Letter from IDFPR addressing ICAP Concerns about AMC Requirements
2014 ICAP President Rich deVerdier, ICAP Member John VanSanten, and ICAP lobbyist Andy Rauchi met with Deputy General Counsel for IDFPR Mark Thompson and Illinois Appraisal Board Chair Lee Lansford in December. The discussion focused on six specific concerns ICAP had regarding existing AMC Requirements, and particularly the ramifications for appraisal firms required to register as AMC’s. In response to this meeting and these concerns, Mark Thompson issued an IDFPR Letter addressing ICAP concerns about AMC Requirements. Though ICAP recommended changes to the Appraisal Management Company Rules will not be made, the letter does provide much needed clarification regarding the concerns. Click here to see IDFPR Letter dated February 6, 2015.