In the years 2008 – 2010 there are going to be extensive changes involving the interaction between lenders, mortgage brokers and appraisers. These changes have been brought about due to a failure of our current system. As a result there have been historic settlements and numerous new state and federal laws governing the interactions. Life for the appraiser will never be the same again. This course will explain:
• The reason for the change
• An overview of the historic settlement agreement between the New York Attorney General and Fannie Mae/Freddie Mac
• That the HVCC isn’t new, just an update to existing Federal Law
• AMC core business proposition
• Different types of AMC ownership
• Various claims by AMCs
• Existing federal laws that govern the AMCs
• New pressures that lenders, mortgage brokers and borrowers will present to the real estate appraiser
• How the appraiser can protect themselves from the new problems and pressures.
Course Objectives
As a result of taking this class you should:
1. Understand the reasons for the AMCs
2. Explain the different types of AMC
3. Understand the various claims by AMCs
4. Have a basic understanding of the federal laws and rules governing the banks, appraisers and AMCs
5. Recognize the potential problems before they impact the appraiser.

This class has been approved for Continuing Education (CE) credits.
(3 Hours)