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 appraisers. Banks are taking over the appraisal business undermining the objectivity and quality of appraisal reports bytaking 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 without doing any of the hard work of appraisal reporting. AMCs have been an unintended consequence of Dodd-Frank which had laudable intentions and which I generally support. Compliance officers who are not paid by commissions can best regulate appraisers. Banks put pressure on appraisers which constitutes a direct conflict of interest; the exact opposite of what Dodd-Frank intended.