Since when did residential real estate appraisers begin to paint big, red bull's eyes on their backs?  I think that they started passing around the paint when the Appraisal Management Companies (AMC's) started to take over the appraisal assignment process reigns, and with May 1st looming there is a lot of red paint on the shelf.

I have to admit that I have not read many of the AMC agreements in their entirety, or their indemnity provisions, and being a commercial appraiser I haven't been faced with having to make a decision to accepting no business from them or indemnifying them on their terms.  My first reaction after having seen some of the indemnity provisions was No Way!  I told myself that I wouldn't sign those agreements no matter what.  Food or no food, however, as yet has not been a factor in my decision-making.

The HVCC has been reborn in the 71 page "Proposed Interagency Appraisal and Evaluation Guidelines" see http://www.federalreserve.gov/newsevents/press/bcreg/20081113a.htm.  If you are an appraiser you had to know that some "guidelines" of this type were on the way.   

Will requirements for bonding keep appraisers honest and force bad appraisers out of business?  Or will it just be another requirement that doesn't accomplish anything?  Since this original posting, Appraisal Port has stepped back from their Amended  contract, what's next?

I just got my e-mail notice today that in order for me to use AppraisalPort I need to agree to their new "amended" agreement.  I haven't read it, but I am assuming that the amended agreement takes care of any and all issues regarding their use of my appraisal data for whatever purpose they like while it forces me into arbitration if I have a problem.  In my opinion provisions like these will continue to keep appraisers down, and continue to take advantage of their hard work.