As an appraiser I can understand your concern.  Already there are complaints that the HVCC is costing parties involved in the real estate transactions millions of dollars.  This is through lost rate locks (due to longer turn around times) and faulty appraisals (due to some incompetent appraisers).  These problems can in part be blamed on the required use of Appraisal Management Companies (AMC's).  While the initial premis of these companies was to alleviate pressure to appraisers who have been threatened in the past to "hit the number" or lose work, a seconday concern has arisen.  Many AMC's have gotten greedy and only considered their bottom line.  They will charge the buyer $350-$400 (or whatever the gong rate is in an area) and then only pay the appraiser a marginal amount of this, sometimes less than 50%.  According to them, this is the cost of "managing the process". 

Well in this process, many competent and respectable appraisers will not work for this small amount of money because they know the time and effort it takes to complete a professional appraisal.  In addition, the AMC's only criteria is cost and turn around time.  This CANNOT be the primary concern when talking about a reliable and complete appraisal.  In light of this, the AMC's are using appraisers who will work for this small amount of money.  It appears these appraisers are coming from out of the area.  Most of the time these appraiser DO NOT know the area they are now appraising in.  This violates the competency rule.  As a realtor and mortgage professional you can and should question the appraisers experience in the area they are appraising in.  They should have experience in the area and or associate with someone that does.  Only by making sure the appraisers are competent in the areas they work can we be sure that we are getting the best possible appraisals.