A chart to showing which states have elected to register and supervise appraisal management companies (AMCs) under a federal appraisal rule was published Monday by the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC), which oversees state appraisal programs. A look at the chart shows 36 states had opted in to participate, as of press time; 20 of those applied for a one-year extension, and seven have received preliminary approval for the extension.
The ASC will hold a special meeting Friday by teleconference on state extension requests.