Property Valuation
What is an 'appraisal management company' (AMC) and how does it affect Pennsylvania real estate transactions?
AA Pennsylvania company that manages property appraisals for insurance purposes only
BA company that manages the appraisal process for lenders, serving as an intermediary between lenders and independent appraisers to ensure appraiser independence✓ Correct
CA PREC-licensed firm that supervises all Pennsylvania appraisers
DAn AMC is a large appraisal firm employing staff appraisers for lender work
Explanation
Appraisal Management Companies (AMCs) serve as intermediaries between lenders and independent appraisers, managing the ordering, tracking, and review of appraisals. Established after the 2008 financial crisis to ensure appraiser independence from loan officers, AMCs are now the primary channel for residential mortgage appraisals in Pennsylvania.
Related Pennsylvania Property Valuation Questions
- Economic base analysis in Pennsylvania real estate market analysis examines:
- The 'plottage value' or 'assemblage' premium in Pennsylvania real estate occurs when:
- A land residual analysis in Pennsylvania appraisal is used to:
- When appraising a Pennsylvania historic building, the appraiser should:
- The principle of conformity holds that:
- An appraiser in Allegheny County (Pittsburgh) must obtain market data for the subject neighborhood's:
- A Pennsylvania appraiser is engaged to value a proposed apartment complex not yet built. This is called a(n):
- An appraisal conducted for a Pennsylvania federally related mortgage transaction must be performed by a:
Practice More Pennsylvania Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Pennsylvania Quiz →