There have been complaints that AMCs pocket a large portion of the appraisal fee, choose inexperienced appraisers who are willing to work for less money or who are from out-of-town and aren't familiar with the neighborhood, Grabel says. All these ultimately affect their valuations.Borges counters by saying that AMCs have been around a long time, and there is an important place for them in the industry, but trade organizations -- like the Appraisal Institute -- do try work against any situation that encourages the use of inexperienced appraisers.
Problems Persist, But Appraisals Are Improving
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