Abolish Appraisal Management Companies which are cash cows for banks at the expense of independent appraisers.

Abolish Appraisal Management Companies which are cash cows for banks at the expense of independent appraisers. Banks are taking over the appraisal business undermining the objectivity and quality of appraisal reports by taking away the meritocracy of the small business of appraisers. The marketplace should set fees of appraisers, not the banks who are profiting by taking a cut of the appraisal fee without doing any of the hard work of appraisal reporting. They record this fee in a fraudulent manner at closing. The homeowner is completely in the dark and does not understand how the banks profit at the expense of the appraiser. Compliance officers who are not paid by commissions can best intercept and prevent corruption. AMCs are an unintended outgrowth of Dodd-Frank. Abolish them!