Appraisal Compliance is a must for all lenders doing mortgage business today. With the HVCC, FHA appraisal Compliance, OTS and OCC regulations there is simply no way to get around not ensuring an arms length appraisal transaction.
"Over the past few months appraisal management software companies have sprung into action trying to get lenders to manage the process themselves and bypass appraisal management companies."
The selling point is that if you take control of the appraisal process internally that you will have a better overall appraisal process and can still hold on to some control.
This may reign true in some cases however generally speaking the idea of self managed appraisal process is not ideal, nor should it be looked at as a long-term option for a company geared towards growth and on good terms with an investor.
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