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AMC proposed rule draws comments, concerns from NAR
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National Association of Realtors (NAR) President Steve Brown has submitted a letter containing the agency’s comments and concerns to the minimum requirements for the registration and supervision of appraisal management companies (AMCs) that were proposed by six government agencies March 24.
The proposed minimum requirements — which would grant the state agencies that certify and license individual appraisers the same authority to oversee appraisal management companies — were jointly issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the Consumer Financial Protection Bureau, the Federal Housing Finance Agency and the National Credit Union Administration.
NAR expressed its concerns that the guidelines defining appraisal panels are restrictive and may hinder best practices.
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