HI SCR41

Requests the Auditor to conduct a sunrise review of the regulation of real estate appraisal management companies

Finds that appraisal management companies perform important functions including appraisal review, quality control, market value dispute resolution, warranty administration, and record retention

Notes that the Legislature previously passed a similar resolution in 2009 requesting a sunrise review, which has not yet been completed by the Auditor

States that the appraisal industry itself has been the strongest proponent of regulation in Hawaii and across the United States

Recommends referral to the Committee on Ways and Means to enable the Legislature to enact needed regulations of the appraisal management industry