DE SB38

Licensed real estate appraisers are prohibited from appraising properties with market values exceeding $1,000,000; only certified residential or general certified appraisers may appraise higher-value properties

All new applicants for licensure or certification must submit fingerprints and undergo state and federal criminal background checks at their own expense

Creates a new regulatory framework requiring Appraisal Management Companies (AMCs) to register with the Council on Real Estate Appraisers, including a $20,000 surety bond requirement

AMCs are prohibited from influencing appraisers' valuations through coercion, withholding payment, or providing target values, and must pay appraisers within 45 days of receiving completed work

Establishes the Council's authority to issue non-disciplinary confidential letters of concern to licensees, with three such letters potentially triggering a formal competency assessment