independent appraisers report being paid relatively
less than they earned prior to the introduction of the appraisal independence standard that
gave rise to increased use of AMCs. Appraisers in some areas may be reticent to accept appraisal
requests due to the compensation passed through to them. Delays in completing an origination or
upcharges for rush appraisals to meet closing timelines may result and are ultimately borne by the
borrower through higher origination costs.
My takeway from that is the simple notion that appraisers eschew working for AMCs, because they are paid less but the end result is the BORROWER OFTEN PAYS MORE TOTAL (origination costs.) So the solution is to double down and make appraisers make even less money with Hybrids?? Great notion. Treasury authors are idiots...another committee created stupidity
Secretary Mnuchin and Counselor Phillips would like to thank Treasury staff members for
their contributions to this report. The staff’s work on the report was led by Jessica Renier
and W. Moses Kim, and included contributions from Chloe Cabot, Dan Dorman, Alexandra
Friedman, Eric Froman, Dan Greenland, Gerry Hughes, Alexander Jackson, Danielle
Johnson-Kutch, Ben Lachmann, Natalia Li, Daniel McCarty, John McGrail, Amyn Moolji,
Brian Morgenstern, Daren Small-Moyers, Mark Nelson, Peter Nickoloff, Bimal Patel,
Brian Peretti, Scott Rembrandt, Ed Roback, Ranya Rotolo, Jared Sawyer, Steven Seitz,
Brian Smith, Mark Uyeda, Anne Wallwork, and Christopher Weaver.
dwarfed by the lending pipeline
Perhaps not for much longer.
