Product Updates May 2015

BankPolicies.com is providing you with these product updates as a courtesy to all of our clients. If you have any questions, please contact us.

Revised Policy Templates

The update to these products is in response to the Joint Release entitled “Minimum Requirements for Appraisal Management Companies” dated 04/30/15 that announced a final rule to implement the minimum requirements in the Dodd-Frank Wall Street Reform and Consumer Protection Act for the registration and supervision of appraisal management companies (AMCs). An AMC is an entity that meets the statutory appraiser panel threshold size and provides certain types of appraisal management services in connection with valuing a consumer’s principal dwelling as security for a consumer credit transaction or incorporating such transactions into securitizations.