Human vs. Automated Appraisal Management Services
As technology advances, artificial intelligence and automation are playing an increasingly larger role in a variety of industries. One such sector is appraisal management, an industry that facilitates real estate valuation by providing services such as selecting an appraiser for mortgage lenders and delivering the appraisal report to them. Doing so helps facilitate an efficient appraisal process and provides a legally required separation between the lender and the appraiser.
One important service appraisal management companies, or AMCs, provide is the review of reports submitted by appraisers. AMCs have review departments that play a quality control role in the management process. These departments: