Appraisal Management Companies
REQUIREMENTS FOR LICENSE
32-3661. DEFINITIONS
2. "Appraisal management company" means a corporation, partnership, sole proprietorship, subsidiary or other business entity that directly or indirectly performs appraisal management services, regardless of the use of the term "appraisal management Company", "mortgage technology provider", "lender processing services", "lender services", "loan processor", "mortgage services", "real estate closing services provider", "settlement services provider", "vendor management company" or any other term, and that does any of the following:
(a) Administers an appraiser panel of independent contract appraisers to perform real property appraisal services in this state for clients.
(b) Receives requests for real property appraisal services from clients and, for a fee paid by the client, enters into an agreement with one or more independent independent appraisers to perform the real property appraisal services contained in the request.
(c) Otherwise serves as a third party liaison of appraisal management services between clients and appraisers.
FORMS AND FEES
| Description | Fees | Forms |
| AMC Initial Application/Renewal Application | $2,500 | |
| AMC Change of Address Form | $0.00 | |
| AMC Updates (Name Change, Owner/Officer Change,etc) ONLY | $0.00 | |
| AMC Checklist For Updates | $0.00 | |
| AMC Request For Letter Of History | $0.00 |
Laws, Rules & Substantive Policy Statements & Regulatory Alerts
CURRENT STATUTES FOR DEPARTMENT OF FINANCIAL INSTITUTIONS EFFECTIVE AUGUST 9, 2017
Statutory changes went into effect on August 9, 2017, aligning statutes for Appraisal, Appraisal Management Companies and Property Tax Agents with the Department of Financial Institutions. An attachment with a list of statutory changes for 2017 is provided below.
Three Sections of the Arizona State Revised Statutes provide the basis for regulation of various Financial Institutions and Enterprises. The following links take you directly to the Arizona State Legislative Website (www.azleg.gov) and the referenced ARS section.
ARS - Title 6 – Banks and Financial Institutions
ARS - Title 32 - Professions and Occupations
ARS - Title 44 – Trade and Commerce
