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Can a broker initiate an appraisal request through a lenderâ€™s designated appraisal management company (AMC)?

April 26, 2017AMC appraisal broker COMPANY designated initiate Management request

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Can a broker initiate an appraisal request through a lenderâ€™s designated appraisal management company (AMC)?

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• The AMC is specifically authorized by the lender to act on its behalf and the AMC is not acting on behalf of the mortgage broker, • The AMC selects, retains, and provides for payment of all compensation to the appraiser on the lenderâ€™s behalf, • The appraiser’s client is the lender and the appraiser correctly identifies the lender as the lender/client on the appraisal report, • The lender has policies and procedures in place that comply with the Code, and • The lender ensures that the AMC has policies and procedures in place that comply with the Code.