OAR 161-560-0010: Audits Required

(1) An audit of an appraisal management company registered to provide appraisal management services in Oregon may be conducted by the Board. (2) In the case of a subsidiary or affiliate of a financial institution engaging in business as an appraisal management company without obtaining a registration to provide appraisal management services in Oregon, the Board may conduct an audit of the appraisal management company in a joint or alternating manner with the appropriate federal banking agency or the Bureau of Consumer Financial Protection as permitted or required by applicable law. (3) The Board may audit an appraisal management company at any time or times and may require the production of such records at the office of the Board as often as is necessary. (4) An appraisal management company that refuses to submit to an audit shall be considered to have failed the audit.