Editor’s Note: This content is based on a HousingWire Daily Podcast that aired in November 2025.  

By Andrew Bough 

Many assume appraisal management companies (AMCs) emerged after the 2008 financial crisis, but their roots extend much further. AMCs first appeared in the 1960s, created largely for operational convenience as lenders sought more efficient ways to coordinate scheduling, appraisal management, and quality control through specialized third-party partners. 

The 2008 financial crisis fundamentally reshaped the AMC landscape. Concerns over appraiser independence and valuation quality prompted significant regulatory reforms, including the Home Valuation Code of Conduct (HVCC) and the Dodd-Frank Act. These measures formalized and expanded the role of AMCs—transforming them from operational facilitators into essential safeguards for compliance, independence, and integrity in the valuation process. 

Today, leading AMCs play a strategic role by ensuring high-quality service, protecting appraiser independence, and supporting lender confidence in an increasingly complex regulatory environment. 

Building a National Foundation for Quality and Consistency 

Class Valuation has grown to become the largest AMC in the nation. Our scale enables us to recruit and partner with top appraisers nationwide, including in traditionally hard-to-serve markets such as Maine and the Dakotas. These areas often face valuation challenges stemming from low appraiser density, long travel distances, limited comparable data, and seasonal accessibility issues. While smaller regional AMCs may focus on local needs, our national presence positions us to address complex valuation demands across all markets and lending channels. 

Our product catalog is also one of the most comprehensive in the industry. We maintain specialized panels with expertise in new construction, complex properties, and high-value homes. Assigning the right appraiser with the right experience is essential, particularly for atypical or nuanced properties. 

We have additionally built the industry’s largest staff-appraiser network—approximately 300 full-time professionals working directly for Class Valuation. This structure provides a level of quality control and consistency that is difficult to achieve through third-party contractors alone. Combined with our extensive national partnerships, we deliver faster service, stronger relationships, and a more consistent experience. 

Together, our reach, specialization, and scale demonstrate how modern AMCs can drive quality—not merely manage process. 

Dispelling AMC Myths: More Than a Middleman 

One of the most persistent misconceptions about AMCs is that they simply function as middlemen, adding time and complexity. While that may be true for some providers, strong AMCs deliver meaningful value. 

We help appraisers access new opportunities while supporting them with advanced technology, training, and streamlined workflows. For lenders, we ensure independence and compliance, safeguarding against regulatory and reputational risk. 

The core mission of AMCs has always been to protect appraiser independence. That purpose remains central to our role today. 

Why Modernization Matters Now 

During the refinance boom of 2020–2021, appraisal quality and turnaround times became significant challenges. In today’s slower market, the industry has the opportunity to invest in modernization initiatives that will pay dividends when volume returns. 

Although hybrid reports, property data inspections, and alternative valuation products have existed for years, adoption has been limited. As demand increases again, organizations that invest early in modernization will be better positioned to compete. 

Modernization is not about replacing appraisers—it’s about equipping them. A shift toward risk-based lending further strengthens the case for modern valuation methods, enabling lenders to tailor processes to loan risk and improve efficiency. These changes also set the stage for the next major industry advancement: data standardization.  

The UAD 3.6 Transformation: A New Digital Standard 

The Uniform Appraisal Dataset (UAD) 3.6, set to begin rolling out in 2025 with full adoption by 2026, represents one of the most significant shifts in valuation standards in decades. For years, appraisers have relied on forms designed in the 1980s—originally for typewriters. UAD 3.6 moves the industry toward a fully digital, data-driven structure. 

This transition will affect every participant in the valuation ecosystem, from appraisers and inspectors to lenders and underwriters. It aligns closely with modernization efforts that have gained momentum since 2020. 

As hybrid and bifurcated models expand through 2025 and beyond, the industry will see improved efficiency and better utilization of the appraisal workforce—critical during future high-volume cycles. 

By establishing a digital-first framework, UAD 3.6 also paves the way for broader integration of AI and automation into daily appraisal workflows. 

AI in Action: Smarter, Faster, More Consistent Appraisals 

While AI has become a buzzword across industries, its impact on valuation is real and measurable. At Class Valuation, we have incorporated AI throughout our operations. 

It enables appraisers to produce faster, more consistent reports by identifying likely revisions and flagging inconsistencies before they reach clients. Combined with the expertise of our staff, this technology has significantly reduced revision rates and eliminated last-minute report changes. 

In 2024, we introduced CVUE, a system that allows participating lenders to bypass manual reviews on up to 80% of reports. Leveraging advanced analytics and AI, CVUE identifies potential issues earlier, enabling lenders to save two to three days in their processing cycles—a significant improvement in overall turnaround times. 

Equally important, the technology reduces revision requests to appraisers by addressing problems at the source. CVUE enhances quality at the front end, creating a smoother, faster, and more reliable valuation experience for appraisers, lenders, and borrowers. 

Faster Appraisals on the Horizon—Not Shortcuts 

There has been significant industry discussion about 24-hour appraisal models.  While we support innovation, consistent 24-hour turn times across all property types and markets are not yet feasible. 

However, hybrid valuation models—where inspection and analysis are completed by different professionals—combined with the data standardization enabled by UAD 3.6, we are laying the groundwork for faster, more efficient processes. A common digital language for property data will reduce redundancy and streamline workflows across the ecosystem. 

As inspection methods evolve and technology advances, automation and AI will assist with data verification and quality control, allowing appraisers to focus on analysis and professional judgment. Over time, this will continue to shorten turnaround times, enhance consistency, and improve transparency for lenders, appraisers, and consumers. 

The Next Chapter: AMCs as Strategic Partners 

As COO of Class Valuation, my focus—and the future of the AMC industry—is on raising the bar for quality, service, and innovation. The role of AMCs is shifting from vendor to strategic partner. With every assignment, we manage risk, protect lender and borrower confidence, and help shape the overall experience. 

Despite concerns that technology may replace human expertise, I believe the future of valuation is strong. Innovation will eliminate inefficiencies while elevating the highest-performing professionals and organizations. Consolidation is coming, and AMCs that embrace technology, quality, and modernization will lead the industry forward. 

For those questioning the long-term viability of this field, my message is simple: it is an exciting time to be in valuation. As modernization reshapes the industry, human expertise remains essential—and will be amplified, not diminished, by the tools that support it. 

Andrew Bough 
Chief Operating Officer, Class Valuation 
Certified Appraiser with more than 30 years of industry experience; former senior leader at Valuation Connect, Solidifi, and Chase.