Jeff Schurman is the executive director of the Title Appraisal Vendor Management Association (TAVMA), the trade association of the real estate settlement services vendor management industry. He is also an independent consultant and founder of Schurman Research Company, a leadership and business development advisory service.
Have you ever wondered about the origin of Appraisal Management Companies (AMCs) reviewing appraisal reports before sending them on to clients?
Much of the current day rhetoric about AMCs and "review appraisals" revolves around a contention that a "review of an appraisal report" and a "review appraisal" are one in the same thing. Comments in the blogosphere and relevant sections of some states' AMC registration acts suggest that they may be one in the same. But it wasn't always this way. I should know: I was the first ever AMC review department manager on the face of the earth.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.