No nonsense here brother. I'm blessed with a difficult service area and I don't work for the slave wages other people are forced to. Yet. And AMCs were here long before the HVCC. I remember Value-it (Wells Fargo's AMC) offered $275 for 1004 around here 10 years before the Home Valuation Code of Conduct passed, I believe Landsafe (Countrywide's AMC) offered the same. Most of my clients are offering $550 for the same report now. That legislation didn't require the use of AMCs however they did an outstanding job of marketing themselves through "a fear campaign" telling lenders across the nation that the feds were going to hammer them if they didn't order their appraisals through an AMC from that point forward. But they were coming for us eventually anyway, they are too convenient a vehicle for off-loading liability to not have spread like a plague. They can be easily manipulated by their lender clients while masking the appearance of impropriety's taking place behind-the-scenes. And when the music stops, the lenders get to blame all their failures on third parties. The credit default swaps will be called in and the AMC's will fold, only to be reconstituted by the same players under different names.
