| THE OFFICIAL SITE OF THE FLORIDA DEPARTMENT OF BUSINESS & PROFESSIONAL REGULATION |
 |
|
|
|
 |
| |
9:29:54 PM 7/26/2024 |
|
Application for Registering An Appraisal Management Company (FREAB 1)
F.S. 475.611(1)(c) states in part, an Appraisal Management Company must oversee an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state, or 25 or more state-certified or state-licensed appraisers in two or more states. Only appraisal management companies that meet the definition qualify for registration and reporting to the National Registry of the Appraisal Subcommittee.
(i) Appraisal Panel - means a network, list, or roster of licensed or certified appraisers approved by an appraisal management company to perform appraisals as independent contractors for the appraisal management company. An appraiser is an independent contractor for purposes of this paragraph if the appraiser is treated as an independent contractor by the appraisal management company for federal income tax purposes.
The term appraiser panel includes:
1. Appraisers accepted by the appraisal management company for consideration for future appraisal assignments in covered transactions or secondary mortgage market participants in connection with covered transactions.
2. Appraisers employed by, contracted with, or otherwise retained by the appraisal management company to perform one or more appraisals in covered transactions or for secondary mortgage market participants in connection with covered transactions.
| Application Requirements: |
| |
Required to Register: Individuals listed as Authorized Representatives -
Any person who possesses the authority, directly or indirectly, to direct the management or policies of the appraisal management company, whether through ownership, by contract, or otherwise, including, but not limited to: 1. All officers and directors, if the appraisal management company is a corporation. 2. All managers or managing members if the appraisal management company is a limited liability company. 3. All partners if the appraisal management company is a partnership. 4. The members if the appraisal management company is a business entity other than those described above. - Authorized Representative: If you are an Authorized Representative as defined above, then you will be required to complete the Background Questionnaire and submit electronic fingerprints to determine if you are eligible. A Background Questionnaire and electronic fingerprints are required for each Authorized Representative with the Appraisal Management Company. The application for Appraisal Management Company will not be approved until all background questionnaires and fingerprint results are received and reviewed by the Florida Real Estate Appraisal Board.
FINGERPRINTS:
An applicant must have a background check as part of
the licensing process. You must submit your
fingerprints using a Livescan Service Provider registered with
FDLE immediately after submitting your
application for licensure. It may take up to five days for your fingerprint results to be
received by the Department after they are submitted to the Florida Department
of Law enforcement (FDLE). Please note
that the Florida Department of Law Enforcement requires that an application for
licensure should precede the submission of your fingerprints. To learn more
about fingerprinting, please visit our Fingerprinting webpage.
- Fees: Pay the required fee as provided in the application.
Register with Secretary of State, Division of Corps: Prior to filing the application for an Appraisal Management Company, the entity has to be registered with the Florida Secretary of State, Division of Corporations to do business in this state. Click here to visit their website. NOTE: Clicking the link will take you away from the Department of Business and Professional Regulation web page. Any questions you may have about the webpage should be directed to the Division of Corporations. Application: The application is only available in paper format at this time. Please go to the bottom of the requirement page and click on Printable Application. Registered Trainees: A Register Trainee Appraiser may not be an Authorized Representative of an Appraisal Management Company. S.475.6221(3), Florida Statutes provides that a supervising certified appraiser may not be employed by a trainee or by a corporation, partnership, firm, or group in which the trainee has a controlling interest. For a complete reading of the statute, please click the section above. Company Owned AMC: If a company owns all or part of the Appraisal Management Company, list the name of the company followed by all authorized representatives of that company in section II of the application. MORE INFORMATION: Learn more about this profession's application requirements (use the back button or arrow to return to this page).
|
|
| If you have questions or need assistance in completing this application, please call the Customer Contact Center at 850.487.1395 or use our convenient contact form. |
|
| | |
|
|
:: Email: :: Customer Contact Center: 850.487.1395
The State of Florida is an AA/EEO employer. Copyright ©2023 Department of Business and Professional Regulation - State of Florida.
Under Florida law, email addresses are public records. If you do not want your email address released in response to a public-records request, do not send electronic mail to this entity. Instead, contact the office by phone or by traditional mail.
If you have any questions, please contact 850.487.1395. *Pursuant to Section 455.275(1), Florida Statutes, effective October 1, 2012, licensees licensed under Chapter 455, F.S. must provide the Department with an email address if they have one.
The emails provided may be used for official communication with the licensee. However email addresses are public record. If you do not wish to supply a personal address, please provide the Department with an email address which can be made available to the public.
Please see our page to determine if you are affected by this change.
|