Action | Initial Appraisal Management Company Regulations |
Stage | Proposed |
Comment Period | Ended on 3/28/2014 |
AMC's are charging the customer 25% ($500 versus $350 - $400) more per appraisal than prior to the existence of AMC's and paying the appraiser 25% less ($300 versus $400) resulting in more experienced and more qualified appraisers avoiding AMC work while "out of town" far away appraisers and lesser experienced and lesser qualified appraisers doing work for appraisers. A standard and Reasonable and Customary fee based on the standard VA fee for the state should be implemented to stop the enrichment of AMC's at the expense of borrowers and appraisers.