Terms Used In Florida Statutes 475.621

  • Appraisal: A determination of property value.
  • Appraisal management company: means a person who, within a 12-month period, oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state, or 25 or more state-certified or state-licensed appraisers in two or more states, and who performs appraisal management services regardless of the use of the term "appraisal management company" "appraiser cooperative" "appraiser portal" "mortgage technology company" or other term. See Florida Statutes 475.611
  • Appraisal management services: means the coordination or management of appraisal services for compensation by:
  • Appraisal subcommittee: means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financial Institutions Examination Council Act of 1978 (12 U. See Florida Statutes 475.611
  • Appraiser: means any person who is a registered trainee real estate appraiser, a licensed real estate appraiser, or a certified real estate appraiser. See Florida Statutes 475.611
  • Board: means the Florida Real Estate Appraisal Board established under…. See Florida Statutes 475.611
  • Department: means the Department of Business and Professional Regulation. See Florida Statutes 475.611
  • Federally regulated appraisal management company: means an appraisal management company that is owned and controlled by an insured depository institution, as defined in 12 U. See Florida Statutes 475.611

(1) The department shall transmit to the appraisal subcommittee, at least annually, a roster listing individuals who hold a valid state license or certification as an appraiser. The department shall transmit to the appraisal subcommittee, at least annually, a roster listing individuals or companies that hold a valid state registration as an appraisal management company.
(2) The department shall collect from such individuals who perform or seek to perform appraisals in federally related transactions an annual fee as set by rule of, and transmitted to, the appraisal subcommittee. The department shall collect from such appraisal management companies that perform or seek to perform appraisal management services in covered transactions an annual fee set by rule of the board and transmitted to the appraisal subcommittee.
(3) Notwithstanding the prohibition against requiring registration of a federally regulated appraisal management company as provided in s. 475.6235(8)(b), the board shall establish a procedure to collect from a federally regulated appraisal management company an annual fee as set by rule of the board and transmitted to the appraisal subcommittee.