WASHINGTON — Federal banking regulators are putting pressure on a dozen or more states to begin regulating appraisal management companies within their borders.

Under a final rule issued Thursday afternoon, states are encouraged to register and supervise appraisal management companies that contract with licensed and certified appraisers that perform appraisal assignments for banks and other lenders. But such companies that are not associated with a federally regulated institution will be handicapped if a state takes a hands-off approach.

"In states that have not established a regulatory structure after 36 months from the effective date of this final rule, any non-federally regulated AMC is barred by section 1124 of Title XI from providing appraisal management services for federally related transactions," the regulators said.

Mortgage loans originated by a federally insured bank, thrift or credit unions are considered federally related transactions.

As previously reported, 37 states already meet the minimum requirements for state registration and supervision of AMCs.

Six federal regulatory agencies issued the joint final AMC rule that is slated to go into effect 60 days after is it published in the Federal Register.

The Appraisal Institute did not respond to requests for comment in time for this story.

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