Tagged: C&R Fees

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Appraisers Online Petition Opposing AMC fees as C&R

Appraisers online petition opposing use of AMC fees as Customary & Reasonable Please consider signing the online petition launched by appraisers and written by George Hatch, opposing the use of AMC fees as Customary & Reasonable: Federal Reserve Board to Clarify Customary and Reasonable Appraisal Fees On October 18, 2010, the Federal Reserve Board announced an interim final rule to Regulation Z of Title 12, also known as the Truth in Lending Act (TILA). One of the elements to Regulation Z is a binding requirement upon creditors and appraisal management companies to ensure that appraisers who are not employees of...

Reasonable and Customary Fees - Who to Call? 4

Reasonable and Customary Fees – Who to Call?

Who to Call? Fellow appraisers, peers, coalition members and all who work as professional real estate appraisers, we ask for your help. Federal Law known as the Dodd-Frank Act went into effect on April 1, 2011. It clearly states and intends that real estate appraisers be paid “Reasonable and Customary” fees for appraisals performed by state licensed and certified real estate appraisers. Reasonable and customary, generally means what appraisers in a geographic area are generally paid based on a survey of such fees. The survey is supposed to be of fees paid by such entities as the Department of Veterans...

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