N.M. Admin. Code § 16.62.1.14

Current through Register Vol. 35, No. 20, October 22, 2024

Section 16.62.1.14 - APPRAISAL MANAGEMENT COMPANIES

A. An appraiser may not perform an appraisal for an appraisal management company (AMC) unless that company is registered pursuant to the Appraisal Management Company Registration Act 47-14-1 NMSA 1978.

B. In the body of an appraisal report completed for an AMC, the appraiser must include:

(1) the required minimum information contained within the engagement letter as set forth in AMC 16.65.2.12 NMAC; a copy of the engagement letter will meet this requirement;

(2) any additional scope of work requirements.

C. An appraiser engaged with an AMC must provide the AMC with their combined reporting system (CRS) identification number.

N.M. Admin. Code § 16.62.1.14

16.62.1.14 NMAC - N, 8/21/2010; A, 1/16/2011