.mab.ms.gov/wp-content/uploads/2023/11/MAB-2023-Statute-July-1-2023.pdf
​
​
§ 73-34-115
Any employee of, or independent contractor to, the AMC that performs a USPAP Standard 3 appraisal review of an appraisal report on property located in this state shall be an appraiser with the proper level of licensure in Mississippi. Quality control examinations are exempt from this requirement, as they are not considered a Standard 3 review.
Missouri
State Regs Reference
20 CSR 2245-10.010 to 10.040 Effective 11/30/2019
20 CSR 2245-10.010 AMC Application Requirements
(3) The initial application submitted by the AMC shall include the following certifications: Company Application Requirements
(B) That the AMC has in place a system to review the work of all appraisers performing appraisal services and that the services are conducted in compliance with USPAP.
20 CSR 2245-10.030 Renewal
(2) At the time of renewal, the AMC shall certify to the commission on the renewal form that—
(C) The AMC has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals for the AMC to validate the appraisals are being conducted in compliance with USPAP.
Montana
State Regs Reference
Montana Code Annotated 2019 – Title 37 Chapter 54 Part 5
37-54-506. Appraisal review. - An employee or independent contractor of the AMC that performs an appraisal review for a property located in this state: (1) must be an appraiser licensed or certified in this state; and (2) shall comply with the review provisions of USPAP.
37-54-507 Mandatory reporting.
An AMC that has a reasonable basis to believe an appraiser is failing to comply with USPAP, is violating applicable laws, or is otherwise engaging in unethical or unprofessional conduct shall refer the matter to the board.
North Carolina
State Regs Reference
2019 Chapter 93E North Carolina Appraisers Act Article 2 Real Estate Appraisal Management Companies
§ 93E-2-4.
NCAC > Title 21 - Occupational Licensing Boards and Commissions > Chapter 57 Subchapter D Appraisal Management Companies
Helpful Links
https://law.justia.com/codes/north-carolina/2022/chapter-93e/article-2/section-93e-2-4/
§ 93E-2-4. Qualifications for registration; duties of registrants.
(b) The registration required by subsection (a) of this section shall include the following information:
(9) A certification that the entity has a system in place to review the work of all independent appraisers that are performing real estate appraisal services for the AMC on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP.
(c) Any registrant having a good faith belief that a real estate appraiser licensed or certified in this State has violated applicable law or USPAP.
21 NCAC 57D .0306 APPRAISAL REVIEW
APPRAISAL REVIEW – An AMC shall review the work of all independent appraisers that are performing real estate appraisal services for the AMC to validate that the real estate appraisal services are being conducted in accordance with USPAP. AMC is not required to review all appraisals performed by each appraiser but may chose a representative sample of each appraiser's reports. An AMC must review each appraiser's work at least once a year, and shall keep records of such reviews for a period of five years from the date they are done. Practice or engaged in unethical conduct shall promptly file a complaint with the Board
North Dakota
State Regs Reference
In declarations in application
43-23.5-12
Helpful Links
https://www.legis.nd.gov/cencode/t43c23-5.html
https://ndappraiserboard.org/uploads/3/5/4/5/35456267/amc_application_11-18.pdf
43-23.5-12 Appraisal Review:
Any employee of, or independent contractor to, the AMC that performs an appraisal review for a property located in this state must be: 1. A certified or licensed appraiser in good standing in this state; or 2. A certified or licensed appraiser in good standing in another state.
43-23.5-14.
AMC certification of appraisal review system. Each AMC seeking to be registered or to renew a registration in this state shall certify to the board on a form prescribed by the board that the company has a system in place to perform an appraisal review of the work product of a statistically significant number of appraisal reports submitted by independent appraisers performing appraisals for the appraisal management company on a periodic basis to validate that the appraisals are being conducted in accordance with USPAP and chapter 43-23.3, and the rules adopted under this chapter. An AMC shall report to the board the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP
43-23.5-20. Mandatory reporting.
An AMC that has a reasonable basis to believe an appraiser has failed to comply with applicable laws or rules or has substantially violated USPAP shall refer the matter to the board.
AMC Application
#8 The AMC seeking registration has a system in place to verify that any employee or independent contractor the AMC utilizes to perform an appraisal review on a completed appraisal on property located in North Dakota, be licensed or certified with the same or higher qualifications required to perform the appraisal being reviewed and holding a permit in good standing in North Dakota.
9. If the AMC finds there is reasonable basis to believe an appraiser is failing to comply with the USPAP, is violating applicable laws or rules, or is otherwise engaging in unethical or unprofessional conduct, the AMC shall file an allegation with the Board;
*Due to the conflicting verbiage in 43-23.5-12 and within the Application, Appraisal Aid is requiring reviewers to be licensed in the state
Nebraska
State Regs Reference
§ 76-3210. Compliance with Rel Property Appraiser Act
Helpful Link
​
76-3210 Any employee of or independent contractor to an AMC that holds a registration, including any AMC appraiser included on an AMC’s appraiser panel engaged in real property appraisal practice, shall comply with the Real Property Appraiser Act, including USPAP.
​
Nevada
State Regs Reference
Chapter C – Appraisers of Real Estate and AMCs
NRS 645C
645C.650(2)(c)(2)
On AMC application
Helpful Links
https://www.leg.state.nv.us/nrs/NRS-645C.html
http://red.nv.gov/uploadedFiles/rednvgov/Content/Forms/571.pdf
(c) The applicant certifies that he or she (2) Has a process in place to review the work of each independent contractor that provides services to the appraisal management company to ensure that those services are conducted in accordance with the USPAP.
REVIEW PROCEDURES: Attach your written procedure which sets forth the company’s process review the work of each independent contractor who provides services to your company for property located in the State of Nevada to ensure those services are conducted in accordance with USPAP. The required review must be completed by a person who is a licensed or certified appraiser in the State of Nevada.
New Hampshire
State Regs Reference
310-B:12-i Appraisal Management Company; Appraisal Review.
NH AMC application
Helpful Links
http://www.gencourt.state.nh.us/rsa/html/NHTOC/NHTOC-XXX-310-B.htm
https://www.oplc.nh.gov/real-estate-appraisers/documents/amc-application-2020.pdf
310-B:12-i AMC; Appraisal Review. – Any employee of, or independent contractor to, an appraisal management company that performs a USPAP Standard 3 review of an appraisal report on property located in this state shall be an appraiser with the proper level of licensure issued by the board. Quality control examinations are exempt from this requirement as they are not considered a Standard 3 review.
310-B:12-j Appraisal Management Company; Adherence to Standards. - I. Each AMC seeking to be registered in this state shall certify to the board on an annual basis that it requires appraisers completing appraisals at its request to comply with USPAP including the requirements for geographic and product competence.
​
New Jersey
State Regs Reference
New Jersey Administrative Code Title 13 Chapter 40A Subchapter 9 AMCs – starts pg. 47/63 of the PDF
Helpful Links
https://www.njconsumeraffairs.gov/regulations/Chapter-40A-State-Board-of-Real-Estate-Appraisers.pdf
https://www.njconsumeraffairs.gov/Statutes/realestateappraiserslaw.pdf
13:40A-9.2 DEFINITIONS - Pg. 50/63
“Appraisal review” means the act or process of developing and communicating an opinion about the quality of another appraiser’s work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with USPAP.
45:14F-39. Licensure - pg. 23/27
An employee of, or independent contractor to, an AMC that performs a USPAP Standard 3 review of an appraisal report on property located in this State shall be an appraiser with the proper level of licensure, as prescribed pursuant to P.L.1991, c.68 (C.45:14F-1 et seq.). The provisions of this section shall not apply to any individual conducting an Administrative Quality Control Examination.
45:14F-46. Removal of appraiser from panel.
Any act of a State certified or licensed real estate appraiser, which constitutes a material violation of USPAP in the process described in this section, shall be considered prima facie evidence of a violation of the ethics requirements under USPAP. A material violation, for the purposes of this section, is one that is likely to affect the value estimated in any appraisal utilized in this section, or any other act that reflects on the professional conduct of the appraiser; however, the board shall not be involved in contractual disputes between an AMC and an individual appraiser
45:14F-47. Notification to board relative to material violation. a. An AMC shall inform the board when the AMC has a reasonable basis to believe that an appraiser has committed a material violation of:(1)USPAP;(2) applicable laws; or (3) ethical or professional conduct.
New Mexico
State Regs Reference
Article 14 Appraisal Management Registration
§ 47-14-3. Registration required
§ 47-14-12. Employee requirements
§ 47-14-15. Adherence to standards
Title 16 Chapter 65 Part 2 AMC Registration Requirements
16.65.2.11 EMPLOYEE IN CHARGE (EIC) REGISTRATION REQUIREMENTS
Helpful Links
47-14-3. Registration required
C. The registration required by Subsection A of this section shall include:
(8) a certification that the entity seeking registration has a system in place to review, on a periodic basis, the work of all independent appraisers that are performing real estate appraisal services for the AMC to ensure that the real estate appraisal services are being conducted in accordance with USPAP.
47-14-12. Employee requirements
A. Any employee of the AMC, or any person working on behalf of the AMC, that has the responsibility of selecting independent appraisers for the performance of real estate appraisal services for the AMC or the responsibility of reviewing completed appraisals shall have geographic and product competence and be appropriately trained and qualified in the performance of real estate appraisals as determined by the board by rule.
B. Any employee of the AMC that has the responsibility to review the work of independent appraisers shall have demonstrated knowledge of USPAP, as determined by the board by rule
47-14-15. Adherence to standards.
Each AMC seeking to be registered in this state shall certify to the board on an annual basis that it has a system in place to review the work of all independent appraisers that are performing real estate appraisal services for the AMC on a periodic basis to ensure that the real estate appraisal services are being conducted in accordance with USPAP.
16.65.2.11 (D)(2)(b) and (c) EMPLOYEE IN CHARGE (EIC) REGISTRATION REQUIREMENTS
(b) shall randomly select a statistically significant number, but not less than five percent, all fractions rounded up, of outsource appraisal reviews on appraisals completed within the renewal period;
(c) outsource appraisal reviews shall be completed by an appraiser that is certified or licensed in good standing within their state of licensure at a level that corresponds with or is higher than the level of licensure required to perform the appraisal.
*Since requirements differ for outsourced reviews and reviews performed by employees, both references have been included.
New York
State Regs Reference
Article 6-H Real Estate AMCs
§160-AAAA. Definitions 6. “Appraisal review” means the act or process of developing and communicating an opinion about the quality or another appraiser’s work that was performed as part of an appraisal assignment. Appraisal reviews must be performed by a person who is certified as a real estate appraiser pursuant to article 6-E of this chapter (6-E is for State Certified and Licensed Real Estate Appraisers)
§160-NNN Mandatory Reporting- An AMC that has a reasonable basis to believe an appraiser within the AMC’s appraisal panel is failing to comply with USPAP, is violating applicable laws, or is otherwise engaging in unethical or unprofessional conduct shall immediately refer such matter to the department.
Ohio
State Regs Reference
Ohio Revised Code Title 47 Chapter 4768: AMCs
4768.01 Definitions
4768.06 Applicants for AMC license
OH AMC Application Section 5 Certification
Helpful Links
​
http://codes.ohio.gov/orc/4768
https://www.com.ohio.gov/documents/real_AppraisalManagementCompanyApplication.pdf
4768.01
(D) "Appraisal report" means a written communication of a real estate appraisal or appraisal review or an oral communication of a real estate appraisal or appraisal review that is documented by a writing that supports the oral communication.
(E) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal or appraisal review. "Appraisal review" does not include an examination of an appraisal for grammatical errors, typographical errors, or completeness, provided the review for completeness does not require an opinion about the quality of the work of an appraiser. The real estate appraiser board may define, by rule, "review for completeness.
4768.06 (10) A statement that the applicant acknowledges that a system or process must be in place to review the work of appraisers who are performing real estate appraisal services for compliance with USPAP (also in application)
Oklahoma
State Regs Reference
§ 858-803 Definitions As used in the Oklahoma AMC Regulation Act: 6.
§ 858-804 Unlawful Acts – Application Requirements B 9.
§ 858-813 Appraisal Review for Appraiser Credentials
§ 858-816 Appraisal Management Company Certification of Appraisal Review System
§ 858-803(6). “Appraisal review” means the act or process of developing and communicating an opinion about the quality of another appraiser’s work that was performed as part of an appraisal assignment related to the appraiser’s data collection, analysis, opinions, conclusions, estimate of value, or compliance with USPAP. This term does not include: a. a general examination for grammatical, typographical or other similar errors, or b. a general examination for completeness including regulatory and/or client requirements as specified in the agreement process that does not communicate an opinion;
§ 858-804(9). A certification that the entity has a system in place to review the work of a statistically significant number of appraisal reports submitted by each appraiser who is performing real estate appraisal services for the AMC within Oklahoma on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP and the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder;
§ 858-813 Any employee of, or independent contractor to, the AMC that performs an appraisal review for a property located in Oklahoma shall be an appraiser credentialed in good standing in the State of Oklahoma.
§ 858-816 Each AMC seeking to be registered or to renew a registration in this state shall certify to the Oklahoma Real Estate Appraiser Board on a form prescribed by the Board on an annual basis that it has a system in place to perform an appraisal review of the work product of a statistically significant number of appraisal reports submitted by each appraiser who is performing appraisals for the AMC on a periodic basis to validate that the appraisals are being conducted in accordance with the USPAP and the Oklahoma Certified Real Estate Appraisers Act and the rules promulgated thereunder. An AMC shall report to the Board the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP.
Oregon
State Regs Reference
Chapter 674.200 to 674.250 is for AMCs
Chapter 161 Division 520 Registration Requirements for AMCs- 161-520-0010(4)(h)
Helpful Links
​
https://www.oregonlegislature.gov/bills_laws/ors/ors674.html
https://secure.sos.state.or.us/oard/viewSingleRule.action?ruleVrsnRsn=23312
674.220 Prohibited activities- (h) Allow a person to perform an appraisal review relating to a property located in this state if the person is not an appraiser with the licensure required to perform the appraisal review
161-520-0010(4)(h) That any employee of the AMC company that performs the act or process of developing and communicating a reviewer’s own opinion of value as part of the appraisal review for a property located in this state, is an Oregon licensed/certified real estate appraiser.
Pennsylvania
State Regs Reference
Act No 2012-4 H.B. No 398 Section 5(b)(5)(ii)
Act No 2012-4 H.B. No 398 Section 7(a) (1 and 2)
§ 36.404. Contents of Application (b)(2)
​
§ 36.431 Standards of Practice
Helpful Links
​
​
​
​
​
Section 5(b)(5)(ii)- Has a system in place for the performance of appraisal reviews with respect to the work of all appraisers that are performing appraisals for the applicant of property located in this Commonwealth to determine whether the appraisals are being conducted in conformance with the minimum standards under REACA both on a periodic basis and whenever requested by a client.
Section 7(a) Conduct of reviews.--All appraisal reviews in this Commonwealth must be conducted for an AMC by: (1) a certified appraiser in good standing in this Commonwealth; or (2) a certified or licensed appraiser in good standing in another state.
§ 36.404. Content of application 7(b)(2) A system in place for the performance of appraisal reviews with respect to the work of appraisers who are performing appraisals for the applicant of property in this Commonwealth to determine if the appraisals are being conducted in conformance with the minimum standards under REACA, both on a periodic basis and upon request of a client. This provision does not prohibit the parties (the AMC and the client) from including in their contract terms relating to requests for appraisal reviews.
§ 36.431. Compliance with USPAP - (b) An appraisal management company shall establish a system to review appraisal assignments which is reasonably calculated to assure compliance with USPAP by appraisers
Rhode Island
State Regs Reference
§ 5-20.9-2. Real Estate AMC Registration Act- Definitions.
230-RICR-30-20-3 – Standards and Procedures for AMCs (no verbiage included but link included for reference)
Application states
Helpful Links
​
http://webserver.rilin.state.ri.us/statutes/title5/5-20.9/INDEX.HTM
https://rules.sos.ri.gov/regulations/part/230-30-20-3
https://dbr.ri.gov/documents/divisions/commlicensing/realestateappraisers/AMC_Application.pdf
(3) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, opinion of value, or compliance with USPAP.
Certification - 5b. To periodically perform quality assurance reviews of independent fee appraisers’ work to ensure compliance with USPAP 5f. To ensure that any employee who has the responsibility to review the work of an independent fee appraiser has a current USPAP certification.
South Carolina
State Regs Reference
SECTION 40-60-320. Definitions
SECTION 40-60-330. Registration; requirements
SECTION 40-60-390. Requirements for employees and independent contractors of AMCs
SECTION 40-60-400 Certification or licensure required for employees and independent contractors.
Section 40-60-320.
(4) 'Appraisal review' means the act, by a certified or licensed appraiser employed by an appraisal management company, of developing and communicating an opinion about the quality of work of another appraiser that was performed as part of an appraisal assignment. Appraisal review does not include: (a) an examination by an unlicensed employee of an AMC for an appraisal solely for grammatical errors, typographical errors, or other similar errors; or (b) a quality control examination for completeness that does not make a valuation change.
Section 40-60-330.
(8) certification that the applicant has a system in place to review the work of all certified or licensed appraisers who are independent contractors and perform real estate appraisal services for the AMC on a periodic basis to validate that the real estate appraisal services are being conducted pursuant to USPAP.
Section 40-60-390.
(A) An employee of the AMC who is responsible for performing appraisal reviews of certified or licensed appraisers, who are independent contractors, must demonstrate knowledge of the USPAP as determined by the board.
Section 40-60-400. An employee, or independent contractor of, the appraisal management company must be an appraiser certified or licensed in this State to perform a USPAP Standard 3 appraisal review of property located in this State.
South Dakota
State Regs Reference
Codified Law 36-21D AMCs
Administrative Rules for AMCs Rule Article 20:77
Information Link for AMCs
Helpful Links
​
https://sdlegislature.gov/#/Statutes/Codified_Laws/2060794
https://sdlegislature.gov/#/Rules/Administrative/31908
SD Codified Law 36-21D
36-21D-2(4) Review and verify the work of appraisers for compliance with USPAP.
Administrative Rule of SD
20:77:01:02. Appraisal review. "Appraisal review," is an act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with USPAP The term does not include a general examination for grammatical, typographical or other similar errors, or a general examination for completeness including regulatory, or client requirements or both as specified in the agreement process that does not communicate an opinion.
20:77:05:01. Responsibilities and duties (3) Have a system in place to select for review a representative sample of each utilized appraiser's reports who perform appraisal services for the appraisal management company to validate with a uniform standards, Standard 3 and 4, appraisal review the appraisal services are conducted in compliance with the uniform standards; (4) Have a system in place to verify that any employee of, or independent contractor to, the AMC that is utilized to perform a uniform standards, Standard 3 and 4, appraisal review, of the work of utilized appraisers who perform an appraisal assignment for a property located in South Dakota, be licensed or certified and in good standing by this state and conducts the appraisal review in compliance with USPAP.
Tennessee
State Regs Reference
2021 Tennessee Code Title 62 Chapter 39 Part 4
§ 62-39-403
(b)(8) A certification that the entity has a system in place to review the work of all appraisers who are performing real estate appraisal services in Tennessee for the AMC on a periodic basis to validate that the real estate appraisal services are being conducted in accordance with USPAP, pursuant to § 62-39-416;
§ 62-39-403
An employee or independent contractor of the AMC who performs an appraisal review service on an appraisal done on real property located within Tennessee must be an individual who holds a license as defined in § 62-39-102 or certification as defined in § 62-39-102
§ 62-39-416
Each registered AMC shall certify to the commission on a biennial basis that it has a system in place to perform an appraisal review on a periodic basis of the work of all appraisers who are performing appraisals in Tennessee for the appraisal management company to validate that the appraisals are being conducted in accordance with USPAP. An AMC shall report to the commission the results of any appraisal reviews in which an appraisal is found to be substantially noncompliant with USPAP, state laws or federal laws pertaining to appraisals.
Texas
State Regs Reference
Texas Administrative Code Title 22 Part 8 Chapter 159 Section 155 – Periodic Review of Appraisals - Revised 12/03/2023
Helpful Links
https://www.talcb.texas.gov/agency-information/rules-and-laws/talcb-rules
​
https://www.talcb.texas.gov/agency-information/rules-and-laws
​
​
§159.155 Periodic Review of Appraisals
(a) A license holder must have a written policy reflecting a process and controls in place to periodically review the work of appraisers performing appraisal services on 1-4 family unit properties collateralizing mortgage obligations by performing a review in accordance with Standards 3 and 4 of USPAP
(b)In accordance with 1104.156 of the Occupations Code, upon request by the Board, a license holder shall produce a copy of the written policy and information demonstrating compliance with the policy.
(c)An appraiser is qualified to perform an appraisal review within the meaning of §1104.153 of the AMC Act if the appraiser conducting the review:
(1) is licensed or certified to act as an appraiser in Texas or another jurisdiction
(2) holds the appropriate credential to have performed the appraisal being reviewed; and
(3) does not develop an opinion of value. If the reviewer elects to develop an opinion of value within the review, the reviewer must be licensed or certified to act as an appraiser in Texas.
(d) To satisfy the requirements of the AMC Act and this rule, a license holder performing an appraisal review must perform a scope of work that is sufficient to ensure that methods, assumptions, data sources, and conclusions of the appraisal subject to review comply with USPAP.
Utah
State Regs Reference
Title 61 Chapter 2e – AMC Registration and Regulation Act
Utah Administration Code Rule R162-2e AMC Administrative Rules (Effective 01/01/2020)
61-2e-302 Adherence to standards.
(1) An AMC required to be registered under this chapter shall have a system in place to: (b) review the work of an appraiser who performs a real estate appraisal activity for the AMC on a periodic basis to ensure that a real estate appraisal activity is conducted in accordance with applicable appraisal standards;
61-2e-305 Employee requirements.
(b) For purposes of an individual described in Subsection (1) who reviews the work of an appraiser, to comply with this Subsection (2), the individual shall demonstrate knowledge of the applicable appraisal standards, as determined by rule made by the board, with the concurrence of the division, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
Rule R162-2e AMC Administrative Rules
R162-2e-305. Employee Requirements.
(2) An AMC seeking renewal of the company's registration shall demonstrate to the division that each person who selects an appraiser or reviews an appraiser's work for the AMC:
(a) is a licensed or certified appraiser in good standing
​
Vermont
State Regs Reference
Administrative Rules for AMCs Effective 08/11/2019
Real Estate Appraiser Statues, Rules and Resources (includes AMCs)
​
Helpful Links
https://sos.vermont.gov/media/zrdmawln/emerg-amc-rules-eff-2019-8-11.pdf
https://sos.vermont.gov/real-estate-appraisers/statutes-rules-resources/
§ 3320a. Appraisal management companies
(e) A registrant's employee reviewing finished appraisals shall be certified or licensed in good standing in one or more states and shall be certified at a level that corresponds with or is higher than the level of licensure required to perform the appraisal. (Added 2009, No. 103 (Adj. Sess.), § 45; amended 2013, No. 27, § 43.)
*Very little information regarding expectations, however, based on § 3320a for employees, Appraisal Aid does not require a VT reviewer to be licensed in the state and follows all other guidance noted.
Virginia
State Regs Reference
Code of Virginia Title 54.1 Chapters 20.1 and 20.2
§ 54.1-2011. Necessity for license.
§ 54.1-2021.1 AMCs; licensed required; posting of bond or letter of credit
Administrative Code Title 18 Agency 130 Chapter 20 Real Estate Appraiser Board Rules and Regulations
Administrative Code Title 18 Agency 130 Chapter 30 AMC Regulations
§ 54.1-2011. Necessity for license.
E. A corporation, partnership, or other business entity may provide appraisal services if each appraisal is prepared and signed by an individual licensed in accordance with this chapter and such corporation, partnership, or other business entity has registered with the Board. However, any appraisal management company that is required to be licensed under § 54.1-2021.1 shall not be required to have an additional license under this section.
§ 54.1-2020. Definitions
"Appraisal services" means acting as an appraiser to provide an appraisal or appraisal review
§ 54.1-2021.1. (B)(2)(i)
That the entity has a system in place to review the work of all appraisers that may perform appraisal services for the AMC on a periodic basis to ensure that the appraisal services are being conducted in accordance with USPAP.
18VAC130-30-160. Prohibited acts.
13. Failing to have a system in place to review the work of all appraisers who may perform appraisal services for the AMC on a periodic basis to ensure that the appraisal services are being conducted in conformance with USPAP.
15. Failing to have a system in place to ensure compliance with § 129E of the Truth in Lending Act (15 USC § 1601 et seq.). (Which includes the Final Interim Rule addressing Mandatory Reporting)
Washington
State Regs Reference
Chapter 18.310 RCW: AMCs
Chapter 308-409 WAC: AMCs
Chapter 18:235 RCW: Uniform regulation of business and profession act
18.310-110 Appraiser Requirements (3) Any employee of the AMC, or any contractor working in any capacity on behalf of the appraisal management company, that has any involvement in the actual performance of appraisal or appraisal review services, or review and analysis of completed appraisals must be a state licensed or state-certified appraiser in the state in which the property is located, and must have geographic * and product competence. This requirement does not apply to any review or examination of the appraisal for grammatical, typographical, or similar errors or general reviews of the appraisal for completeness.
*Appraisal Aid requires the reviewer to be licensed in the state and has product competence. The opinions and conclusions of the reviewer address the appraisal report’s compliance with USPAP and general quality factors. FAQ 336 was also looked to for guidance which states “If you are engaged to determine whether or not the appraisal report under review complies with certain guidelines or standards, geographic competence is not typically relevant. The Scope of Work is stated as such so it is clear that the reviewer has not done anything within the review that would overstep the boundaries of geographic competency. The Scope of Work is sufficient to develop credible assignment results.
West Virginia
State Regs Reference
West Virginia AMC Requirements Title 190 Series 5 – Requirements for Registration and Renewal of AMCs
Helpful Links
​
https://appraiserboard.wv.gov/api/documents/view/A238AA83-D8D2-E811-B3F8-F496342E46EE
§190-5-8.3 Responsibilities and Duties of AMCs
An AMC is not required to review all appraisals performed by each appraiser, but may choose a representative sample of each appraiser’s reports.
8.3.a. An AMC is not required to review all appraisals performed by each appraiser, but may choose a representative sample of each appraiser’s reports.
8.3.b. An AMC shall review each appraiser’s work at least once a year and shall keep records of such reviews for a period of five (5) years from the date they are done.
8.3.c. Any employee or independent contractor appraiser of an appraisal management company that performs an appraisal review shall:
8.3.c.1. Be licensed in this state or any state;
8.3.c.2. At a minimum hold the same certification level for the property type as the appraiser who performed the appraisal;
8.3.c.3. Verify the work of the appraisers performing appraisals for the appraisal management company is being conducted in accordance with the minimum USPAP standards;
8.3.c.4. Inform the board, when there is reasonable belief, that an appraiser is in violation of the laws, rules, or uniform standards regarding appraisers, including but not limited to grounds for disciplinary action as prescribed in W. Va. Code § 30-38-12."
Wisconson
State Regs Reference
WI Chapter 458 Subchapter III – Real Estate AMCs
458.35 Limitations.
458.37 Appraiser competency
AMC Additional resources
Application PDF
458.31(3) a and b
(3) (a) Except as provided in par. (b), “appraisal review" means the process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment or appraisal review assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value, or compliance with the USPAP described in s. 458.24. (b) “Appraisal review" does not include any of the following 2. A general examination for completeness, including regulatory or client requirements as specified in the agreement process, that does not communicate an opinion of value.
458.35 Limitations.
(1) No licensed AMC may do any of the following: (a) Contract with an appraiser for the performance of an appraisal service unless the appraiser is a certified appraiser or licensed appraiser.
458.37 Appraiser competency
(1) (a) Before assigning an appraisal service to an appraiser, a licensed AMC shall verify that the appraiser has the requisite license or certification, education, expertise, experience, and competency necessary to complete the appraisal assignment for the particular market and property type in accordance with USPAP described under s. 458.24, and that the independent appraiser is a certified appraiser or licensed appraiser in good standing with the board.
(5) Before assigning to an appraiser an appraisal review of an appraisal of a subject property located in this state, a licensed AMC shall verify that the appraiser performing the appraisal review holds a current appraiser license or certificate in this state that is at least equivalent to the license or certificate initially required for the subject property.
On the Certification section of the application:
1) That the applicant has in place a system to verify that each independent appraiser on the applicant’s appraiser panel and any other appraiser that may perform an appraisal service for the applicant is a certified appraiser or licensed appraiser. 2. That the applicant requires all appraisers performing appraisal services for the applicant to perform appraisal services in accordance with USPAP described under Wis. Stat. § 458.24
*Due to Definitions considering USPAP reviews an appraisal review and then the reference in several places and then states the appraiser performing the appraisal review be licensed or certified in the state, Appraisal Aid is requiring reviewers to be licensed in the state as a precautionary measure.
Wyoming
State Regs Reference
2019 Wyoming Statutes Title 33 Chapter 39 Article 2 – AMC Registration and Regulation Act
33-39-202.Definitions
33-39-212. Employee requirements.
33-39-215. Adherence to standards.
33-39-202. Definitions.
(v) "Appraisal review" means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value or compliance with USPAP .
33-39-212. Employee requirements.
(b) Any employee of or any person working on behalf of the AMC that performs an appraisal review of an appraisal of a parcel of real property in this state shall hold a valid appraiser certificate in this state.
33-39-215. Adherence to standards.
(a) Each AMC shall certify to the board on an annual basis that:(i) It has a system in place to review the work of all independent appraisers who are performing real estate appraisal services for the AMC on a periodic basis to verify that the real estate appraisal services are being conducted in accordance with USPAP; and (ii) It requires all appraisers to have required competency to perform real estate appraisal services as provided in the applicable edition of the USPAP for the appraisal being assigned."