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Agencies release AMC state registration proposal
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Six federal agencies unveiled a long-awaited proposal that would implement Dodd-Frank’s minimum requirements for state registration and supervision of appraisal management companies. Under the proposed rule, participating states would require that AMCs use only state-certified or licensed appraisers for federally related transactions. AMCs would also be required to establish processes designed to ensure that appraisals comply with the Truth in Lending Act’s appraisal independence standards. Read on for an in-depth look at the proposal.
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