Action | Initial Appraisal Management Company Regulations |
Stage | Proposed |
Comment Period | Ended on 3/28/2014 |
AMCs should not be allowed to blast email for orders as this promotes utilizing the cheapest appraiser rather than a qualified appraiser.
Appraiser compensation should be based on reasonable an customary fees NOT inclusive of fees established by the AMCs payment history but rather a neutral 3rd party source.
AMCs should not be allowed to dictate to an appraisal company that they can not use 1099 contract appraisers.
If an AMC wants a background check done on an appraiser, this should be at their cost not the appraisers.