Action | Initial Appraisal Management Company Regulations |
Stage | Proposed |
Comment Period | Ended on 3/28/2014 |
There are efficient and fair AMC's working in Virginia that do pay appraisers a reasonable fee, however there are too many AMC's that pay the appraiser much less and cut corners to beat the competition that attract poor appraisals that just put a number on an appraisal with little supporting data and narrative explanation from lesser qualified appraisals that cut corners. AMC regulation should be implemented to ensure a reasonable & customary fee which will result in higher quality and more credible appraisals.