Appraisal Management Company Registration Application (Page 10 of 10) in pdf

Appraisal Management Company Registration Application Page 10

APPLICATION CHECKLIST

$1,000 Application Fee

Notarized Application

Service of Process Form

Proof of 15 hour USPAP course for the EIC

$25,000.00 Surety Bond

Identify EIC, CP & Owner

NM State Tax ID #

LETTERS OF ENGAGEMENT to include the following:

o Registration Number

o NTTC

o Total fee that will be collected by the AMC for assignment

o Total amount that the AMC will retain from the fee charged, disclosed as dollar amount

o Appraiser completing report must disclose the following amount within the report:

1, Total compensation, stated as dollar amount, paid to the appraiser or to the appraiser’s employer

2, Total compensation retained by the AMC in connection with real estate appraisal activity, in

dollar amount

ach individual that owns, is an officer of, or has a greater than 10% financial interest in the AMC needs to

complete, sign and notarize an Authorization for Release of Information form for a state criminal history

background check. Each form should be accompanied by a fee in the amount of $15.00 made payable to New

Mexico Department of Public Safety.

The Authorization for Release of Information should be mailed DIRECTLY to:

New Mexico Department of Public Safety

Attn: Records

P.O. Box 1628

Santa Fe, NM 87504-1628

**ALL LICENSING INFORMATION PROVIDED IS PUBLIC INFORMATION

AUDITS

Upon renewal, ten (10) percent of AMC’s shall be subject to audit. Audited AMC’s shall be required to submit to the

board files for the twelve (12) month period prior to renewal and any other documentation the board requests. Any

costs incurred by the board during an audit may be attributed to the AMC.

Appraisal Management Company Registration Application

(Rev. 07/2015)

Appraisal Management Company Registration Application Page 10