Maintaing Appraiser Independence for Lenders.
The Dodd-Frank and Appraiser Independence Requirements (AIR) mandates that lenders separate anyone on the sales side of the business
(loan originators — the loan officers and loan processors) from appraisers, or that they put in place "prudent safeguards" to ensure
that a commissioned employee can't influence an appraiser.
The answer doesn't have to be an AMC.
On the surface, an obvious solution might seem to employ the services of an appraisal management company (AMC) to act as a firewall
between the loan origination staff and the appraiser, but for many lenders that level of separation isn't practical or even desired.
Plus, the overhead of the appraisal management company means an appraiser has to be willing to work for less than their normal fee.
Using a system like Appraisal Firewall or the Mercury Network solves this problem by operating in a "double blind" mode that hides the
identity of the appraiser and the lender, making it easy for the two to communicate while still maintaining compliance. For lenders that
still allow loan originators to communicate directly with appraisers (which is allowed in many situations) they'll appreciate the audit
trail of communications that ensures complete transparency during the entire process. Simply put: there is a solution that meets your needs
as a lender no matter what level of separation you decide is prudent.