Hawaii Appraisal Management Company Bond

Bond Penalty: $25,000

Per Hawaii Code, an "Appraisal management company" means a person that: (1) Provides appraisal management services to creditors or secondary mortgage market participants, including affiliates; (2) Provides appraisal management services in connection with valuing a consumer's principal dwelling as security for a consumer credit transaction or incorporating these transactions into securitizations; and (3) Within a twelve-month calendar year, beginning January 1 of each year and ending on December 31 of each year, oversees an appraiser panel of more than fifteen state-certified or state-licensed appraisers in a state or twenty-five or more state-certified or state-licensed appraisers in two or more states, as described in Act 118 SLH 2017 section-5." If your appraisal management operation falls within the statutory definition, you must be licensed and file an Hawaii appraisal management company bond.

The Department of Commerce and Consumer Affairs, Professional & Vocational Licensing Division provides a clear explanation of the process. You may review the same here. The surety bond required for this license class must be written in the amount of twenty five thousand dollars ($25,000). The bond is a compliance obligation. It guarantees that the licensee will comply with all requirements of Act 118, SLH 2017, and any other statute or rule enacted with respect to his or her duties, conduct, and obligations. The Hawaii appraisal management company bond also accrues to the licensing program for the benefit of a claimant against a licensee who has performed an appraisal for the the licensee and for which the appraiser has not been paid.

Hawaii surety bond leader, Surety One, Inc. is a specialist in the bonding needs of the appraisal profession. We offer both surety and fidelity bonds needed by AMCs in ALL fifty states, Puerto Rico and the U.S. Virgin Islands. Visit us at SuretyOne.com, call (800) 373-2804, email us at Underwriting@SuretyOne.com or click here to chat with an underwriter for an Hawaii appraisal management company surety bond application or information on ANY surety bonding need.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

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