Starting July 3, 2015, pursuant to Senate Bill 1480 (Pages 5-10 & 12), Arizona Revised Statutes and the Arizona Administrative Code, the Arizona Department of Financial Institutions (AZDFI) will oversee the secure operation of Arizona’s Real Estate Appraisal Division. AZDFI will ensure the safety and soundness of the appraisal industry while overseeing compliance with state and applicable federal laws. AZDFI is responsible for administering state laws that regulate the appraisal industry which includes, registered trainee appraisers, licensed real estate appraisers, certified residential real estate appraisers, certified general real estate appraisers, designated supervisory appraisers, property tax agents, and appraisal management companies as well as the approval of appraisal education providers.
Notice to New Applicants
AZDFI also regulates financial institutions which includes banks, credit unions, trust companies, trust divisions and savings and loan associations and financial enterprises which includes, advance fee loan brokers, collection agencies, commercial mortgage brokers and bankers, consumer lenders, debt management companies, escrow agents, loan originators, money transmitters, mortgage brokers and bankers, premium finance companies, and sales finance companies.