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State considers regulating real estate appraisers

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High Five
Monday, November 30, 2009

The state legislature will consider whether or not to set new rules for real estate appraisal management companies.

Acting as middlemen, AMCs process transactions and orders from mortgage lenders and then hire the appraisers. Current guidelines block appraisers from working directly with mortgage brokers, but critics say AMCs still hurt appraisal quality and ultimately undervalue properties.

Several states passed new rules on AMCs. Oregon Rep. Paul Holvey, D-Eugene, told the Bend Bulletin he’s “very interested” in the issue and plans to hold a hearing on the subject in the House Consumer Protection Committee with possible legislation for the February special session.

Read more at the Bend Bulletin.

{biztweet}Oregom Real estate construction appraisal management companies Rep. Paul Holvey{/biztweet}

 

 

 

 
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