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Appraisal Management Company License Application

License allows individuals or businesses to provide appraisal management services in New York State (NYS).

AVERAGE PROCESSING TIME

3-5 business days

SEE DETAILS

	
		

Overview

License allows an individual or business to provide appraisal management services in NYS. An appraisal management company must consist of at least sixteen appraisers in New York State or at least twenty five appraisers over multiple states, including New York, within a given year.

Requirements

  1. Federally regulated AMC’s are excluded from the registration requirement but required to report to the Department all panel members of the appraisal management company performing covered transactions as independent contractors
  2. Panel size of at least sixteen appraisers working only in New York State or twenty five or more appraisers working in two or more states, including New York State within a given year
  3. All owners/controlling persons must be identified on this application
  4. Business must name a designated controlling person who shall be the main contact for all communication between the Department and the appraisal management company
  5. All NYS panel members of the appraisal management company performing covered transactions as independent contractors must be currently licensed or certified by the Department of State and listed on this application
  6. Report AMC panel members to satisfy the ASC National Registry reporting requirements

How to Apply

  1. First time licensees may apply online
  2. Sign in or create a NY.gov account

WHAT YOU NEED TO APPLY:

  1. Federal Employer (FEIN) or Social Security Number (for individuals)
  2. Business information
  3. Designated controlling person information
  4. UID# for any previously issued or applied for appraisal management company license(s)
  5. Additional owner information (if applicable)
  6. Appraiser panel name, NYS appraiser license number and license expiration date

Required Fees

TYPE REFUNDABLE AMOUNT COMMENTS
License (Not Federally Regulated)No$250.00Fee is for license processing
License (Federally Regulated)No$0.00License (Federally Regulated)
Panel Appraiser FeeNo$25.00/AppraiserFee applied to each appraiser listed; no fee if federally regulated
National Registry FeeNo$25.00/AppraiserFee per appraiser who performed an appraisal in New York within the 12-month reporting period
Late Renewal FeeNo$100.00Fee for late renewals
Amendment FeeNo$10.00Fee for Business Name or Address Change
Amendment$0.00Person Name/Residence Address Change of Controlling Person
Amendment$0.00Contact Change: Business Contact Email Address, Business Phone Number
Charge Card (Visa or MasterCard accepted only)

Duration & Processing

Additional Info

This application requires an annual roster of appraiser panel members.

For additional information/Sponsor Agency:

State, Department of

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