The following are examples of actions that facilitate the removal of an appraiser from the MyAMC approved vendor panel. The following list is intended to provide examples of actions which warrant removal, but is not intended to be exhaustive.
- USPAP Violation
- AIR/Dodd-Frank Violation
- Breach of the MyAMC Appraiser Service Agreement
- Breach of AIR Compliance Agreement
- Violation of State Certification/Licensing Standards
- Failure to Follow Product Specification Guidelines
- Assignment on Investor Ineligible Rosters
- Improper or Illegal Conduct During Property Inspection
- Failure to Keep or Renew Errors and Omissions Insurance
- Failure to Keep or Renew Required Licenses
- Unprofessional Conduct Related to Appraisal Assignment
- Bona Fide and documented Administrative Failures
All information related to the removal of any appraiser is kept on file with MyAMC, LLC. Per Dodd-Frank/Interagency regulations, prompt written notice of appraiser removal will be sent to the appraiser along with written evidence of the cause for removal.
In addition to any applicable state mandated appeal process the appraiser will have 30 days from the date of the removal notice to submit a written appeal. The appeal, with supporting documentation, must be sent directly to the Managing Director of MyAMC, LLC at 14881 Quorum Drive, Suite 925, Dallas TX 75254-7589 for consideration. If no appeal is submitted within 30 days, the removal becomes final.