The Appraisal Fee Lawsuit AMCs Can’t Outrun
The class action lawsuit filed against CrossCountry Mortgage and Class Valuation arrives at a moment when many in the appraisal profession have grown tired of watching Appraisal Management Companies (AMCs) drain the industry from the inside. Appraisers have described AMCs as unnecessary middlemen who inflate fees, hide their cuts, interfere with the work, and contribute nothing of substance. This case finally puts those practices into the record with a level of clarity that appraisers have been waiting for. The complaint describes how borrowers are charged appraisal fees that often exceed one thousand dollars, yet the appraiser receives only a fraction...

