Customary and reasonable fees paid to appraisers as of April, 1

[SalRoka]

What is the name of your state (only U.S. law)? VA

Got a question. If anyone is familiar with AMC's (appraisal management companies) this is where 70% to 90% of all appraisals are being ordered through. They hire the appraiser for $175-$250 and charge the lender/borrower $400-$600 and keep the difference. The Frank-Dodd bill

Dodd?Frank Wall Street Reform and Consumer Protection Act - Wikipedia, the free encyclopedia

supposedly mandates appraisers be paid C&R fees as of April 1, 2011. Does anyone see any reason they WILL pay C&R? Alamode posted a fee survey here:

http://www.mercuryvmp.com/documents/Free_AFR_February_2010.pdf?ClickID=AFRDOWNLOAD&ClickThruEmail=&ClickThruCustomerNumber=0

What if they don't pay C&R what recourse would an appraiser/group of appraisers have?

Im a noob so be gentle if I am way off asking this type of question. No lawyers available on an appraisal forum I frequent and C&R has been hotly debated for months now. Any input is appreciated.

 

[Mile High Trout]

Good one Sal Roka,

It will be interesting to see if some responses come in.

Also, I just wanted to link the whole thing together.

Appraisers Forum - Real Estate Appraisal Forums / The thread is linked in a member only area, although you can view quite a bit of AF material without having to log in, and membership is available to anyone.

We bounced over from the Appraisers Forum. Appraisers have been in heated debates about this for months. Thousands of letters, even tens of thousands of appraiser letters and complaints have been sent regarding this issue.