AREA 56™ Features & Benefits

AREA 56™ is a database of all AMC, BPO, and other appraisal legislation at the state level. Why 56 instead of 51? With all states, territories and the District of Columbia there are 56 jurisdictions. No, we don’t intend to imply that anything bizarre might be occurring in this space.

We know tracking legislation is a challenge for all stakeholders. Regulators benefit by the knowledge base sharing with their peer regulators. Lenders benefit by way of providing a quick search tool to see which AMCs are registered and compliant with state registration requirements. AMCs are charged with monitoring and keeping up with a maze of laws.

Area 56™ attempts to make sense out of what may seem on the surface to be paranormal regulatory activity.

APPRAISERS

• Be familiar with legislation, pending and enacted in your state(s)
• Track AMC registrations

REGULATORS

• Lots to do and with no budgets
• Let us build the tools to help you become more efficient
• Connect with your peer state regulators

LENDERS

• Know your AMC vendors
• Ensure they are compliant
• Bulletin board for knowledge base

AMCS

• Manage your applications, documents
• Track your registration fees
• Central database for all states

Managing compliance these days is an unwieldy task. Margins are being compressed. The cost of doing business is expanding. Now is not a good time to add staff to handle the paper chase. We’ve created a dashboard to help all stakeholders manage the tasks, store documents, monitor compliance costs, and track new regulations.