Appraisal Management Companies Conflict of Interest
This was not written by me but by Rob Chrisman who is a director of Capital Markets. I found it very interesting since we have all own that the big banks have interests in the appraisal companies just like Countrywide did with Landsafe which the owned.
“How far can an appraisal management company go toward originating mortgages? We may find out shortly. It is well know that many large companies such as Wells and BofA have interests in AVM’s but recently a story has made the press about an appraisal company getting involved in mortgage banking. Is it a possible conflict of interest? Stay tuned.”