New Mexico Administrative Code

The rules and regulations of the New Mexico real estate appraisers board are hereby incorporated by reference and shall govern all appraisals conducted pursuant the Appraisal Management Company Registration Act.

All real estate appraisal management companies registered and applying for registration with the board.

These rules are promulgated pursuant to the Appraisal Management Company Registration Act (NMSA 1978, Sections 47-14-1 through -23).

Permanent.

October 16, 2009, unless a later date is cited at the end of a section.

The objective of Part 1 is to set forth the provisions, which apply to all of Chapter 65, and to all persons affected or regulated by Chapter 65 of Title 16.

All words and terms defined in the Appraisal Management Company Registration Act have the same meaning in these rules. A. Terms starting with the letter 'A' are defined as follows: (1) "Act" means the Real Estate Appraisal Management Company Registration Act. (2) "Applicant" mean…

Except as protected by law, public records shall be available for inspection in accordance with the provisions of the Inspection of Public Records Act (IPRA), NMSA 1978, Sections 14-2-1 through -12, (1974, as amended through 2009). Cost will be determined by regulation and licens…

The provisions of these regulations are servable. If any part of the regulations is held invalid by a court of competent jurisdiction, the remaining provisions shall remain in force and effect, unless otherwise determined by a court of competent jurisdiction.

State of New Mexico Real Estate Appraisers Board.

In order to serve as a CP of an AMC, a designee shall: A. submit to a Criminal history background check: All applicants for initial issuance or reinstatement of a certificate and license in New Mexico shall be required to be fingerprinted to establish positive identification for …

In order to serve as the EIC for a registered AMC, a designee shall: A. not have had a license to practice as an appraiser refused, denied, canceled or revoked in this state or in any other state; B. submit to Criminal history background check: All applicants for initial issuance…

Prior to placing an assignment for real estate appraisal services, the AMC shall give the appraiser a written letter of engagement that shall include the following minimum requirements. The written letter may be in electronic format. A. An AMC must clearly indicate on each engage…

At the time of registration or renewal the board has the right to examine the books and records of an AMC operating in the state and require the AMC to submit reports, information, and documents to the state at any time after written notice has been sent to the EIC of the AMC. An…

All AMC's and designees shall have knowledge of the board rules, and by acceptance of registration shall agree to abide by these rules.

The Board's staff shall, as required by federal law, report all residential appraisal management companies to the AMC National Registry. For the purposes of this rule, "residential appraisal management company" means, in connection with valuing properties collateralizing mortgage…

A registrant shall notify the board in writing within 30 days after the registrant is notified of any denial, revocation, or suspension of its designation, registration, certificate, or license under any law of any jurisdiction, other than New Mexico, regulating appraisal managem…

All real estate appraisal management companies registered and applying for registration with the board.

These rules are promulgated pursuant to the AMC Registration Act (NMSA 1978, Sections 47-14-1 through -23).

Permanent.

October 16, 2009, unless a later date is cited at the end of a section.

The objective of Part 2 is to set forth the requirements for registration, which apply to all persons affected or regulated by Chapter 65 of Title 16.

Federally regulated financial institutions: An appraisal management company that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institution regulatory agency shall not be required to register with a state.

Each AMC applying to the board for registration shall: A. designate one controlling person (CP) that will submit to service of process; B. designate one employee in charge (EIC) that will be the main contact for all communication between the board and the AMC (CP may be designate…

A. An AMC applying forregistration may not be owned by a person or have anyprincipal of the company, who has had a license or certificate to practice as an appraiser refused, denied, canceled or revokedin this state or in any other state. B. Each person that owns, is an officer o…

State of New Mexico Real Estate Appraisers Board.

Incomplete applications will be returned to the applicant for supplementation of necessary documentation. All AMC's shall submit a renewal form on or before their expiration date. A. Renewals shall submit proof that the EIC has successfully completed an AQB approved seven hour US…

A. An expired registration may not be renewed on-line. To renew after the expiration date the registrant must contact the board office and request an official renewal form. B. An expired registration may be renewed within 30 days after expiration upon submission of an official re…

A. Changes of address: registrant shall report immediately to the board in writing any change of business address. Failure to do so within 30 days is grounds for registration suspension. B. Change of designees or ownership: registrant shall report immediately to the board in writ…

All real estate appraisal management companies registered and applying for registration with the board.

These rules are promulgated pursuant to the AMC Registration Act (NMSA 1978, Sections 47-14-1 through 23).

Permanent.

October 16, 2009, unless a later date is cited at the end of a section.

The objective of Part 3 is to set forth the provisions for registration, registration renewal and expiration of registration, which apply to all persons affected or regulated by Chapter 65 of Title 16.

[RESERVED]

Incomplete application and fees will be returned to the applicant for supplementation of necessary documentation. All applicants must submit the following documentation to the board: A. a completed application on a form prescribed by the board; B. registration fee as provided in …

All registrations shall expire on September 30 of each year. Applications for initial licensure are valid for one year from the date of receipt.

State of New Mexico Real Estate Appraisers Board.

All real estate appraisal management companies registered and applying for registration with the board.

These rules are promulgated pursuant to the Appraisal Management Company Registration Act (NMSA 1978, Sections 47-14-1 through 23).

Permanent.

October 16, 2009, unless a later date is cited at the end of a section.

The objective of Part 4 is to set forth the disciplinary provisions, which apply to all persons affected or regulated by the Appraisal Management Company Registration Act.

[Reserved]

A. The board may initiate disciplinary action upon: (1) complaint; (2) audit finding; (3) information that the applicant, registrant, exempt company, compliance person, or other key person is the subject of an order of the board or any other state appraisal management company reg…

hearings shall be conducted pursuant to the Uniform Licensing Act, NMSA 1978, Section 61-1-1 through -31.

State of New Mexico Real Estate Appraisers Board.