Anyone Going To Valuation Expo ** Las Vegas In August ?

[chad hampton]

Yet they are

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RED SKY RISK SERVICES, LLC	DBA:
License #: FRNC-1237	Expires : 6/30/2026
City : HOPKINS	State : MN
Compliance Manager :	Phone : (952) 876-5397
Status : FEDERALLY REG	Compliance Manager Email: BRIAN.THOMAS@USBANK.COM

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AMC Database Search Results

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That’s a good example of differences in states rules and regulations. In North Carolina red sky is considered a federally regulated AMC. They do not hold the same AMC license that other AMCs due in my state. In yours they do.

 

[Zoe]

AI Overview

No, Appraisal Management Companies (AMCs) do not employ appraisers. Instead, they act as intermediaries, connecting lenders with independent contractor appraisers for property valuation services. AMCs maintain a network of licensed or certified appraisers and assign appraisal orders to them, ensuring a separation between the lender and the appraiser.
can i perform breast exams since they are not exempt...i cant stop laughing

I didn't think about using that line. I may pop in tomorrow and when I get kicked out use that line.

 

[glenn walker]

If you don’t see how AMC employing staff appraisers is a problem, then I don’t know what else I can say. It’s a fairly simple concept to understand.

AMCs aren’t lending institutions. I have no issue with lenders lending their own money doing whatever they want.

In fact, some AMCs don’t need to be registered in my state because they are subsidiaries of a lender. I think red sky is one. No issues with that, they are complying with the state law.

The problem is your trying to make the laws and guidelines fit your wish list relitigating the battles that appraiser had fought before and during the Dodd Frank hearings almost 15 years ago.

The appraisers thought by eliminating the mortgage brokers the AMCs would be their saviour. The Fed's punked the naive appraisers who didn't realize the AMCs were not their friends.Those poor old crusaders are now mostly dead and gone.

 

[chad hampton]

The problem is your trying to make the laws and guidelines fit your wish list relitigating the battles that appraiser had fought before and during the Dodd Frank hearings almost 15 years ago.

The appraisers thought by eliminating the mortgage brokers the AMCs would be their saviour. The Fed's punked the naive appraisers who didn't realize the AMCs were not their friends.Those poor old crusaders are now mostly dead and gone.

You’re another one that argues just argue. There has to be a reason why none of them did it when AMC legislation was first written. It was unthinkable. AMC’s were tasked with managing a panel of fee appraisers. We used to be called partners. When’s the last time you heard that word?

Here’s the difference, I’ve seen first hand, up close and personal, the level of unethical behavior that they bring to the table. I’ve seen the sort of element they hire to do their bidding.

They all missed their calling, they would’ve made fantastic DC swamp creatures.

 

[chad hampton]

So, no update from anyone here on day 1 of the AMC expo?

 

[glenn walker]

Your getting it live from the casino floor.

 

[George Hatch]

You just don’t understand the concept of a third-party or a middleman. It’s OK, not everybody has ability to understand that concept.

3rd party was never required. What's required is isolating the appraiser from the loan origination. Whether in-house or among the outside loan originators.

What's the difference in "isolated from the loan origination" between a lender's staff CR and an AMC's staff CR or a fee shop's staff CR?

"Isolated from the loan originators" is the requirement. Not salary vs fee split.

 

[glenn walker]

3rd party isn't required. What's required is isolating the appraiser from the loan origination.

You can literally place the loan officers behind a thick carpeted cubicle walls then the appraisers on the other side and be compliant. The prohibition is not allowing the loan officers to discuss or directing appraisal orders to specific appraisers so it's really pretty easy to be compliant.

 

[glenn walker]

The real problems are when horny old appraisers get seduced by a hot 30 year old loan officer who then owns him.

We witnessed quite a few suspicious relationships over the years develop between loan officers and appraisers
and even with crooked Underwriters too. Never underestimate how cunning these gals can be. Lol )

 

[TC]

The real problems are when horny old appraisers get seduced by a hot 30 year old loan officer who then owns him.

We witnessed quite a few suspicious relationships over the years develop between loan officers and appraisers
and even with crooked Underwriters too. Never underestimate how cunning these gals can be. Lol )

Yeah, I'm sure that happened.