MyAMC, LLC Offers Exclusive Program for Reverse Mortgage Appraisals

Company Extends a New Offering to Mitigate Costs to Seniors and Lenders.

DALLAS, April 2, 2019 — MyAMC, LLC, a nationwide valuation services provider, announced today a unique program offering a second appraisal at no additional cost to the Borrower if the first does not pass the Federal Housing Administration’s collateral assessment.   The new offer arrives on the heels of the latest policy changes enacted by the FHA to require a second appraisal when the first appraisal does not meet their initial requirements.  This has created a challenge within the industry, often forcing the Borrower to pay for the cost of the second valuation or, for the lender to absorb the cost or otherwise lose the transaction.  Recognizing this as a burden to the seniors that reverse mortgages are designed to help, MyAMC is determined to stand behind the quality of its appraisals and offer this program as a solution to the industry and their customers.

Since 2004, MyAMC has offered high-quality residential valuation services nationwide servicing mortgage origination channels such as banks, credit unions, wholesalers and brokers.  Additionally, the company offers post-closing quality control and compliance audit services to a broad range of lenders and their investors.  “Having previously worked in the reverse mortgage industry, we are aware of the benefits but also the on-going challenges of delivering such a product as a potential retirement solution”, said Sean Bobbitt, Managing Director of MyAMC.  “We have decided to offer a program that we feel will benefit both seniors and the financial professionals providing this service”.

MyAMC is dedicated in continuing to provide the highest quality valuation services compliant with investor, state, and federal requirements.  The new program is available immediately.  For additional information, contact Kim Wagoner kim.wagoner@myamc.com at (214) 572-2537 or visit www.myamc.com.