United Wholesale Mortgage Sued

[Non Sequitur]

The lawsuit we’ve all been waiting for? Here’s one blogger’s take:

The Appraisal Industry Shakeup: Why Arnold v. Appraisal Nation is the Lawsuit We've Been Waiting For

Is the appraisal industry finally changing? Explore the Arnold v. Appraisal Nation lawsuit, the truth about AMC fee splitting, and why homeowners deserve full transparency. Discover the AAS Gold Standard.

www.advancedappraisalsolutions.net

 

[George Hatch]

^^^ pretty good writeup except they mischaracterize the 3rd party MBs as being "lenders", which they are not.
Also traffics in the idea that AMCs control the entire mortgage appraisal market, which they don't.,

 

[chad hampton]

Pretty accurate write up.

AMC don’t control the entire lending market. Only about 80%. Which is what revaa touted in their website up until a few years ago. When, I assume, someone (maybe even someone from this board) told them to get that the hell off their site.

 

[djd09]

Pretty accurate write up.

AMC don’t control the entire lending market. Only about 80%. Which is what revaa touted in their website up until a few years ago. When, I assume, someone (maybe even someone from this board) told them to get that the hell off their site.

Appraisal Management Companies (AMCs) control a significant majority of the residential mortgage appraisal market, with estimates suggesting they handle 60% to as high as 90% of appraisals for lenders, growing rapidly since the 2008 financial crisis and the Dodd-Frank Act. While AMCs manage most of the process for lenders, particularly for Fannie Mae/Freddie Mac loans, some recent market shifts (like the pandemic) have temporarily empowered independent appraisers due to high demand, though AMCs remain dominant in workflow management and quality control.
Key Figures & Trends:

• Dominant Share: AMCs grew from a small percentage to potentially 90% of appraisals.

 

[chad hampton]

90%. Damn, I was finally wrong about something on here. And I was wrong on the conservative side. Even worse than I thought.

 

[djd09]

and out of the 90%...how much does revaa control...isnt their membership fee like 200,000 now