Some loan officers hate appraisal management companies (AMCs) and here’s why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little. At least that’s what we’ve been hearing for two years now. But that’s not what makes LOs really angry. The bigger issue is the fact that appraisers working for AMCs are being overly cautious on valuations, and screwing up home sales (mortgage closings) left and right. Ask any LO or loan broker what the biggest hurdle is to a loan closing and universally they will say: the appraisal.
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