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Loan Modification

: Mortgage Lender Implode-o-Meter

Mortgage appraisals in Ohio come under House scrutiny

By Implode-Explode Heavy Industries

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"Critics say these so-called appraisal management companies (AMCs) hurt not only state-licensed appraisers by taking most of their fees, but also mortgage applicants because their practices cause appraisers to cut corners and distort property values.

So state Rep. Stephen Slesnick, D-Canton, and the Ohio Coalition of Appraisal Professionals introduced Wednesday, May 26, a bill in the Ohio House that would regulate and license appraisal management companies under the Ohio Department of Commerce?s Real Estate Division."

Full post as published by Mortgage Lender Implode-o-Meter on May 30, 2010 (boomark / email).

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