1. 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.

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

   1. (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. (2) any additional scope of work requirements.

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

   HISTORY OF 16.62.1 NMAC:

   Pre-NMAC Regulatory Filing History: The material in this part was derived from that previously filed with the State Records Center and Archives under:

   REAB Rule 1, Purpose of Rules; Office Location; Definitions, filed 11/29/90.

   REAB Rule 1, Amendment 1, Purpose of Rules; Office Location; Definitions, filed 8/18/92.

   Rule 1, Purpose of Rules; Office Location; Definitions, filed 4/6/93.

   Rule 1, Purpose of Rules; Office Location; Definitions, filed 1/28/94.

   Rule 1, Purpose of Rules; Office Location; Definitions, filed 10/2/95.

   REAB Rule 2, Standards of Professional Practice, Code of Professional Responsibility and Adoption of FIRREA, filed 11/29/90.

   Rule 2, Standards of Professional Practice, Code of Professional Responsibility and Adoption of FIRREA, filed 1/28/94.

   REAB Rule 18, Inspection of Board Records, filed 11/29/90.

   Rule 19, Inspection of Board Records, filed 4/6/93.

   Rule 19, Inspection of Board Records, filed 1/28/94.

   REAB Rule 20, Severability, filed 11/29/90.

   Rule 21, Severability, filed 4/6/93.

   Rule 22, Telephonic Attendance by Board Members, filed 8/2/95.

   History of Repealed Material: [RESERVED]

   Other History:

   Rule 1, Purpose of Rules; Office Location; Definitions (filed 10/2/95); Rule 2, Standards of Professional Practice, Code of Professional Responsibility and Adoption of FIRREA (filed 1/28/94); Rule 19, Inspection of Board Records (filed 1/28/94); Rule 21, Severability (filed 4/6/93); Rule 22, Telephonic Attendance by Board Members (filed 8/2/95) were all renumbered, reformatted and replaced by 16 NMAC 62.1, Real Estate Appraisers - General Provisions, effective 1/14/2000.

   16 NMAC 62.1, Real Estate Appraisers - General Provisions (filed 12/29/1999) was renumbered, reformatted, amended, and replaced by 16.62.1 NMAC, Real Estate Appraisers - General Provisions, effective 09/13/2004.

[16.62.1.14 NMAC - N, 08/21/2010; A, 01/16/2011]