A well known AMC recently made an appraisal request for a 1004 FHA reverse mortgage and offered a fee of $240.  That's simply impossible!  The AMC had a long list of requirements; four comps; three under six months; two active listings; no MLS photos etc etc, in effect requesting a precise and exacting appraisal at $125 below market value in New Orleans.  I don't write junky appraisals, but I would think that an AMC offering a fee so much below market value would at least not demand a long list of requirements and conditions!  I simply can't afford to provide quality appraisals for a fee that low--and I don't know anyone who can.  It's okay to ask for as many requirments and conditions as you like--just be prepared to pay a fair amount for the work.  Sadly, I declined the assignment.