Bill > S2696

This bill amends the General Laws of Massachusetts to establish a Board of Real Estate Appraisers and regulate the activities of Appraisal Management Companies (AMCs) operating in the state. Key provisions include: - Establishing a 9-member Board of Real Estate Appraisers appointed by the Governor to oversee AMCs and real estate appraisers. - Requiring AMCs to register with the Board and meet certain certification and reporting requirements, including verifying appraiser licenses, reviewing appraiser work, and maintaining records. - Prohibiting AMCs from engaging in activities that could unduly influence or coerce appraisers, such as threatening to withhold business or payment. - Granting the Board authority to investigate, fine, suspend or revoke the registration of AMCs that violate the law. - Empowering the Board to access records, conduct examinations, and take enforcement actions against AMCs. The goal of the bill is to ensure greater oversight and transparency in the real estate appraisal industry, particularly with regards to the practices of AMCs, in order to protect the integrity of the appraisal process.

https://malegislature.gov/Bills/190/S2696