AMC's - What do they do?

[c w d]

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]

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]

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]

Check their websites.

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

 

[Michael Tipton]

Have you every considered researching their ownership/parent company online? All it takes is time.

 

[Claude From NY]

They provide

captive vendors and something about value added services.

 

[rescom]

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]

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]

They obviously have filled a need that lenders wanted.

TC

 

[Kevin Mc]

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.