The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC) announced a revised date for opening the National Registry of AMCs (AMC Registry).
The ASC now plans to open the AMC Registry to states on July 16, 2018. The previous target date was June 4, 2018. The ASC is issuing a revised Bulletin No. 2017-01 to state appraiser regulatory officials advising them of the revised open date for the AMC Registry.
“The ASC will open the AMC Registry to states no later than July 16, 2018. At that time, states that elect to register and supervise AMCs (participating states) will be able to enter AMCs on the AMC Registry if they have collected AMC registry fees in accordance with the Final Rule,” the bulletin stated.
“The ASC recognizes that participating states may need to amend their rules and/or regulations, or revise their operating procedures, to implement AMC registry fees. After June 4, 2020, any participating state’s compliance review will include review of requirements for entering AMCs on the AMC Registry. Up and until June 4, 2020, a state may have a compliant AMC Program regardless of whether it is ready to enter AMCs on the AMC Registry,” the bulletin further stated.
For further information, please contact James R. Park, executive director, at (202) 595-7575 or [email protected]; or Alice M. Ritter, general counsel, at (202) 595-7577 or [email protected].