Mark K
Elite Member
- Joined
- Jan 27, 2004
- Professional Status
- Certified Residential Appraiser
- State
- Indiana
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Has the quality of appraisals gone up since the AMCs took over?
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John Hassler
Senior Member
- Joined
- Jul 23, 2002
- Professional Status
- Certified Residential Appraiser
- State
- California
When I started as an investigator for the state in 2010 we were processing complaints with 2006-2008 era appraisals. There was a lot of misconduct in those reports resulting in high-level actions by the state.
With the rise in AMC use the number of complaints with misconduct decreased. However, it was amazing to see the number of incompetently prepared appraisals that made it through the AMCs quality control process. So much so that I don’t believe any AMC had more than a minimal QC process. Most seemed to have none.
So, if the question is “has the quality of appraisals gone up since AMCs took over” my response is “no, quite the opposite.”
With the rise in AMC use the number of complaints with misconduct decreased. However, it was amazing to see the number of incompetently prepared appraisals that made it through the AMCs quality control process. So much so that I don’t believe any AMC had more than a minimal QC process. Most seemed to have none.
So, if the question is “has the quality of appraisals gone up since AMCs took over” my response is “no, quite the opposite.”
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