appraiser independence - Appraisers Blogs

Suspended: The AMC That Turned “Review” Into a Value Demand

AppraisersBlogs — Thu, 19 Mar 2026 12:30:14 +0000

Financial Asset Services and its chief appraiser did not just cross the line of appraiser independence, they marched past it so boldly that the Virginia Board suspended them both. In a rare twist involving a reverse mortgage, the push for a lower value became so aggressive that the Board ultimately issued a second suspended license to drive the point home. The Virginia Coalition of Appraiser Professionals recently highlighted a case that should make every appraiser pause. Financial Asset Services (FAS) was hired to manage a reverse mortgage appraisal, a product where the pressure often runs in the opposite direction. Instead...

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ARCC Discussion Exposes GSEs Agenda to Reduce Appraisal “Friction”

AppraisersBlogs — Fri, 22 Nov 2024 13:30:11 +0000

Mark Calabria’s discussion with ARCC revealed the GSEs’ agenda to reduce “appraisal friction” by eliminating the role of professional appraisers and the appraisal process altogether. The recent discussion hosted by the Appraisal Regulation Compliance Council (ARCC) with Mark Calabria, the former Director of the Federal Housing Finance Agency (FHFA), offered a rare and illuminating glimpse into the inner workings and mindset of the nation’s housing finance regulators. During the engaging conversation led by ARCC Chair Josh Tucker, Dr. Calabria shared his expert perspective on FHFA’s controversial decision to significantly increase the use of appraisal waivers, which allow mortgage lenders to...

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The Great Debate on Appraisal Fees

Isaac Peck — Mon, 28 Oct 2024 12:30:09 +0000

She included several different fee split examples indicating AMCs retained as much as 70 percent of the total appraisal fee paid by the borrower, which prompted her to stop working with AMCs because of the lack of transparency. The appraisal industry is abuzz with a discussion about appraisal fees. The Consumer Financial Protection Bureau (CFPB) recently issued a Request for Information Regarding Fees Imposed in Residential Mortgage Transactions [Docket No. CFPB-2024-0021] in which it solicited feedback from the public and industry stakeholders on the fees charged to consumers by mortgage providers and related settlement services. The CFPB framed it as...

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Appraisal Regulation Compliance Council Exposes Disturbing AMC Violations

AppraisersBlogs — Fri, 30 Aug 2024 12:30:34 +0000

The Appraisal Regulation Compliance Council published a detailed breakdown to the CFPB, which showed the median average AMC fee being charged to borrowers amounted to a staggering 65% of the total appraisal fee, with one AMC extracting as much as 84% in pure profit. The Appraisal Regulation Compliance Council (ARCC) is a crucial non-profit organization that specializes in providing fact-based research and expertise on the complex web of appraisal regulations and compliance issues. Driven by a non-partisan mission, ARCC has spent the last two years diligently collecting, vetting, and organizing comprehensive data on lender appraisals conducted by Appraisal Management Companies...

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Fight Unfair AMC Practices – Leverage State Authorities

AppraisersBlogs — Wed, 14 Aug 2024 12:30:38 +0000

Alarmed by predatory practices among AMCs, a peer has drafted letters urging appraisers to call on state authorities to address unfair AMC conduct and potential regulatory violations. As appraisers, we have faced an ongoing challenge with Appraisal Management Companies (AMCs) offering fees that are well below the customary and reasonable rates for standard appraisal assignments. This practice has created a troubling trend of “bid wars” where AMCs pit appraisers against one another, driving down fees to unacceptably low levels. In response to this issue, a peer has provided two draft letters that can be easily modified and used by other...

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Fannie Wants to Script Conclusions of Outside Analyst – Believes It Is Above the Law

Jeremy Bagott — Mon, 29 Apr 2024 12:30:51 +0000

Government-sponsored mortgage giant Fannie Mae is essentially forcing banks to repurchase any loan it wants if [the appraiser] refuses to use the comparables Fannie has selected. [The corporation] was created by the government, is controlled by the government, and operates for the government’s benefit,” wrote Justice Anthony Kennedy in a unanimous Supreme Court ruling in 2015. He was describing passenger rail hegemon Amtrak, but he could easily have been describing government-sponsored mortgage giant Fannie Mae. The Roberts Court held the National Railroad Passenger Corporation – known more commonly as Amtrak – was a government entity for the purposes of the...

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Fastapp AMC Alleged Violations of AIR

AppraisersBlogs — Wed, 01 Feb 2023 13:30:55 +0000

The following court documents in the case Naftali Horowitz v. [xxx], Fastapp AMC founder v. Fastapp AMC president, confirm what appraisers have been saying all along, that if you want high-volume AMC work, you have to lower your fees to 1980’s level, have 24 hour turn times, and, above all, be a number hitter. Horowitz, Fastapp founder, filed a lawsuit in New York court on January 31, 2022 against defendant to, among other things, remove the defendant as an officer and director of the Company because, when he brought her on as shareholder in 2020, he claimed that she made...

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All This Will Do is CREATE BIAS!

Guest Author — Thu, 19 Jan 2023 13:30:55 +0000

All this will do is CREATE BIAS… How does one stay unbiased if they repeatedly get sued or raked over the coals every time they do an honest, true appraisal that does not meet the expectation of untrained members of the general public… Does bias exist? Of course. Does it exist in appraising? Rarely, if ever. Not one of the publicly aired cases has shown any verifiable facts or data to prove their claims. Bias in appraising is rare and far less than in nearly all other vocations. Why? Because appraisers are and have been, for decades, already held to...

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The Government Screwing Over an Entire Industry

Brian Stevens — Wed, 12 Oct 2022 12:30:13 +0000

The government wants to move to a fully automated appraisal format, and the more that they can dirty the narrative in their favor, the quicker they get to their objective… This just in: In a recent memo, the CFPB wants you to know that if you are buying a home, that you can contest your appraisal. By the way, anyone at any time can contest an appraisal for any reason. This isn’t new. Not at all. In fact the CFPB doesn’t really give two craps about your opinion of value or the Appraiser’s opinion of value. This has nothing to...

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Violating Appraisal Independence Through Harassment, Intimidation & Coercion

Dave Towne — Wed, 15 Jun 2022 12:30:59 +0000

It shall be unlawful… to engage in any act or practice that violates appraisal independence… Appraisers, I have written the info below, which you may use if you desire to send to your clients and local real estate offices. It’s time for all appraisers to stand up to this kind of very adverse behavior, done by and promoted by many real estate brokers/agents across the US. I have been chastised multiple times by brokers, and in one instance that I know of, was excluded (by the lender who told me) from doing another assignment when I didn’t appraise a prior...

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Federal Agency in Charge of Appraisers

Guest Author — Mon, 23 May 2022 12:30:12 +0000

Having a federal agency in charge of appraisers will be a NIGHTMARE. Leave it to the states as it is now. ALL appraisers should be SWAMPING their state representatives with calls & emails in OPPOSITION to newly introduced H.R. Bill entitled: Fair Appraisal and Inequity Reform Act of 2022. DO IT NOW. **Remind them all that the job of a Professional Real Estate Appraiser is to PROTECT THE PUBLIC TRUST. That’s what we are in place for! With all of the ridiculous changes proposed with “PAREA”, we know exactly where this is headed. Appraisers coming out of their “PAREA” certification...

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Neutral, Unbiased, & Not an Advocate for any Party

Guest Author — Tue, 27 Jul 2021 12:30:17 +0000

Not because they are racist, or because they are biased… but because they feel they can no longer be that “independent, neutral” voice that we have always been counted on to be… The issue of declining an assignment based on the homeowner’s race has come up among appraisers. I believe the core issue is one of Appraiser Independence. How many of us have arrived at a property to have an agent or homeowner make comments that caused us to reconsider whether we should proceed? Comments regarding a “number needed”, comments that seem confrontational, comments that call into question our qualifications...

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The Other Side, Racism in Appraisals

Mark Skapinetz — Tue, 15 Jun 2021 12:30:51 +0000

…the other side of things, the appraiser profession side since no other news media and organizations are willing to do so… Note: The following blog article is not to defend anyone or to place blame. It is simply a blog looking at this issue from the other side of things, the side that hasn’t been discussed in the media. A couple weeks ago, I was privileged to speak on The National Real Estate Post about appraisal issues. One of the issues we discussed briefly was the ever-growing number of articles being written about allegations of racial discrimination in the appraisal...

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Hybrids vs USPAP Scope of Work Rule

VaCAP Board — Mon, 05 Aug 2019 12:30:13 +0000

Supporters of the bifurcated appraisal can claim scope of work till they are blue in the face… Appraisal Buzz published an article written by Joshua Walit on July 31, 2019 titled Nothing New Under the Sun: The Varied Face of Appraisal. The article brings up some good points, however; it does not take into account the reality of the market and the control of the lenders and appraisal management companies in the process. The mere fact that the appraiser does not have control over the person completing the inspection and in most cases, no way to even know who is providing the...

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Appraisal Independence

Guest Author — Wed, 15 May 2019 12:30:16 +0000

Most appraisers could care less about an amc score card… Professionals don’t treat other professionals like they are in grade school… What exactly is appraisal independence? Dodd Frank requires appraisal independence and associates it with pressure against the value of the property. But what about other areas of the appraisal process in which appraisers receive pressure? Let’s take turn times for example. Normal turn times in a steady market average 5-7 business days in most markets. Market activity, location, complexity, etc. will require longer turn times. First let’s define a business day. This is Monday through Friday and excludes Federal...

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Thank you SOLIDIFI

Michael Ford — Fri, 05 Apr 2019 12:30:47 +0000

Jan Bellas breached their past wall of intransigence… Thank you SOLIDIFI Wow. That was more painful than I thought it would be. It’s no secret that I have been an extreme critic of Solidifi in the past. It’s also possible I will be so again in the future. I have not ‘sold out’ or traded my integrity or standards. What happened is that Jan Bellas of the American Guild of Appraisers, V.P. of Member Services has with great effort (and very little suggestion) breached their past wall of intransigence. With Solidifi’s Sr. Executives (Mr. “P” in particular) the very first...

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A Little Push Can’t Hurt Right? Wrong!!

Mark Skapinetz — Fri, 29 Mar 2019 12:30:57 +0000

…forget the risky position foisted on the consumer by the loan officer… Well, here we go again. In my previous blog posts titled “Round and Round” and “Pressure My Story”, I spoke to examples of how lenders and/or AMCs have been pushing and pressuring appraisers to hit certain values on transactions. If an appraiser did not hit these numbers, or make changes to make the transaction work in the lender’s favor, the appraiser would be threatened with non-payment, removal from appraiser panels, and/or blacklisted. If you haven’t read those blog posts, feel free to go back and have a look....

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Another Huckster Enters the Appraisal Arena

Michael Ford — Thu, 28 Mar 2019 12:30:55 +0000

Yet another third party huckster has entered into the real estate appraiser and appraisal arena. It’s that time again! Yet another third party huckster has entered into the real estate appraiser and appraisal arena. Apparently motivated by pure altruism. We identified a need in the marketplace to address a common problem that lenders are regularly challenged with in providing accurate appraisal quotes and then ensuring pricing on the Loan Estimate is consistent and compliant,” stated Vladimir Bien-Aime, president and CEO at Global DMS. (I LOVE this guy, he writes like me!) Global DMS Launches SnapVal to Provide Instant, Accurate, Guaranteed...

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Standing With Us Protecting Consumers!

VaCAP Board — Fri, 15 Feb 2019 13:30:57 +0000

…average costs and appraisal turnaround times are minimal… VaCAP joins 29 State Appraisal Organizations in opposing an increase in the appraisal threshold. Behind the scenes, VaCAP and the Network have been working with Constantine Cannon LLP on drafting a formal comment on the proposed appraisal threshold increase from $250,000 to $400,000. The result is very thorough and factual. Each state organization contributed facts, figures and scenarios and Constantine Cannon compiled it all referencing current law and prior attempts of increasing the threshold. VaCAP is proud of the work that has been accomplished and proud to be part of a Network...

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Planet of Deadbeat AMCs!

Mark Skapinetz — Thu, 14 Feb 2019 13:30:14 +0000

So who is really responsible for payments to appraisers?… Where to start with this? Do I have to refer you back to my past articles like What’s Not in Your Wallet or Appraisers Outraged? Where do we even begin… We begin here. Another story of an Appraisal Management Company going out of business, owing tons of money to appraisers for services they provided. Coester VMS, once one of the biggest players in the game, closed its doors recently. They closed them leaving appraisers with thousands of unpaid invoices for services that who knows if they will ever be paid for....

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