Effective 5-1-2009, ALL conventional loans MUST be ordered through a Appraisal Management Company. Leave it to the Feds to add one more layer of red tape to get deals closed along with a cut-off of ALL local information. I suppose as the months move forward we'll see if removing local appraisers from the transaction will be a good or bad thing for the clients. As information becomes available, I'll post more about these AMC's and how they relate to the transfer of property in Hide-A-Way Hills, OH. At first glance, my thoughts are this can't be a good.
Wednesday, May 6, 2009
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