If you are a lender, a mortgage broker, or a real estate professional and you have ever wondered who manages the appraisal process between you and the licensed appraiser, the answer is an appraisal management company, or AMC. And if you are not paying close attention to which AMC you are partnering with, you may be carrying more risk than you realize. The Role of an AMC in the Lending Process At its core, an AMC serves as an intermediary between the lender and the appraiser. It manages the ordering, assignment, review, and delivery of real estate appraisals, ensuring the process meets regulatory standards and protects appraiser independence. Before AMCs became standard, lenders often had direct relationships with appraisers. That created serious conflicts of interest. The 2008 housing crisis exposed what happens when appraiser independence is compromised: valuations get inflated, risk gets mispriced, and the entire lending ecosystem suffers.…