Staff Reductions at AMCs
Appraisers, it’s not ‘just us’ who have taken the slowdown in lending “in the shorts.”
I have confirmed changes at THREE different AMCs:
CoreLogic is laying off all W-2 ‘staff’ appraisers, and most of the staff administering those folks. Corelogic may continue placing assignments with 1099 vendor appraisers. My suspicion is that many of the W-2 appraisers will continue to work with Corelogic as 1099 vendors, especially in the urban areas.
Clear Capital is making massive staff reductions in the appraisal management department, including the Chief Appraiser and the Administrative Manager, who both are licensed appraisers.
Aloft is a start-up ‘appraisal company’ and a licensed AMC in Washington. Most ‘staff’ appraisers have been jettisoned, along with the licensed Trainees they had hired to work under the Certified Appraisers. That’s too bad for trainees, as this was a decent way to accumulate hours toward their licensing.
There are probably other AMCs around the US with similar activity. If you have absolute confirmation knowledge of AMC staff reductions, closing doors or selling out, let me know. Provide as much detail that you know about similar to the above. I might want to compile a list and distribute it one day in the future.