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AMC's - What do they do?

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c w d

Thread Starter
Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
I'm curious about what exactly AMC's do. Has anyone worked for an AMC? Can someone give an indepth explanation of all the services they provide to their client?
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Sure.

they charge the lender $350-400 for an appraisal and then go fishing for the cheapest fastest hack out there. In you market I will guess they are paying $125-150 for a URAR with a 24 hour turn time. Complexity is a non-issue. Perform fast and cheap and they will keep throwing you bread crumbs. any other questions?
 

c w d

Thread Starter
Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
I know what they charge and what they pay. Do they do anything other than receive appraisal orders, assign the order and get the appraisal back to the client?
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
Check their websites.

many offer a variety of services (title etc....).......
 

Michael Tipton

Senior Member
Joined
Sep 25, 2005
Professional Status
Certified Residential Appraiser
State
Florida
Have you every considered researching their ownership/parent company online? All it takes is time.
 

Claude From NY

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
New York
They provide

captive vendors and something about value added services.
 

rescom

Senior Member
Joined
Jul 30, 2007
Professional Status
Certified General Appraiser
State
Missouri
I know what they charge and what they pay. Do they do anything other than receive appraisal orders, assign the order and get the appraisal back to the client?

Nope. Thats pretty much it.
 

Doug Wegener

Senior Member
Joined
Apr 14, 2005
Professional Status
Certified Residential Appraiser
State
Oregon
Not much more

I know what they charge and what they pay. Do they do anything other than receive appraisal orders, assign the order and get the appraisal back to the client?

They are a middle man. They generate a order and fax it over to you.
Later they pressure you to get the work done fast.

They dont do much more than pick up the phone and tell you to go do it and say hurry up.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
They obviously have filled a need that lenders wanted.

TC
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
They obviously have filled a need that lenders wanted.

TC

No doubt. It seems to have served them well (besides the billions of bad loans) as they didn't have to pay health benefits for in-house folks anymore.
 
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