Professional appraisals are the foundation on which stable real estate markets are built, so ensuring appraisers are able to do their jobs to the best of their ability is vital to the industry. That’s why a report from the federal government on appraisal quality is welcomed. The Federal Housing Finance Agency found that appraisals ordered by appraisal management companies, AMCs, are no more likely to be overvalued than appraisals ordered directly by the lender.
“The results indicate no clear evidence of any systematic quality differences between appraisals associated and unassociated with AMCs,” the FHFA report says.
AMCs are entities that enable lenders …read more
Source: Speaking of Real Estate