AR SB393

Amends Arkansas Code § 17-14-405(b)(6) to add new certification requirements for appraisal management companies seeking registration in Arkansas.

Requires appraisal management companies to verify that appraisers added to their panels hold valid licenses in good standing under the Arkansas Appraiser Licensing and Certification Act.

Mandates systems to review the work of independent appraisers on a periodic basis to ensure compliance with minimum reporting standards under § 17-14-202(b).

Requires appraisal management companies to establish systems verifying that appraisals are conducted independently and free from inappropriate influence and coercion in accordance with 15 U.S.C. § 1639e as of January 1, 2019.

Establishes requirements that appraisal management companies select qualified and independent appraisers and conduct services in accordance with federal standards and regulations as of January 1, 2019.