An Appraisal Management Company is an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants, including affiliates, provides such services in connection with valuing a consumer’s real property as security for consumer credit transactions secured by a consumer’s principal dwelling, and within a given year, oversees an appraisal panel of more than fifteen appraisers working in New York State or twenty-five or more appraisers working in two or more states. A business that hires both appraisers as employees and engages appraisers as independent contractors shall only include the independent contractors during numerical calculation to determine if they meet the definition of an AMC for purposes of state registration. It is the responsibility of licensees to understand the Appraisal Management Company License Law.

Term of Licensure is two years.