DART APPRAISAL ANNOUNCES AMC LICENSE FROM VIRGINIA REAL ESTATE APPRAISER BOARD

Troy, MI, March 18, 2015 - In accordance with new Virginia state law, Dart Appraisal announces it has become one of the first licensed appraisal management companies authorized to operate in the state of Virginia by the Virginia Real Estate Appraiser Board.

Effective February 1, 2015, the Virginia Real Estate Appraiser Board will begin licensing and regulating all AMCs in Virginia, detailing the definitions, qualifications, fees, and standards of practice and conduct for AMCs operating within the state. According to Section 54.1-2021.1 of the Code Virginia, "No person shall engage in business as an appraisal management company without a license issued by the Board."

Dart Appraisal, a leading national AMC, is licensed nationwide in accordance with all state regulations. "Compliance is a key component of our business model, and we take pride in remaining at the forefront of all licensing and regulation requirements throughout the industry," said Michael Dresden, president of Dart Appraisal. "Our clients rely on us to stay current and to ensure their compliance throughout the mortgage appraisal process."


The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) was signed into law on July 21, 2010, and requires that appraisal management companies "register with and be subject to supervision by a state appraiser certifying and licensing agency in each state in which such company operates." To comply with this requirement, the Virginia General Assembly recently authorized AMC licensure in Virginia.