Excerpt:
“The trouble with appraisal management companies is that many of the appraisers they contract are not local and not familiar with the area, said Claudine Claus, president & CEO of Home Financing Center, one of the largest independent, privately-owned mortgage lenders in South Florida.”
“Price and quality also come into play, she said. “The management company is earning a fee, and therefore the appraisers they contract are getting paid less. So they tend to be in a hurry or not very experienced.”
Full article here.