AMCs are done soon

[Zoe]

CFBP and FTC will close that window.

 

[George Hatch]

Maybe

 

[Digger88]

I'm all ears is something new?

 

[glenn walker]

I'm all ears is something new?

No FTC ruled in this in Federal Courts , many years ago after Dodd Frank. AMC are legal and not going away anytime soon.

 

[George Hatch]

The govt can kill it. All it would take is prohibiting lenders from using any appraisal that they didn't directly engage. If it comes to pass that the govt thinks AMCs don't adequately protect the concept of appraiser independence and that the only way to get more accountability at the lenders is to deprive them of the AMC play then that could happen. The govt doesn't need to go after the AMCs directly; all the govt needs to do is make AMC appraisals unusable at the lender level. The market would sort itself out from there.

The prospect doesn't seem likely (TO ME) but then again, I might be 150% wrong about that.

 

[glenn walker]

There is nobody or agencie I am aware of who wants to eliminate AMCs. The Presidential task force does not have it listed on their agenda list nor does the FTC or CFPB. In fact most do not want banks to own and operate their own appraisal departments due to separating loan production and appraisers interest. With "racism" being target number one the agencies want appraisers as far away as possible from bank pressure. In summary -dont expect to see the AMC model going anywhere in the near future and in fact one of the largest also works in conjunction with the GSEs on data collection and providing AVMs, The future of Banks is less employees and less physical buildings and office space not adding additional employees and fixed costs. The Appraisal departments never made money for banks and lenders .

 

[George Hatch]

Back in 2005 nobody thought the MBs were ever going to be cut out of the loop, either. Right up until it actually happened.

 

[Tiffany Gibbons]

I'm all ears is something new?

Goodness, is someone maybe looking into Fannie's choice of 6 AMC vendors for the new "Value Acceptance" aka "Appraisal Waivers"? Could someone have finally made the connection? With a looming economy crash, is someone else thinking about potential bailouts? Taxpayers have too much to deal with already.

 

[Surf Cat]

I think the OP just finished up with shock therapy....and is aimlessly typing...

 

[djd09]

Back in 2005 nobody thought the MBs were ever going to be cut out of the loop, either. Right up until it actually happened.

wow pouring the kool aid...#fastapp