What is an appraisal management company?
An appraisal management company oversees appraisers. The AMC generally administers the ordering and delivering of appraisals for mortgage lenders and mortgage brokers. They research the training of appraisers before selection, the quality of the appraisers work, history of complaints, areas of expertise and how much experience they have.
After HVCC and the Dodd Frank Wall Street reform and Consumer Protection Act of 2010 Fannie Mae and Freddie Mac required all appraisals be ordered through an Appraisal Management Company.
An AMC helps support appraiser independence and provides an additional tool for the lenders, brokers, banks, and loan officers. An AMC also is a key to eliminating pressure on appraisers.
You can find more information here from the Utah Division of Real Estate on the administrative Rules for an Appraisal Management Company.