{"id":2375,"date":"2017-04-09T21:40:16","date_gmt":"2017-04-09T21:40:16","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=2375"},"modified":"2017-04-13T06:15:05","modified_gmt":"2017-04-13T06:15:05","slug":"iowa-appraisal-management-company-surety-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/iowa-appraisal-management-company-surety-bond\/","title":{"rendered":"Iowa Appraisal Management Company Surety Bond"},"content":{"rendered":"<p>Effective January 1st, 2017 the State of Iowa has begun the regulation of appraisal management companies. Among other licensing qualifications and requirements, an AMC must also post an Iowa appraisal management company surety bond. The <a href=\"https:\/\/plb.iowa.gov\/forms\">Iowa Division of Banking<\/a> is the supervisory agency with which the bond must be filed. An &#8220;appraisal management company&#8221; under Iowa law is defined as &#8220;a person that\u00a0oversees an appraiser panel of more than fifteen certified\u00a0appraisers in this state or twenty-five or more certified\u00a0or licensed appraisers nationally within a year, and that\u00a0directly or indirectly performs appraisal management services\u00a0for creditors or secondary mortgage market participants in\u00a0connection with consumer credit transactions secured by the<br \/>\nprincipal dwellings of Iowa consumers or securitizations of\u00a0those transactions.&#8221; (<a href=\"https:\/\/www.legis.iowa.gov\/legislation\/BillBook?ga=86&amp;ba=HF2436\">House File 2436<\/a>). As in other states, parties affected by appraisal management companies voiced concerns about the integrity and independence of appraisers. As a result of these concerns, the state legislature responded with the the Iowa Appraisal Management Company Registration and Supervision Act&#8221;. The new law obligates an AMC to certain standards of conduct, record keeping requirements and causes for disciplinary action against a registrant.<\/p>\n<p>The Iowa appraisal management company surety bond must be written in the sum of $25,000 and issued by a <a href=\"https:\/\/suretyone.com\">surety company<\/a> licensed to do business in the state. The obligation states that the principal must\u00a0faithfully conform to and abide by the provisions of Iowa Code Chapters 543E and all applicable rules and\u00a0regulations, and must satisfy any liabilities, damages, losses, or claims arising out of the appraisal management services performed by the\u00a0appraisal management company involving real estate located in Iowa, suffered by the state of Iowa or any person(s) who may have a\u00a0cause of action against the principal. The form is non-cumulative and may be canceled by the surety upon thirty days notice from the same. The surety bond and license materials must be filed with the state as follows:<\/p>\n<p>Iowa Division of Banking<br \/>\nAppraisal Management Company Supervision<br \/>\n200 E. Grand Avenue, Suite 350<br \/>\nDes Moines, IA 50309<\/p>\n<p><strong>Iowa\u00a0surety leader<\/strong>, <a href=\"https:\/\/suretyone.com\/\" target=\"_blank\">Surety One, Inc.<\/a> is a specialist in the bonding needs of the property appraisal, real estate and financial services sectors. \u00a0Surety bonds and fidelity bonds needed by these professionals are available in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Visit us at SuretyOne.com, call (800) 373-2804, or email us at Underwriting@SuretyOne.com for an\u00a0<strong>Iowa appraisal management company surety bond<\/strong>\u00a0application or information on ANY surety bonding need. <a href=\"https:\/\/suretyone.com\">SuretyOne.com<\/a><\/p>\n<p>#suretybond #suretybonds #SuretyOne #appraisalmanagementcompany #AMC<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Effective January 1st, 2017 the State of Iowa has begun the regulation of appraisal management companies. Among other licensing qualifications and requirements, an AMC must also post an Iowa appraisal management company surety bond. The Iowa Division of Banking is&#8230; <a class=\"more-link\" href=\"https:\/\/suretyone.com\/blog\/iowa-appraisal-management-company-surety-bond\/\">Continue Reading &rarr;<\/a><\/p>\n","protected":false},"author":1,"featured_media":2376,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[139],"tags":[2161,280,281,414,283,282,2162,2163],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Iowa Appraisal Management Company Surety Bond<\/title>\n<meta name=\"description\" content=\"A $25,000 Iowa appraisal management company surety bond is one of the new licensing requirements effective January 1st, 2017.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/iowa-appraisal-management-company-surety-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iowa Appraisal Management Company Surety Bond\" \/>\n<meta property=\"og:description\" content=\"A $25,000 Iowa appraisal management company surety bond is one of the new licensing requirements effective January 1st, 2017.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/iowa-appraisal-management-company-surety-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-09T21:40:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-04-13T06:15:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/iowa_appraisal_management_company_surety_bond.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. 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