Summary
In Subsection R162-2e-102(3), amends the definition of business day. In Section R162-2e-304, the amendment: 1) changes and adds to the disclosures an AMC is required to disclose to an appraiser; 2) changes and adds to the notices an AMC is required to provide an appraiser; and 3) provides a presumption of compliance for an AMC that pays an appraiser compensation consistent with the United States Department of Veterans Affairs fee schedule. In Section R162-2e-306, the amendment: 1) specifies the manner in which an AMC may offer an appraisal assignment to an appraiser; and 2) specifies that if an AMC uses delivery time for completion of an appraisal report when ranking an appraiser, the AMC shall only use business days in the time calculation.