Congratulations! Gov. Chris Gregoire this afternoon signed Washington State ESHB 3040, which will require the licensing and provide for the regulation of Appraisal Management Companies!
This bill takes effect as of July 1, 2011. Between now and then, the Department of Licensing and other stakeholders, including the Appraisers’ Coalition of Washington (ACOW), will be working to codify the rules arising from this key piece of legislation.
Many were involved in the effort to push through this important and critical legislation in a very short period of time! This was an amazing feat arising from an unusual effort. As Rep. Steve Conway, who was the initial sponsor of the bill in the WA House of Representatives, said to me today: “This was the ‘sleeper bill’ of this session” – it seemingly came out of nowhere, and passed with nearly unanimous support in both houses.
To all of you who have been involved in and supported this effort, I want to express a hearty “thank you,” and again say, “Congratulations”!