For purposes of determining whether,
within a 12-month period, an AMC oversees an appraiser panel of more
than 15 State-certified or State-licensed appraisers in a State or
25 or more State-certified or State-licensed appraisers in two or
more States pursuant to section 225.191(d)(1)(iii)—
(a) An appraiser is deemed part of the AMC’s appraiser panel as of
the earliest date on which the AMC:
(1) Accepts the appraiser for the AMC’s
consideration for future appraisal assignments in covered transactions
or for secondary mortgage market participants in connection with covered
transactions; or
(2)
Engages the appraiser to perform one or more appraisals on behalf
of a creditor for a covered transaction or secondary mortgage market
participant in connection with a covered transaction.
(b) An appraiser who is deemed part of the AMC’s
appraiser panel pursuant to paragraph (a) of this section is deemed
to remain on the panel until the date on which the AMC:
(1) Sends written notice to the appraiser
removing the appraiser from the appraiser panel, with an explanation
of its action; or
(2)
Receives written notice from the appraiser asking to be removed from
the appraiser panel or notice of the death or incapacity of the appraiser.
(c) If an appraiser is removed
from an AMC’s appraiser panel pursuant to paragraph (b) of this section,
but the AMC subsequently accepts the appraiser for consideration for
future assignments or engages the appraiser at any time during the
twelve months after the AMC’s removal, the removal will be deemed
not to have occurred, and the appraiser will be deemed to have been
part of the AMC’s appraiser panel without interruption.
(d) The period for purposes of counting appraisers on
an AMC’s appraiser panel may be the calendar year or a 12-month period
established by law or rule of each State with which the AMC is required
to register.
