Appraisal Management Specialists, LLC

To Whom it May Concern,
"margin: 0in 0in 0pt">Appraisal Management Specialists, LLC has received the complaint filed by *** * *** Appraisal Management Specialist, LLC is an appraisal management company, not the actual appraiser. Our business is coordinating the flow of appraisals from lender to appraiser. The complaint seems to be with the appraiser, *** ***, not Appraisal Management Specialist, but we let see if we can help.
Appraisal Management Companies are highly regulated by Dodd-Frank. There are procedures we must follow. In this case, we have a set of steps that generally are followed
First, We had not heard any complaints from *** *** prior to receiving the letter from the Revdex.com.
The procedure needing to be followed is as follows. The concerns of the client, *** ***, will be forwarded on to the appraiser along with the his suggested comparables provided to the Revdex.com once we receive. The appraiser then has the opportunity to address them. There are guidelines that must be followed in regards to these concerns. They cannot suggest final value by dollar amount, or say it should be higher or lower. Prior appraised values do not come into play either, as it’s the current comparables that derive the value
Should the appraiser not concur with *** ***, then we would request a review of the appraisal by a second independent appraiser
If the reviewing appraiser feels there is a flaw in this report, then guidelines would allow us to order a new appraisal report
Refunding the client, *** *** is not an option as guidelines preclude Appraisal Management Companies from refunding appraisal fees when the client feels the report comes in at an incorrect value with the support of a review
Please provide the comparable sales *** *** refers to in the letter in order for us to ask the appraiser to review
Thank you***
*** ***
President / Owner
Phone: 414-803-Fax: 888-879-