Appraisal Management Companies

The Appraisal Management Company (“AMC”) National Registry is a database maintained by the Appraisal Subcommittee (“ASC”) containing certain information about registered AMCs and federally regulated AMCs as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The AMC National Registry is used by appraisers, Federal and State agencies, financial institutions, users of appraisal services, law enforcement, and consumers.

Yearly, each AMC registered in Utah will be contacted by the Division to initiate the annual reporting process and pay the associated fees. AMC’s will need to make sure their contact information is up-to-date with the Division, to ensure information can be delivered.

The reporting process will include determining if a company meets the federal definition of an appraisal management company and if so, paying the established fee as follows:

In the case of an AMC that has been in existence for more than a year, the fee will be $25 multiplied by the number of appraisers who have performed an appraisal for the appraisal management company in connection with a covered transaction in Utah during the previous calendar year.

In the case of an AMC that has not been in existence for more than a year, the fee will be $25 multiplied by the number of appraisers who have performed an appraisal for the AMC in connection with a covered transaction in Utah from the date the AMC commenced doing business through the last day of the same calendar year.

Each AMC registered in Utah will be required to complete the AMC Annual National Registry Reporting form and return it to the Division with the determined fees by May 31st of each year. Those that meet the requirements will become effective on the AMC National Registry from July 1st through June 30th of the next year. If a registered AMC, who is required to pay a national registry fee, fails to pay the annual registry fee, the Division may suspend or revoke the appraisal management company's registration.