Appraiser News
FREE PREVIEW
|
LOGIN OR SUBSCRIBE NOW TO READ THIS ARTICLE
|
Proposed AMC rules draw comments from across the industry
|
While the appraisal and mortgage lending industries are largely supportive of a proposed rule that would implement Dodd-Frank’s minimum requirements for state registration and supervision of appraisal management companies (AMCs), many individuals, companies and trade groups are concerned with certain definitions of the proposal and some of the challenges involved in the logistics of different state regulatory entities taking on registration and enforcement responsibilities.
That’s the consensus among the nearly six-dozen commenters who responded to a request for public comment on the proposal issued March 24 by the Office of the Comptroller of the Currency (OCC), the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC), the Consumer Financial Protection Bureau (CFPB), the Federal Housing Finance Agency (FHFA) and the National Credit Union Administration (NCUA). The six federal regulators gave the industry 60 days to comment on a proposed rule that would carry out Section 1473 of the Dodd-Frank Act and Section 1124 to Title XI of the Financial Institutions Reform, Recovery and Enforcement Act, and establish minimum requirements to be applied by states in the registration and supervision of AMCs.
TO READ THE FULL STORY
|
|
Already a subscriber?
Problems logging in?
Please call 330-659-6101 x 805 or email us for assistance.
|
|
Today's other top stories