Contacting State Representatives

[Don Read]

Remember to use the salutation Representative rather than Mr. or Ms.

Put in “NC, General Assembly” into your search engine, http://www.ncga.state.nc.us/

Look along the right side of the page, for “Who Represents Me?”  Put in you zip code and 4 digit extension.  You can also find the Bill just above
that in “Find Bills By Number”  The Bill number is
SB829.  Please make sure you open edition 3.      

AMCs  - Appraisal Management Companies are not regulated, licensed, or even required to be registered in the State of NC.    They are the only
unregulated participant in a Real Estate transaction.

• AMC’s are considered “cash cows” by the banks that own them. However, none of the approximately 300 AMC’s pay revenue taxes, in the form of a tax
  return.

• The Senate Bill would require owners of AMC’s to have a background check and registering the company would provide the state with critical information
  needed to take action when necessary.

• AMC’s are negatively impacting the quality of appraisals and affect the overall  housing market.   As the quality of appraisals
  goes down,
  there is a high                      likelihood that these
  poorly conducted home valuations will further deteriorate the already
  weak
  housing market.

• The bill attempts to inject some sense of professionalism

They broadcast orders to hundreds of appraisers, lowest bid gets the order.

This is demeaning to the skilled and knowledgeable appraisers.

Unwillingly to work under such regimes, appraisers will leave the profession and the remaining appraisers will
be less qualified and experienced.

AMC’s do not produce a more accurate appraisal as promised.

The HVCC and in turn the AMC’s impede the mortgage process and add to the sluggish market and economy

 

• The Bill has Industry Support

North Carolina Professional Appraisers Coalition is in support

North Carolina Association of Realtors is in support

North Carolina Builders Association is in support

 

• Your expectations of your Representative is to Support the "Jenkins Bill"
• You and all the industry professionals will be watching to see how he /she votes