Comment from Accelerated Appraisals LLC

While it has been well documented that appraisal management companies have been siphoning off a significant portion of the Independent fee appraisers income, nothing has really been done about it. I have have submitted dozens of examples from AMC's offering fees to Appraisers that are well below what we were being compensated in the early 2000's. I have taken up the matter with the Oregon ACLB and was basically told that there's nothing they can do with regard to AMCs and their flawed structure in regards to C&R customary and reasonable fee Compensation to appraisers. There has been a fast race to the bottom as far as fees go. Independent fee appraisers were collecting anywhere between $450 and $700+ across the country for a URAR (full appraisal) prior to 2022 then in late 2022 when interest rates started to increase the overall mortgage volume decreased significantly. This resulted in appraisal management companies started lowering the amounts of compensation to fee appraisers by small increments until we have reached what is considered inndustrywide to be an insult to the profession. I have regularly submitted appraisal order requests from AMCs that exhibit fees in the $250-$350 range which is less than half of what we were being compensated 4+ years ago. These AMCs have been reducing compensation to drive down what they consider C&R fees for apppraisal services while collecting more from the actual lenders ( borrowers pay thiis fee) This is done nothing but reduce the accountability and overall quality of finished appraisal products supplied to the end-users. This is undermined the appraisal profession to the point that approximattely 20 to 30% of licensed and certified appraisers across the United States will be leaving the business within the next 18 months. This coupled with the fact that we are being forced to adopt a new appraisal format that is flawed and more time-consuming, is also causing appraisers to leave the profession. We need to have AMC regulations on a national level that have enforceable actiions and bring back the professionalism to the appraisal process. The appraisal industry has been hijacked and essentially held hostage by these so-called appraisal mmanagement companies which are nothing more than minimally regulated middlemen that suck off the incomes from appraisers like me.