Mortgage appraisals in Ohio come under House scrutiny

"Critics say these so-called appraisal management companies (AMCs) hurt not only state-licensed appraisers by taking most of their fees, but also mortgage applicants because their practices cause appraisers to cut corners and distort property values.

So state Rep. Stephen Slesnick, D-Canton, and the Ohio Coalition of Appraisal Professionals introduced Wednesday, May 26, a bill in the Ohio House that would regulate and license appraisal management companies under the Ohio Department of Commerce’s Real Estate Division."