AMC Becomes "Signatory" To NCRC's Center For Responsible Appraisals and Valuations

AMCO is pleased to announce that they have qualified to be the first valuation management company to become a signatory to the National Community Reinvestment Coalition’s Center for Responsible Appraisals and Valuations. Before allowing any management firm to become a signatory it was imperative that they prove a level of independence and compliance much greater than either appraisers or lenders. AMCO thus far, is the only management company that can prove and verify two very important things for signatory status. First, neither AMCO nor any of its affiliated companies receive any downstream remuneration for an assignment on which it manages the appraisal. This is very different than bank or title owned management companies which profit from downstream products only when the loan transaction occurs and are, thus, interested parties. AMCO also had to demonstrate that it had the technology in place to track measurements of accuracy and compliance. AMCO has now met these criteria. As a signatory AMCO has agreed that:

• It will not “improperly influence” any valuation result,
• It will not “improperly retaliate” against any appraiser as a result of attempted improper influence,
• It will primarily, over a period of time, utilize NCRC signatory appraiser that are bound by the Code of Conduct.

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