This past February, the American Society of Appraisers and the National Association of Independent Fee Appraisers (NAIFA) contacted the Consumer Financial Protection Bureau to explain the importance of itemizing the separate fees collected in the appraisal process for the prototype Good Faith Estimate (GFE) and settlement forms.
The CFPB continues to test different variations of the forms, the ASA and NAIFA sent another letter to reiterate the importance of separating the AMC fees from what is paid to the appraiser.
read the letter here:
March 30: Read the NAIFA and ASA Follow-Up Letter to CFPB Re: Disclosure of AMC Fee on Revised GFE/Settlement Form
