The appraisal industry has seen significant fallout since the 2008 financial crisis, with many appraisers leaving due to stagnant pay and increasing pressures from appraisal management companies.
The Dodd-Frank legislation of 2010 increased the role of appraisal management companies, creating tensions as appraisers feel the companies have negatively impacted the profession by taking larger fees.
Bill Garber emphasizes that the transition from the Biden administration to the Trump administration will bring changes in priorities, particularly in regards to housing enforcement issues.
Appraisers advocate for more transparency in closing documents, highlighting concerns about the impact of competitive bidding driven by AMCs on the integrity and pay of the appraisal profession.
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