Finance
A Virginia lender's 'appraisal management company' (AMC) is used to:
ASpeed up closings
BIndependently manage appraisal orders to ensure appraiser independence from loan production staff✓ Correct
CReduce appraisal fees
DReplace all licensed appraisers
Explanation
AMCs were created to ensure appraisal independence as required by Dodd-Frank and appraisal independence rules. They manage the appraisal ordering process and shield appraisers from pressure by loan officers.
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