Board of Real Estate Appraisers - Licensing - Appraisal Management Companies

How to apply

Requirements

A license is required if the AMC provides appraisal management services to creditors or secondary mortgage
market participants with appraisers who are part of an appraiser panel that includes
more than 15 appraisers who are independent contractors;

Provides appraisal management services in connection with valuing a consumer's
principal dwelling as security for a consumer credit transaction or incorporating such
transactions into securitizations; and

Within a calendar year or a 12-month period established by board rule, oversees
an appraiser panel of more than 15 certified or licensed appraisers in one state or 25
or more certified or licensed appraisers in more than one state.

Please note: Under the terms of 10 M.R.S. § 8003-G(2) all licensees, including AMC licensees, are required to report to the Board any criminal conviction or disciplinary action taken within 10 days of the action.

Renewal fees and information

Requirements for Renewal

• A late fee of $50.00 is assessed for licenses renewed after December 31st.
• An applicant who submits an application for renewal more than 90 days after the license expiration date is subject to all requirements governing new applicants and is required to reapply with original license application, documentation and fees, except that, the Board may, at its discretion, waive the examination requirement for applicants applying for reinstatement within two years of the license expiration date.
• Renewal reminders are emailed to the email address on file at least 30 days prior to the license expiration date. It is the licensee's responsibility to keep the Board informed of current contact information and to see that the license is renewed absent the renewal application. Reminder includes licensee’s access code which, along with license number, is required for online renewal.

• Continuing Education: Not required for AMCs