Overcoming challenges of borrower-ordered appraisals

A better way to shop for mortgages

Having borrowers purchase appraisals directly from appraisers is not a good idea because borrowers could shop for the appraiser that would do the borrower’s bidding. But in purchasing appraisals through appraisal management companies, borrowers would have very little leverage — much less than lenders because each borrower transaction would be a one-shot deal.