Section Rab 308.01 - Appraisal Management Company Requirements(a) Appraisal management companies offering appraisal services in New Hampshire shall meet the requirements established pursuant to RSA 310-B:12-b through RSA 310-B:12-u.(b) Each appraisal management company shall designate one controlling person who is an employee of the appraisal management company that will be the designated contact for all communication between the board and the appraisal management company.(c) No appraisal management company applying for a certificate of registration shall: (1) Be owned by or employ any person to perform job functions related to the ordering, preparation, performance or review of appraisals who has had an appraiser license or certificate in this state or in any other state, refused, denied, cancelled, surrendered in lieu of revocation, or revoked, unless such license or certificate was subsequently granted or reinstated; and(2) Be more than 10 percent owned by a person who has been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal, banking, mortgage lending or the provision of financial services, or any crime involving fraud, misrepresentation or moral turpitude.(d) Applicants for appraisal management company registration shall provide, or cause to be provided, the following on or with a "Appraisal Management Company (AMC) Application for Practice in New Hampshire" form supplied by the board: (1) The applicant company's name, including any names previously used, and AMC number;(2) The fictitious name or names listed as doing business (dba) under which it does business in any state;(3) The applicant's business addresses, contact person(s), email address, and telephone numbers;(4) An indication as to whether the applicant is a single state or multi-state company;(5) The applicant's employer identification number (EIN);(6) The name and address of the company's agent if the person is not a corporation that is domiciled in this state, for service of process in this state;(7) The names, and addresses, of any individual or any corporation, partnership, or other business entity that owns 10 percent or more of the appraisal management company;(8) A statement indicating whether the company is more than 10 percent owned by a person who has been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal, banking, mortgage lending, or the provision of financial services, or any crime involving fraud, misrepresentation, or moral turpitude;(9) Name, address, and email address of one controlling person designated as the main contact for all communication between the appraisal management company and the board;(10) A statement indicating that the appraisal management company has a system and process in place to verify that an individual being added to the appraiser panel of the appraisal management company holds a license in good standing in this state;(11) A statement that the person requires appraisers completing appraisals at its request to comply with USPAP including the requirements for geographic and product competence;(12) A statement indicating that the person has a system in place to verify that only licensed or certified appraisers are used for federally related transactions;(13) A statement indicating that the person has a system or process to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under section 129E of the Truth in Lending Act, including the requirement that fee appraisers be compensated at a customary and reasonable rate when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer;(14) A statement indicating that the person maintains a detailed record of each service request that it receives and the appraiser that performs the residential real estate appraisal services for the appraisal management company;(15) A statement indicating the applicant gives permission to the board to examine books and records and to provide such records to the board upon request;(16) A statement that the applicant will only employ appraisers duly certified or licensed by the board to perform appraisals within the state, and that the applicant will verify such licensure prior to issuing an appraisal assignment;(17) A statement indicating whether the applicant is or ever has been subject to any disciplinary action taken by any other real estate appraisal licensing entity and, if so, a description of such action;(18) A statement indicating whether the entity for which the application is submitted has ever been convicted of a crime and, if so, a description of such conviction and copies of relevant court documents;(19) A statement indicating whether the entity for which the application is submitted has any criminal charges pending in any jurisdiction and, if so, a description of such charges and copies of the charging documents;(20) The applicant's dated signature;(21) If the appraisal management company is not domiciled in New Hampshire, an irrevocable uniform consent to service of process, required pursuant to RSA 310-B:12-d; and(22) The application fee specified in Rab 306.01.(e) Each applicant shall submit to the department of safety, division of state police, a notarized criminal record release authorization along with any required fee, with the board identified as the recipient of the record or records.(f) Applicants for appraisal management company registration shall be of good moral character, as evidenced by: (1) The past disciplinary history with this board of any individual that owns 10% or more of the appraisal management company. If the appraisal management company is wholly owned by another company, the past disciplinary history of the CEO or head of that company;(2) The answers to questions Rab 308.01(d)(17)-(19), as provided on the application form; and(3) Any criminal offender record reports obtained pursuant to (e) above.N.H. Admin. Code § Rab 308.01
Derived From Volume XXXIX Number 02, Filed January 10, 2019, Proposed by #12689, Effective 12/18/2018, Expires 12/18/2028.Amended by Volume XXXIX Number 32, Filed August 8, 2019, Proposed by #12826, Effective 7/18/2019, Expires 7/18/2029.