Appraisal Management Company

In the course of doing business AMCs are asked to have a field review performed on an appraisal report that the AMC previously ordered from one of their panel members. Can those reviews be counted in the 5% required by TALCB rule?

Submitted by Christine Anderson on Wed, 2014-08-06 13:50

Yes. TALCB is not interested in the underlying reason for a review. Regardless of who requests the review and as long as the appraisal review is ordered through the AMC, the review may be counted in the 5% required by TALCB rule (22 Tex. Admin. Code § 159.155)

How can I get a list of Texas registered Appraisal Management Companies (AMC's)?

Submitted by Christine Anderson on Wed, 2014-08-06 13:49

A list of Appraisal Management Companies (AMC's) may be found on the website by searching for registered AMCs or by clicking here.

Can an AMC use the Fannie Mae Form 2000, or other industry related forms to conduct field reviews of one-unit residential appraisals?

Submitted by Christine Anderson on Wed, 2014-08-06 13:45

While the Fannie Mae Form 2000 is the most common form used for reviews by fee appraisers TALCB cannot endorse a particular form. If an AMC wants to use a Fannie Mae form or other available industry form, the AMC should ensure that the form complies with the TALCB rule requirements (22 Tex. Admin. Code § 159.155), including the appropriate scope of work.

AMCs sometimes receive assignments to review appraisal reports that were not ordered through the AMC. In this instance, it would appear that those reviews should be treated as report volume from which the 5% is randomly selected. Is this correct?

Submitted by Christine Anderson on Wed, 2014-08-06 13:42

No. A review of an appraisal report that was not ordered through the AMC does not count towards the 5% required by TALCB rule (22 Tex. Admin. Code § 159.155).