Oregon lawmakers are considering whether to set new rules for
appraisal management companies — a growing but unregulated sector in
the real estate industry. Known as AMCs, these companies act as
middlemen, taking money and appraisal orders from mortgage lenders and
then hiring appraisers.
Richard Hagar, a Washington appraiser and real estate expert witness, says about 10 states have already passed new rules for AMCs, while 10 others are following suit. He says the company Valuation Logistics demonstrates the problems of leaving AMCs unregulated. There have been complaints about nonpayment by the firm, the address listed on its Web site is no longer valid, and the company appears to be the target of a criminal investigation
For more, see www.bendbulletin.com.
Richard Hagar, a Washington appraiser and real estate expert witness, says about 10 states have already passed new rules for AMCs, while 10 others are following suit. He says the company Valuation Logistics demonstrates the problems of leaving AMCs unregulated. There have been complaints about nonpayment by the firm, the address listed on its Web site is no longer valid, and the company appears to be the target of a criminal investigation
For more, see www.bendbulletin.com.
