Comment from Kapoulas, Mitchell

Transparency is fundamental to public trust and consumer protection. As a licensed appraiser, I disclose the fee I receive for performing an appraisal. Lenders and Appraisal Management Companies (AMCs) should be held to the same standard by separately disclosing the amount paid to the appraiser and the amount retained by the AMC. Most consumers reasonably believe the appraisal fee they pay goes to the professional performing the appraisal. In many cases, they are unaware that a significant portion of that fee may be retained by an intermediary, despite having no choice in selecting the appraiser. Without full disclosure, consumers cannot make informed decisions or understand where their money is going. Requiring separate disclosure of the appraiser’s fee and any AMC administrative fee would promote transparency, strengthen public trust, and enhance consumer protection. Consumers deserve to know who is being paid and for what services.