Those that work for or manage an Appraisal Management Company (AMC) know firsthand how difficult it can be to remain compliant with the ever expanding set of state rules and regulations. This often time consuming process has not only dug into AMCs’ wallets, but has them feeling the pressure to avoid costly penalties that result in thousands of dollars of fines and/or the loss of a license.
At Global DMS, we took notice to this growing burden that many of our AMC clients are dealing with and decided to develop an application for eTrac® that would help them remain organized with their compliance initiatives. This new application is called AMC State Regulations, and gives users easy access to all the specific AMC requirements and regulations that are imposed by each state.
Acting as a database, this new app contains an up-to-date and accurate listing of registration requirements, bonding and disclosure requirements, fees, character reference needs, and processes for compliance. It will be continuously monitored to keep up with the latest AMC laws and regulations that get passed in each state, and as new states adopt official regulations, the information will be incorporated in to the AMC State Regulations app in real time.
Global DMS’ goal for this new app is to help our AMC customers remain compliant, as well as help them expand their businesses by letting them know the different AMC certification processes that need to be completed in each state.
The new AMC State Regulations app is now readily available for those that utilize our eTrac Enterprise package. For more information, please contact a Global DMS Sales Representative at 877-866-2747 (option 2) or firstname.lastname@example.org.