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What will become of lender owned AMCs?

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KYLECODY

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Arizona
Curious on thoughts with the new proposals about what will happen to the lender controlled AMCs like Landsafe, RELS, etc?

Will they disappear completely or will the businesses paper trail/ownership details just have to be "restructured" so they are deemed independent of the lender?
 

Joyce Potts

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Curious on thoughts with the new proposals about what will happen to the lender controlled AMCs like Landsafe, RELS, etc?

Will they disappear completely or will the businesses paper trail/ownership details just have to be "restructured" so they are deemed independent of the lender?

You make a great point.:clapping:
 

Midwest Guy

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Missouri
They will be brought in (merged) as fee panels.

Curious on thoughts with the new proposals about what will happen to the lender controlled AMCs like Landsafe, RELS, etc?

Will they disappear completely or will the businesses paper trail/ownership details just have to be "restructured" so they are deemed independent of the lender?
 

Mr Rex

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Seems like First American could become King Kong under Cuomo's watchful eye. Maybe BOA would own a big part of Wachovias AMC, while Wachovia would own a big part of Wamu's AMC, while Wamu would own a big part of Wells Fargo's AMC, while Wells Fargo would own a big part of Countrywide's AMC, which is a subsidiary of BOA and round and round we go:new_smile-l: Wee doggywoohoo
 

Midwest Guy

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I thought I read "Any intersest in."

Seems like First American could become King Kong under Cuomo's watchful eye. Maybe BOA would own a big part of Wachovias AMC, while Wachovia would own a big part of Wamu's AMC, while Wamu would own a big part of Wells Fargo's AMC, while Wells Fargo would own a big part of Countrywide's AMC, which is a subsidiary of BOA and round and round we go:new_smile-l: Wee doggywoohoo
 

Mztk1

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Florida
You did read "any interest in" but then the paragraph below point 6 in section VI makes the proviso that lenders can own up to 20% of the AMC they work with...a neat little switcharoo.
 

RICHARD D. FRANK

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they will have to become stand alone.

and distance themselve and their relationships with the former owners. right, and conform to the % guidlines
 
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Joyce Potts

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The irony and hypocrisy of the AMC's (especially those owned or affiliated by lenders in any way, shape for form) promoting themselves as the ultimate firewall and safety net cannot be overlooked or underestimated as new reforms move forward.

If that's allowed to happen, it's five steps forward, six steps back. Get real.
 

GCJim

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The irony and hypocrisy of the AMC's (especially those owned or affiliated by lenders in any way, shape for form) promoting themselves as the ultimate firewall and safety net cannot be overlooked or underestimated as new reforms move forward.

If that's allowed to happen, it's five steps forward, six steps back. Get real.

Agreed. Unfortunately, I'm afraid that ANY entity wielding the big 'carrot' of a high dollar volume of appraisal work is bound to cause problems. The carrot is just too tempting for those unscrupulous lenders and appraisers among us that have no interest in playing by any rules.
 

D-Max

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After some research I'm sure a few of them will survive. Unless the agreement becomes written into some type of law Fannie and Freddie are only 45% of the market. The other 55% will still be able to do as they please as long as the loans don't get dropped in Fannie and Freddie's lap.
 
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