Abolish Appraisal Management Companies. They provide no service instead they provide a tool for the banks to make money off of the appraiser's hard work.
Why is this important?
Appraisers are being ripped off by the banks. Many banks have created AMCs which take a big bite out of the appraisal fee yet the homeowner thinks the fee goes to the appraiser at closing. Instead the fee goes to the 'Appraisal Management Company' or the bank which is a new layer of bureaucracy providing no service. The AMC and the banks live off the back of the appraiser without doing any of the work.
