Comments on: HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water.

By: chuck

chuck — Wed, 24 Feb 2010 16:48:26 +0000

1st for those who have been around long enough appraisng use to be a profession prior to licensing. back hen you had to earn your way on a lenders list and all reports were of good quality, or you were taking off the list and out of work. FHA appraisers were selected at random by computer for appraisers located in that location. With licensing all appraisers were approved for all lists unless taken off.
then HVCC the 1st version was somewhat good once the Gov took over fannie mae it didnt take long. first they delayed the date so that the lenders could feed the Senators and congressmans campaign funds to have a 2nd revision which really gives the lenders the hen house with their own AMC’S.
Now 5-7 States are having AMC’S get licensed some fees are as high as $1,000, so figure out how much more the cost of appraisals will be.
I can remember back before the first bank bust, and licensing that most of the $$ in defaults were due to commercial lending, and yes laws were in place to prosecute those that did wrong, few were ever taken to court.
Appraisers are now in a service industry, I dont even consider it a profession any more.

By: Mike

Mike — Tue, 23 Feb 2010 23:51:22 +0000

David,
Thank you for the info and I am sure we will all work our way out of this mess. There are a few local lenders that have found good solutions to the problem and unfortunately not everyone who is buying uses the same lender. It seems so far that the biggest problem with HVCC lies with the larger commercial banks, which in my opinion lost touch with the human part of doing business a long time ago. Well other than their ads on TV that is.

By: David Chiappe

David Chiappe — Tue, 23 Feb 2010 23:37:56 +0000

Stream of consciousness maybe, but not rambling. There are many issue with HVCC, but there are solutions that allow lenders to comply with out losing their local appraiser relationships and or going to an AMC. Our solution is one of them that will allow lenders to continue to work with their local appraiser at there traditional fee without inserting any middle men into the equations. There are others out there as well. I agree that HVCC has made things way more complicated and added cost with little benefit
David Chiappe
Appraisalfirewall.com

By: Goddard

Goddard — Tue, 23 Feb 2010 21:05:00 +0000

I read it and I didn’t think you rambled at all
and it wasn’t hard to follow and it does show the power of the communal brainwash.
Most Sincerely,
Wayne

By: Mike

Mike — Tue, 23 Feb 2010 17:46:51 +0000

I know I rambled a bit and my point was a bit hard to follow. Just a little passionate about this amazing screw up called HVCC.

By: Carla Wilson

Carla Wilson — Tue, 23 Feb 2010 17:42:23 +0000

BRAVO!!!!