Michigan – HB 5271 & HB4975, effective April 1, 2014, regulates requirements for appraisal management companies

House Bill 5271 (Public Act 426) signed by the governor December 20 and HB 4975 (Public Act 505) signed December 27, both effective April 1, 2014, establish licensing requirements and fees for appraisal management companies.  Text of the bills can be accessed at http://www.legislature.mi.gov/documents/2011-2012/billenrolled/House/htm/2012-HNB-5271.htm  and http://www.legislature.mi.gov/documents/2011-2012/billenrolled/House/htm/2011-HNB-4975.htm