What is an appraisal management company?
At first glance, this seems almost self-evident. An appraisal management company is just that, a company that manages appraisal vendors and all of the ordering, tracking, and delivery tasks that need to be attended to within a real estate mortgage transaction. Yet, judging from feedback that I routinely get from people in our industry, it is apparently not that simple. Alternatively, perhaps, it is that simple and they are just rationalizing why they are not willing to support TAVMA through active membership. Either way, it sounds like a definition is in order. A reasonable starting point is to look at three (3) points of inquiry: (1) What is appraisal management? (2) What is an appraisal management company? (3) What characteristics distinguish an AMC from a group – large appraisal firms – that shares some characteristics of AMCs, but not others? Another English lesson: In constructing definitions, it helps to first classify the thing being defined, and then, differentiate it from othe
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Appraisal Management Company (AMC) is a fairly recent mortgage term. AMC is the intermediary between the interested parties (lender, borrower, realtor, mortgage broker…etc) and the appraiser. AMC’s were created to uniform the appraisal process and help prevent mortgage fraud.
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An appraisal management company, therefore, is an outsourcing solution that is usually paid by a lender-client to act on the lender/client’s behalf to engage real estate appraisers and to perform the administrative functions involved in the appraisal ordering, tracking voyage vietnam
