AMCs Are Not Part of The Appraisal Profession

Legislation to Regulate AMC's & Protect Consumers Opposed by REVAA

Foreign entities do not get a voice in what legislation is introduced…

Let’s think about this with an open mind…

More states are introducing bills concerning AMC legislation, more specifically how AMCs will conduct business. Even states with existing AMC legislation are introducing stricter, more precise legislation. Why is this happening in all 55 jurisdictions?

States do not want to interfere in how a company or industry conducts business, but when practices are so abusive that it harms small businesses and consumers, they have little choice. States have the obligation to protect their citizens and businesses that contribute to the economic base of local communities as well as the state funding through taxation. States do not have an obligation to foreign entities, such as AMCs domiciled in another state. The privilege of conducting business in other states is just that, a privilege, not a right. State legislators are obligated to represent and protect their constituents; that is businesses and consumers in their state. It is the way this country was built and it is the way this country will continue.

AMCs have been around for a while and became popular when HVCC went into effect. Most, not all have created an adverse effect on the appraisal profession. Let me be clear, AMCs are not part of the appraisal profession. They are a self-made industry and the current model has no sustainability.

The most experienced, qualified and professional appraisers do not work with AMCs. Real estate agents are now vetting appraisers who call to schedule the appraisal. They are advising their clients of the dangers associated with certain lenders who use AMCs and certain AMCs themselves. Coalitions and other boots on the ground organizations are gaining strength. State disciplinary boards are seeing more complaints against AMCs. Lenders are re-establishing their relationships with independent appraisers and terminating relationships with AMCs as they are seeking quality appraisals. Investors want quality, accurate appraisals, not a checklist quality control program most AMCs use. Investor loan buy back is a big liability for every lender.

REVAA, The Real Estate Valuation Advocacy Association is well aware of the demise of the AMC business model. Why else would they spend time, energy, and money fighting each and every state who is attempting to protect their citizens and businesses? They are now attempting to hire staff appraisers to complete appraisal reports and have created the false perception there is a shortage of appraisers. This is for the sole purpose to promote their existence in the future. Why else would they be attempting to become appraisal firms? Public trust will erode even further if this happens.

Zach Dawson, Director of Collateral Strategy and Policy at Fannie Mae and Allan Hummel, Chief Appraiser, First American Mortgage Solutions, showed their own separate data and research indicating there is no shortage of appraisers on the Housing Wire webinar held on March 1, 2017. This mistruth is a fabrication of the AMCs to propel their plan to become appraisal firms; for no other purpose to prolong their demise. Listen to the webinar and see the data yourself.

REVAA is so engrossed in winning over state legislators, they have told some pretty impressive mistruths about their role and how they protect the consumer, the lender and the investor. Take a look at the letter to legislators in Oregon embedded at the end of the article.

In the letter, REVAA states, AMC’s follow the guidance of the Federal Truth in Lending Act in the payment of customary and reasonable fees. The letter specifically states fees vary based on seasonality, supply of appraisers, demand of residential appraisals, location and complexity.

Where is the truth in REVAA’s statement? Here is what the Federal Truth in Lending Act states about customary and reasonable fees.

AMCs are presumed to comply with this requirement by compensating fee appraisers in an amount that is reasonably related to recent rates paid for comparable appraisal services performed in the geographic market of the property being appraised. In determining this amount, AMCs must review the following factors and make any adjustments to recent rates paid in the relevant geographic market to ensure the compensation is reasonable:

  1. the type of property
  2. the scope of work
  3. the time in which the appraisal services are required to be performed
  4. fee appraiser’s qualifications
  5. fee appraisers experience and professional record
  6. fee appraisers work quality

AMCs must not engage in any anticompetitive acts in violation of state and federal law that affect the compensation paid to fee appraisers.

AMCs alternatively, are presumed to comply with this requirement by determining the amount of compensation paid to fee appraisers by relying on information about rates that:

  1. is based on objective third party information, including fee schedules, studies, and survey prepares by independent third parties, such as government agencies, academic institutions, and private research firms;
  2. is based on recent rates paid to a representative sample of providers of appraisal services in the geographic market of the property being appraised or the fee schedules of those providers; and
  3. in the case of fee schedules, studies or surveys, or the information derived therefrom, exclude compensation paid to fee appraisers for appraisals ordered by AMCs.

The letter also states AMCs were not included in the creation of HB 2501. Well they are not supposed to be included. Foreign entities do not get a voice in what legislation is introduced. Representatives of the citizens of Oregon get to decide what legislation is introduced. Perhaps, if REVAA and their members understood the role of the AMC, their purpose and relevance, or lack thereof, they would have more respect from those who have a high regard for the independent appraisal profession. REVAA would have more than the embarrassing 21 members they claim do over 80% of the mortgage volume of the country. Where is the data to substantiate that claim? Some of the members of REVAA listed on their website are the worst abusers of appraisers and the most harmful to the consumer.

Appraisers in Oregon are encouraged to sit down with their legislators and show them real facts with accurate, substantiated data.

Appraisers follow USPAP and are held to high standards of ethics. They are analytical by nature and report factual information. Those that wish to participate with appraisal profession need to be held accountable to the same standards. The evidence presented here shows a completely different story. Why would any professional, regardless of the industry, want to be associated with any company or organization that cannot differentiate fact from fiction?

The demise of the AMC is forthcoming, regardless of the efforts of the mere 21 members of REVAA. See who they are. If you do any work for any of these companies, you might want to rethink your professional associations.

By John J. Appraiser, Certified Real Estate Appraiser – author requested to remain anonymous


Image credit flickr -B Rosen

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38 Responses

  1. Mark Skapinetz on Facebook Mark Skapinetz on Facebook says:

    Williams fall group is a member? Aren’t they a large appraisal company? Oh that’s right. He owns Valuation Partners AMC as well and is home to the nationwide $250.00 appraisal fee offerings.

    • Retired Appraiser Retired Appraiser says:

      William Fall Group is an appraisal mill.  If they can find a way to outsource their inspectors to China…they will.

      • Mark Skapinetz on Facebook Mark Skapinetz on Facebook says:

        Well the owner owns valuation partners as well. So he uses his appraisers at William Fall and other appraisers around the country. Just doesn’t seem right.

  2. Avatar George says:

    Appraisal fees through AMCs should absolutely NOT be connected to supply and demand. The fee is what the fee is. The consumer pays the same amount regardless of the number of available appraisers vs. overall orders. The AMC should not be allowed to skim off (aka rip off) more of the appraisal fee simply because there are fewer orders. They are only a clerical middle man. The appraiser is still doing all of the work and is entitled to the same fee.

  3. Avatar Raymond says:

    well i have stated this several times before and will do it again. The appraisal profession has lost all control of the lending appraisal process to lenders and lender interest groups. Appraisers who continue to conduct business within the lending appraisal arena can no longer state that, they provide independent, objective nor impartial appraisal reports, when their clients control the fees, turn times, comp selection, comp adjustments, comments, photo requirement, etc, etc. Many know, that the appraiser shortage is a result of appraisers chosing to not work in the lending appraisal arena. The issue has always been can the appraisal profession regain control of the appraisal process from not appraisal entities????? Best Wishes to Oregon.

  4. Retired Appraiser Retired Appraiser says:

    Perhaps they should be part of the appraisal profession; after all, they “earn” half of the fee.  😉

    • Avatar Raymond says:

      retired appraiser, they are not part of the appraisal profession, the are the profession in the eyes of the lenders. The fee split is just a “part” of their controlling feature.

    • Avatar Raymond says:

      retire appraiser, the are not part of the appraisal profession in the lending appraisal arena, they are the profession since the control all aspect of preparing the report.

  5. Avatar LadyTee says:

    Well, John J Appraiser told it like it is. The fee of any AMC is the LENDER’S cost to do business…not the appraiser (by cutting the fee paid to the appraiser and keeping the rest) nor the borrower (by passing the AMC fee on to them at closing and hiding it in the “Appraisal Fee”). The LENDER chooses to utilize AMCs, their use is NOT required.

    The ugly truth of AMCs – an example

    Lender pays the AMC $600
    AMC pays Appraiser $275
    AMC keeps the difference $325

    AMCs have fought tooth and nail NOT to have AMC fees disclosed separately in the Loan Closing documents. Hmmm….wonder why??


  6. Avatar Fred Flintstone says:

    I am seriously considering placing all of the appraisal management companies that are members of this organization on my Blacklist. Cut the snake’s head off

  7. Avatar Tom C says:

    Excellent article John! REVAA’s website seems to be down. I get “504 gateway time-out…the server didn’t respond in time” error message. Anyone else has this issue? Can someone post the names of the AMC members of REVAA?

  8. Avatar Ralph says:

    Great article, they also need to pass a state law BANNING e-mail blast orders seeking the cheapest & fastest.  If the role of the appraiser per USPAP is to promote public trust, how does an e-mail blast to cheapest appraiser ensure a quality report in the biggest investment in one’s life?  (IT DOESN’T)  The only ones making out are the blood sucking AMC’s, while the public is not protected.  The big banks need to develop their own panel of appraiser’s similar to what VA does, otherwise these terrible AMC’s will just open up under a new name and nothing will change!

  9. Mark Skapinetz on Facebook Mark Skapinetz on Facebook says:

    Some of the members I know of are:
    Clear Capital
    William Fall Group (also Valuation Partners)
    Independent Settlement Solutions
    Single Source
    Pcv Murcor
    Service Link
    Pro Tek
    Stewart Valuations
    Accurate group

    There are a few more but I can’t remember or find them.

    • Avatar Wilma Flintstone says:

      Title Source, Inc.

      StreetLinks Lender Solutions


      Pro Teck Valuations

      Prime Valuation Services

      Nations Valuation Services

      Title Source

      Stewart Lender Services

      Stars Speedy Title and Appraisal review Services

      Nations Valuations Services

      MCS Valuations

      iMortgage Services

      Independent Settlement Services

      Fidelity Residential Solutions

      eMortgage Logic

      Assurant Specialty Property

      Asset Valuation and Marketing

      Appraiser Vender

      Accurate Group

    • Avatar Wilma Flintstone says:

      These would be the additional members of REVAA out there “promoting awareness and advocacy for the real estate valuation industry.” and the fine folks who are ” Leading the Way.”  Thank God they are out there doing all that ! ( ad nauseum )

  10. Avatar jeanie says:


    Accurate Group
    Asset Valuation & Marketing
    Assurant Specialty Property
    Axios Valuation Solutions
    Clear Capital
    CoreLogic Valuation Solutions
    eMortgage Logic
    Fidelity Residential Solutions
    Independent Settlement Services
    iMortgage Services
    LRES Real Estate Solutions
    MCS Valuations
    Nations Valuation Services
    PCV Murcor
    Prime Valuation
    Pro Teck Valuation Services
    STARS Speedy Title & Appraisal Review Services
    Stewart Lender Services
    StreetLinks Lender Solutions
    Title Source Inc.
    The William Fall Group
    Xome Settlement Services

  11. Mike Ford Mike Ford says:

    John J. I’m conflicted. One of your quoted sources (Mr.. Hummel) is from the gang that bought out ACI and created the infamous PACE PRO product they planned to market for $75 a pop.”PeePee” was basically an AAVM or appraiser assisted ‘comp check’ value conclusion dressed up to look like something credible. First version was so bad the only thing missing was a banner reading “How to commit appraisal fraud!”

    First American has no “street cred” to be offering appraisers advice on anything.

    How many of the listed AMCs have AI Members that either own them or service as primary consultants or ‘Chief Appraisers’? It might explain why AI is so set on getting USPAP brushed aside to allow for alternative sub standard work.

    I know PCV Murcor is MAI owned. The commercial side undercut fees all across my state (California); maybe across America. Thank THEM for your 25% decline commercial fees. I don’t see the commercial side product quality as being any worse or better than what is typical. Templated Narrative1 reports; with CoStar data supplied to the appraisers by clerical staff.

    Pretty honest and competent in house QC reviews in my (former) experience. I just object to the business model. Create fees less than 75% of what used to be prevailing, and then pay appraisers 50% of that.

    The residential side is about the same low caliber as LRES; and some of the fly by nights we’ve all come to dread and avoid. Turn time and low fee are the primary requisites.

    In the words of Garrett Morris’ old SNL character; “AMC been veddy veddy good to me” should be it’s owners motto. By the way they have had (may still have) the FDIC contract to audit appraisals in seized banks /GSEs.

    The best thing that could happen to any of them is to have what happened to LSI-ruinous competition driving THEIR fees so low they cant survive paying even a pretense of C&R. Maybe its happened already. Hence First American and ACI efforts to foist Pace Pro off on the world.

    The real problem is that we are all in regulatory limbo until we see Administration plans for privatizing Fannie and Freddie; repealing Dodd Frank and seeing what’s left. Dodd Frank did next to nothing for appraisers so Im ok with ‘something else’ if it’s meaningful.

    If its a throwback to HVCC days then I’ll just dump production loan appraisals completely. Im pretty much there already.

    To my friend in Virginia who resigned from the Appraisal Institute after 45 years of being a faithful dues paying member, congratulations. I am truly proud of you my friend. Now THAT is integrity!

    From the REVAA website:
    REVAA Members

    Nationwide appraisal and title services. Accurate Group ( provides appraisal and title services to real estate finance providers nationwide. We combine exceptional service with advanced technology and our proprietary AccurateAudit™ compliance foundation to provide banks and other residential and commercial real estate clients with the best combination of speed, accuracy, regulatory compliance and price. is a national appraisal management company. Our mission is to assist lenders of all sizes by providing the most accurate and highest quality residential appraisals in the industry. We were founded by appraisers and industry professionals who have noticed a trend in lower fee driven appraisals that cause a lack of quality and accuracy in appraisal reports. compensates our appraisers a higher fee than most competing Appraisal Management Companies. We provide quality residential appraisal products, which are completed by experienced and local appraisers in their assigned marketing areas.

    Asset Valuation & Marketing ( was founded on May 5, 1995.  We have spent the last 20 years developing and continuously improving upon our proprietary web application, building the most experienced vendor panel, and perfecting our ordering and QC processes.

    Asset Val was one of the first to develop an advanced proprietary web-based valuation application. Our in-house development team, taking advantage of emerging technologies, has continuously enhanced and upgraded our application. Asset Val has been providing high-volume orders to some of the largest servicers and investment banks in the nation for over 20 years.

    Since the company’s founding, Asset Val has maintained a thoroughly screened and vigilantly trained vendor panel. Asset Val has spent over two decades recruiting and training the most ethical, knowledgeable and capable brokers and realtors from across the nation. Our REPPS (Real Estate Professional Partners) must complete an online webinar ensuring they will meet our high quality standards when completing their assignments. Our outstanding vendor base combined with our exceptional assignment, follow-up, and quality assurance processes produce the finest valuation products available in the industry.

    Assurant Specialty Property ( offer a variety of insurance coverage programs and related services to leading businesses and consumers alike. We have a long history of partnerships with industry leaders in mortgage lending, manufactured housing, auto finance and property management to provide client-centered, scalable solutions. We offer a diversified portfolio of products and services to protect property, mitigate risk, reduce expenses and build value

    Axios Valuation Solutions ( manages residential appraisals nationwide with a network of over 16,000 appraisers.  We offer full interior and limited exterior appraisal management for Single Family Residences, Condos and Townhomes, Coops, 2-4 units, manufactured homes and vacant land. Appraisals for all types of intended use:  Loan Origination (purchase and refinances), FHA financing, Loss Mitigation and servicing needs, HVCC audits, and more.

    Clear Capital ( provides home pricing data including valuation, investment and risk assessment services for the largest U.S. banks, investment firms and other financial organizations. We combine progressive technology, a high caliber in-house staff and a well-trained network of more than 40,000 field experts, to offer meaningful housing data that helps clients understand the current state of local markets—whether they’re analyzing one property or a pool of loans. Our products include appraisals, broker price opinions, property condition inspections, value reconciliations, and home data indices.

    CoreLogic Valuation Solutions

    eMortgage Logic ( is a nationally recognized, premier provider of residential valuation products. We differentiate ourselves through our proprietary technology, our ability to access current market data and our comprehensive analytics. Many of these tools and information are provided as products as wells as utilized internally to enhance our quality, speed and accuracy. As industry professionals, we understand our client’s challenges and align ourselves to meet their ever-changing needs. We understand the relationship between value and risk, and strive to provide the best information and solutions available.

    Fidelity Residential Solutions, Inc. (, a subsidiary of Fidelity National Financial, Inc. (NYSE: FNF), is the nation’s leading single source support services company for relocation, real estate owned (REO) and the real estate industries providing services in the United States, Canada, Guam, Puerto Rico and the U.S. Virgin Islands

    Independent Settlement Services, LLC ( has been dedicated to serving our clients in the real estate finance industry since 2005. We deliver national appraisal and title management services with a commitment to champion outstanding service and the highest standards for compliance and quality. Our compliant nationwide service meets the fulfillment needs of mortgage originators, mortgage servicers, quality control companies, due diligence firms and other institutions involved in the real estate finance industry. Our commitment to add value to our customers extends beyond our comprehensive product and service offering. Independent combines industry-leading technology with an experienced staff and an extensive vendor network to deliver superior results. We implement flexible solutions to accommodate processes around your service expectations. Independent is committed to advancing your strategic goals while saving you time, money and resources.

    LRES Real Estate Solutions – LRES ( places great emphasis on understanding your requirements, business hurdles and market pressures to deliver regulatory-compliant appraisal services. For more than 10 years, we have listened carefully to our clients in the real estate, banking and finance industries. Our spirit of service excellence has enabled us to offer powerful solutions that span the entire mortgage life cycle, from origination all the way through to default management and asset liquidation.

    MCS Valuations is one of the top full-service valuations providers in the industry, performing property valuations in all 50 states and surrounding territories.  We manage our vendor panel to stringent quality standards and provide them with regular quality scoring feedback as well as the education and tools to fulfill assignments. Once submitted, our internal quality process and tools are utilized and interpreted by our staff to ensure that the product being delivered to our clients meets their quality expectations. The MCS Valuations product suite includes BPOs, Appraisals, Evaluations, Reviews and Reconciliations.

    Nations Valuation Services (NVS) is a national real-estate Appraisal Management Company (AMC) formed with the objective of providing unbiased real-estate appraisals, Broker Price Opinions, and alternative valuation products to the lending industry. NVS was established in 1989 as a part of Nations Companies, a group of national real-estate information companies.

    PCV Murcor: For over 30 years, PCV Murcor ( has provided real estate valuations for the country’s largest lenders, servicers, brokers and insurers. Founded in 1981 and based in Pomona, California, PCV Murcor is focused on delivering credible valuations and broker price opinions (BPOs) on a broad spectrum of commercial and residential properties. The company offers a full slate of real estate valuation products and consulting services, and prides itself on both the accuracy and the high quality of the valuations and customer service it provides all clients.

    Prime Valuation Services ( manages a panel of over 15,000 licensed appraisers and 10,000 registered brokers to provide a full range of valuation solutions to credit unions. PVS is the only valuation solution that is fully integrated with Prime Alliance’s unparalleled mortgage origination technologies. We work closely together to streamline the entire process by delivering timely, reliable and robust valuation products that enable our clients to accurately quantify risk. Quick turn times that are the best in the industry, proactive appraiser management, compliance oversight and quality assurance routines are key features of our advanced, service-oriented customer solutions.

    Pro Teck Valuation Services ( is a national provider of residential real estate valuations. With a sharp focus on data accuracy and customer service we deliver customized risk management solutions for funding, investing, servicing and portfolio management requirements. Services include: Collateral Fraud Scoring, AVMs, BPOs, Desktop Valuations, Appraisals and CollateralPoint.

    ServiceLink (, the national lender platform for Fidelity National Financial (NYSE: FNF), offers a full suite of valuation solutions to determine true real estate value and qualify collateral risk. We offer national coverage through our vast network of qualified professionals, and match this network with a robust, automated underwriting rules engine that facilitates customized lender-specific quality control requirements. Our extensive knowledge and experience, combined with our proven processes and Serve First approach, are what differentiate ServiceLink in the mortgage services industry.

    SingleSource Property Solutions ( is a nationwide service provider to many of the nation’s largest loan servicing, origination, and secondary entities. Headquartered in Pittsburgh, Penn., SingleSource provides one-stop shopping with product offerings that include Valuation Services; REO Asset Management and Disposition; Property Preservation;  and Full Title and Escrow.

    STARS Speedy Title & Appraisal Review Services: Founded in 1998, Speedy Title & Appraisal Review Services, LLC (STARS) is recognized as a leading, nationwide provider of integrated settlement services and mortgage business process outsourcing.  Our company specializes in residential appraisals, underwriting, flood, tax, default legal and reconveyance services.

    Stewart Lender Services (, a wholly owned subsidiary of Stewart Title Company, is a nationwide provider of centralized origination title, loss mitigation/default resolution, default title, REO asset solutions, collateral valuations, quality control and due diligence for mortgage lenders, servicers and capital markets. With more than a century of experience matched with the industry’s leading technologies, SLS helps lenders, servicers and law firms meet the rapidly changing demands of today’s market. SLS has the financial strength, industry knowledge and proven flexibility to perform throughout the lifecycle of a loan.

    StreetLinks Lender Solutions ( provides innovative and comprehensive suite of valuation services and lending technology solutions to banks, lenders and other mortgage industry firms. StreetLinks’ commitment to quality and service, embodied by our partnership approach to clients and appraisers, continues to set us apart as the nation’s premier lending solutions partner. Our products and services are used by thousands of mortgage bankers and appraisers nationwide to simplify and improve everyday business operations.

    Title Source Inc.: Title Source is the largest independent provider of title insurance, property valuations and settlement services in the nation. We have over 17 years of industry experience and expertise. Our solutions power the nation’s largest residential lending institutions, as well as smaller community-based lenders. Title Source is a preferred provider to five of the top twenty Fortune 100 companies and six of the ten largest residential mortgage lenders.

    The William Fall Group ( for over 30 years, The William Fall Group has provided comprehensive real estate valuation and analysis services for financial, public and government sectors. Our team is comprised of experienced employee staff appraisers, highly skilled management, and dedicated administrative staff who work together as a cohesive unit to provide the utmost in quality and service to our clients.

    Xome Settlement Services ( Dedicated to efficiency and attention-to-detail, Title365’s professional settlement and escrow professionals remain completely impartial throughout the entire escrow settlement process, faithfully safe-guarding and carrying out mutually consistent instructions relating to your transaction.

    We know that a complete picture of what’s happening makes for a more dynamic and efficient closure to any escrow order. Once escrow is opened on Title365, all parties to an escrow receive real-time updates, secure access to documentation the second it’s available and benefit from rich communication mechanisms that make sure everyone is always in the loop. Real estate professionals and their customers can quickly secure available documents as they are completed with the peace of mind that they’re always there for retrieval anytime, from anywhere, saving time and money and improving efficiency.

    • Avatar John J Appraiser says:

      Mike, You bring up valid points, I find it very ironic that Alan Hummel, a chief appraiser at an AMC is stating there is no appraiser shortage. It just supports the fact the “shortage” was a fabrication.  It is sad the Appraisal Institute is so badly embedded into REVAA. The AI used to be a great organization. The membership has really been screwed over and I don’t think they even realize it yet.  Why anyone is still a member of AI is beyond my logical reasoning. They bring nothing to the table. At least with AMC’s, we knew their true colors from the beginning.. Just more smoke and mirrors with AI.

      Thanks for all you do for appraisers!

  12. Avatar Rogue Appraiser says:

    I’ll just leave this right here.  This was posted to another site By someone and written by an AMC exec.  They aren’t a member of REVAA but might as well be.  They seem to fit the same model.


    • Avatar Tom C says:

      Did they just admitted to fastest and cheapest!!? Increase in whose assets?

      AMC’s have proven to be nothing more than parasites gouging consumers and shopping for the cheapest and crappiest appraisal …so they can increase their revenue. Plain and simple!

    • Avatar Raymond says:

      hahaha….anyone really surprised. Look, lenders appraiser mentality is “fast and cheap”. It really doesn’t matter what name they have or what’s membership.

    • Mike Ford, AGA, CA AG, GAA, RAA, Realtor(r) Mike Ford, AGA, CA AG, GAA, RAA, Realtor(r) says:

      I read this one too but it is part of a Facebook post and may or may not be made up. No specific AMC name indicated anywhere that I could find.

      • Avatar Carl says:

        Not made up. Here is the original screenshot. Not sure who Chronos Solutions are…

        From their website:

        Traditional and Alternative Valuation Services – In strategic partnership with fully licensed, nationwide appraisal management companies, Chronos Solutions provides single-family, co-op, condo, multi-family and commercial appraisal services, as well as best-in-class Residential and Commercial Evaluations and  Broker Price Opinions (BPOs). Related services include value range verifications, value reconciliations, desk and forensic reviews, Automated Valuation Models (AVMs), Property Condition Reports, and valuation surveillance.


        • Baggins Baggins says:

          Wow Carl, that’s a shocker!  Chronos is the new brand for Matt Martin.  They specialized in government HUD MM contracts (aka FHA default heading to the HUD HomeStore).  Then they branched into mortgage lending during their name transition.  They pulled out of some locales, but launched in others.

          They were for a brief period, better than this.  But even during initial matt martin MM contracts, they did try to use clear captl to outsource appraisals.  Fortunately specific HUD letters for MM managers prohibited such engagement.  Unfortunately, HUD no longer recognizes a minimum fee thresh hold for FHA appraisal services.

          I lost them when their HUD contract came up, and they moved to the origination side.  Clearly, their focus was not C&R fees.  I can’t believe they made up that graphic and actually published it.  That’s the smoking gun right there boy.  Good luck getting anyone in legal to pick it up, these companies are national heavy hitters and get that HUD work via contract bidding over 5 year periods, while simultaneously using that superior infrastructure, lender access point, and existing national management platform to skip right past other amc competition.

  13. Avatar pt says:

    Roflmao…..AMCs are my best friend..”not!

    Rogue, your post is brilliant and very very embarrassing to my best friends.

    and yes the appraisal institute is in bed with them.

  14. Avatar John - Maryland says:

    This was emailed to me and although meant as a joke says it all:

    Chronology of the appraisal shortage:
    2008: AMC says you must take assignment for $200 and we want it back in 48 hours or we find someone else.
    2009: AMC says you must read these 26 pages of rules to follow.
    2010: AMC says you must correct report reviewed by former Taco Bell employee.
    2011: AMC says we need field reviews for $300.
    2012: AMC says you must wait for your payment for 90 days.
    2013: AMC says their PDF reader didn’t find key words in appraisal, please revise report.
    2014: AMC says you must be the first and lowest priced responder to this blast e-mail to 50 other appraisers.
    2015: AMC says you must look over these 20 alternative sales and tell us why you didn’t use them.

  15. Avatar BigAl says:

    “REVAA members believe in the free market and that means that there should be no attempt to either set a cap or floor on residential appraisal fees” so that we can stiff consumers and charge $650 for appraisals, pocket $300 for doing nothing and pay the appraisers $350 for all their work!

    This one is from ServiceLink. Their share was $300… almost as much as the appraiser’s fee.


  16. Avatar Raymond says:

    the amc business is the closest business model to professional slavery. The appraiser is not in control and is totally dependent. The appraiser does as he/she is told or he/she is blacklisted and/or removed from the work list.

    • Avatar Wayne Courtney says:

      Gee….I just have never understood how we got into this situation. Personally, our office refuses ALL AMC assignments and have not accepted one in years. If these folks are earning a bunch of money it is not off of our efforts! STOP I repeat STOP working for these parasites and they will go broke and be gone in a short time! They exist only because there are appraisers willing to allow them to suck their profits from the appraisers efforts. Should we feel sorry for those stupid appraisers? Are you an appraiser who pays dues to one of the silly appraisal organizations that do nothing for the common appraiser? Send your dues, let them spend your money to run your cart into the ditch! These folks are brilliant and they have proven it over and over! LOL…Go pay to attend an EXPO…hire a coach, hire a trainer…Send your money and watch the pitiful results! The time has come to wise up!

  17. Mike Ford Mike Ford says:

    Wayne, in some parts of the country there is no sustainable work outside AMCs. My old business partner had to accept work where he could get it or take his son out of medical school. Hardest working guy I know.

    My own work is down to about 10% or less loan work (of any kind). I simply don’t like working with AMCs or even banks anymore. I’m blessed that I can often choose (though not always). Sometimes cash flow dictates that I accept transactional appraisal work.

    One area all appraisers can look into though is estate and gift tax; or establishing a new basis for inherited property (NOT the same thing as estate return filing assignments). Its not hard to do. Just read the IRS instructions and follow them. Fees are typically better. STAY AWAY FROM fractional interest discounting! Even if you ‘know how’ it is a minefield and not worth the effort. Leave that to the CPAs.

    Introduce yourselves to family law attorneys in your area. Let them know you are always available to answer general appraisal questions ‘no charge’.

    • Avatar Wayne Courtney says:


      I hear what you are saying! I do find it very strange that the most recent information I can find pertaining to the actual number of appraisers is the U.S. Valuation Profession Fact Sheet – June 2016. This report is almost a year old and I have watched approximately 200 appraisers drop out of this industry each month since then. That report indicated that there were actually 76,075 actual appraisers. The report indicated that of that number 51% prepared residential appraisals. If true, that would be 38,800 who were preparing residential appraisals as of June/2016. So, 38,800 appraisers in the entire United States, Puerto Rico, Guam, Virgin Islands, etc. The Texas Real Estate Research Center provided a study a while back that indicated at least 1/4 of appraisers refused to work with AMCs. If that study was correct we should have less then 29,100 appraisers in our total industry doing residential appraisals for Appraisal Management Companies.

      The State of Texas where I live has 254 total counties. The best information I can find indicates that there are 74 counties (29.1%) that have zero appraisers; 50 counties (19.69%) with only one appraiser; 24 counties (9.45%) with two appraisers. These are total appraisers and do not reflect those who prepare residential assignments or the 1/4 that do not accept AMC work.

      Maybe I am missing something, but I just cannot understand how Appraisal Management Companies could possibly have such a hold on this industry. I do not understand how so many parasites could exist and feed off such a few people. What makes appraisers send their hard earned money to organizations with worthless designations, or those who promote AMCs, etc. at the expense of the typical appraiser.

      We keep hearing all of the foolishness about a shortage of appraisers. Then many in our industry report that they cannot earn a living unless they allow the parasitic AMCs to exploit them. I just do not understand!

      • Avatar Wayne says:

        Just an update! There is now a more recent U.S. Valuation Profession Fact Sheet – December, 2016. This one indicates that there were 73,731 actual number of appraisers as of December, 2016….still many dropping out each month since then.

        There was a reduction of 2,344 appraisers within that six month period. Again 62% of the current appraisers are over 51 years of age. This report indicates that 51% (37,603 appraisers) are doing residential appraisals. Again I say that i do not have any idea why the current appraisers are still bending over for any AMC…. Say NO…lets put them out of business and we can move on to a profitable profession. I know I am dreaming. Send your dues money to an organization that is working in your interest. Send your money to attend an Expo or to be TRAINED by some self-appointed guru! It makes me wonder about some of you! LOL

      • Mike Ford Mike Ford says:

        Wayne, the ‘how’ or ‘why’ part is because of HVCC. Banks were able to cut HUGE expenses from the P&L Statements by eliminating all appraisal department salaries and benefits.

        Couple that with a comparatively small number of actual lenders (I’m talking about the people that actually lend the money as opposed to ‘correspondent lenders’ or mortgage brokers) which all use AMCs with present fees covered by TRID and the picture gets clearer.

        Anti trust laws only apply to independent appraisers…NOT to price fixing between major banks and the AMCs that THEY dictate to!

        Now, since almost all loans are insured or guaranteed by someone other than the bank these days, they don’t even have to worry about loan quality (OR collateral)! Lowering fees to $75 for products like the old proposed PACE PRO garbage will yield greater net returns than HVCC ever did!

  18. Baggins Baggins says:

    Turned down three highly qualified random applicants for appraiser apprenticeship this year alone.  Amc’s are not appraisers and they create severe legislative and workload imbalance because they are powerful large national institutions vs singular appraisers. But take hope. If you ever lose your license or give up on performing real estate appraisals, you can always open up an amc and increase your income by providing far less consequential services.

  19. Avatar John Fucarino says:

    Thank you all, I do not feel as alone. It is truly an adversarial business beyond anything I can think off. I am getting to the point where they are grinding me down and warring me out!


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AMCs Are Not Part of The Appraisal Profession

by Guest Author time to read: 5 min