DIGEST OF INTRODUCED BILL
Regulation of appraisal management companies. Requires appraisal management companies to register with the real estate appraiser licensure and certification board (board). Provides that the registration fee may not exceed $500. Requires an individual who conducts appraisal reviews for an appraisal management company to be a licensed or certified appraiser. Prohibits an appraisal management company from contracting with an appraiser to perform an appraisal of a property if the appraiser does not meet certain standards. Makes it a Class A infraction for a person to perform appraisal management services without a certificate or registration.