Virginia Regulatory Town Hall
Agency
Department of Professional and Occupational Regulation
 
Board
Real Estate Appraiser Board
 
chapter
Appraisal Management Company Regulations [18 VAC 130 ‑ 30]
Action Initial Appraisal Management Company Regulations
Stage Proposed
Comment Period Ended on 3/28/2014
spacer
Previous Comment     Next Comment     Back to List of Comments
3/25/14  7:22 am
Commenter: John Sinnen

Reasonable and Customary
 

AMC's are charging the customer 25% ($500 versus $350 - $400) more per appraisal than prior to the existence of AMC's and paying the appraiser 25% less ($300 versus $400) resulting in more experienced and more qualified appraisers avoiding AMC work while "out of town" far away appraisers and lesser experienced and lesser qualified appraisers doing work for appraisers. A standard and Reasonable and Customary fee based on the standard VA fee for the state should be implemented to stop the enrichment of AMC's at the expense of borrowers and appraisers.

CommentID: 31490