Action | Initial Appraisal Management Company Regulations |
Stage | Proposed |
Comment Period | Ended on 3/28/2014 |
I support regulation of AMC's in the state of Va. AMC's typically use the appraiser that takes the assignment for the lowest fee and fastest turntime. This is not providing the lender with the most reliable appraisal in many instances. Because I do not accept "basement bargain fees" I lose many appraisal assignments to the lowest bidder. Appraisers are requlated therefore, the people reviewing our work should also be regulated.