Who pays AMC on VA assignment?

[Zoe]

Ok, so VA sets fee to appraiser on assignment, in which fee is negotiable in a few cases. Who pays AMC when VA engages appraiser and lender uses AMC to order it?


We know AMC's skim fees. Who pays them on VA appraisals? Their momma?

 

[Zoe]

Where does the money go? It should be on truth in lending disclosures. Where does it go?

 

[Zoe]

AMC tried to mimic VA system. It is total failure because of bias. Like me being real estate agent and saying I think your house is worth $200k just to get listing when I know it only worth $170K.

 

[alebrewer]

VA has direct engagement for appraisers/appraisals. AMC's are not involved. Fee is paid by the lender.

 

[glenn walker]

T

Ok, so VA sets fee to appraiser on assignment, in which fee is negotiable in a few cases. Who pays AMC when VA engages appraiser and lender uses AMC to order it?


We know AMC's skim fees. Who pays them on VA appraisals? Their momma?

A Need to Know Basis and you are not listed in that category : ) LMAO

 

[Ariba]

AMC cannot order VA Appraisals. Period.

 

[Zoe]

AMC cannot order VA Appraisals. Period.

We got that Ariba. Who pays them if they manage it? Have you ever heard of privity? It is crucial.

 

[RSW]

The only AMC that handles any of my VA appraisals is Amrock. QL owns them and pays them. Not me.

 

[Zoe]

The only AMC that handles any of my VA appraisals is Amrock. QL owns them and pays them. Not me.

Privity is involved there between lender and AMC. You have no privity to AMC. Your privity is to lender and VA. Your primary privity is to VA. Lender is also primary. You have no privity to AMC

 

[Zoe]

Privity exists between lender and AMC.