Comments for The Wallace & Kelly Real Estate Blog http://wallaceandkelly.com "All Things Real Estate and Some Other Stuff Too..." Tue, 02 Mar 2010 16:59:15 -0700 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Appraisals and the Catch 22 by patrick http://wallaceandkelly.com/2010/03/02/appraisals-and-the-catch-22/comment-page-1/#comment-219 patrick Tue, 02 Mar 2010 16:59:15 +0000 http://wallaceandkelly.com/?p=481#comment-219 Right now we have the "perfect storm".When you use the term "lender" in this market, one never knows if you're referring to the seller or the buyer's new mortgage company. It's very confusing when you're talking about a real estate transaction to keep the players straight. Another confusing thing (one of many) is that the appraisers are now supposed to be sepaprated from the lenders (via the HVCC rules) which is hysterical because these "middle men" firms are now owned by the banks(lenders) who are supposed to protect them from themselves. Something is very wrong !!!!!! Right now we have the “perfect storm”.When you use the term “lender” in this market, one never knows if you’re referring to the seller or the buyer’s new mortgage company. It’s very confusing when you’re talking about a real estate transaction to keep the players straight. Another confusing thing (one of many) is that the appraisers are now supposed to be sepaprated from the lenders (via the HVCC rules) which is hysterical because these “middle men” firms are now owned by the banks(lenders) who are supposed to protect them from themselves. Something is very wrong !!!!!!

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by chuck http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-216 chuck Wed, 24 Feb 2010 16:48:26 +0000 http://wallaceandkelly.com/?p=469#comment-216 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 $$ in defaults were due to commercial lending, and yes laws were in place to prosecute those that did wrong, few were ever taken to court. Appraisers are now in a service industry, I dont even consider it a profession any more. 1st for those who have been around long enough appraisng use to be a profession prior to licensing. back hen you had to earn your way on a lenders list and all reports were of good quality, or you were taking off the list and out of work. FHA appraisers were selected at random by computer for appraisers located in that location. With licensing all appraisers were approved for all lists unless taken off.
then HVCC the 1st version was somewhat good once the Gov took over fannie mae it didnt take long. first they delayed the date so that the lenders could feed the Senators and congressmans campaign funds to have a 2nd revision which really gives the lenders the hen house with their own AMC’S.
Now 5-7 States are having AMC’S get licensed some fees are as high as $1,000, so figure out how much more the cost of appraisals will be.
I can remember back before the first bank bust, and licensing that most of the $$ 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.

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by Mike http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-215 Mike Tue, 23 Feb 2010 23:51:22 +0000 http://wallaceandkelly.com/?p=469#comment-215 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. :) 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. :)

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by David Chiappe http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-214 David Chiappe Tue, 23 Feb 2010 23:37:56 +0000 http://wallaceandkelly.com/?p=469#comment-214 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 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

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by Goddard http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-213 Goddard Tue, 23 Feb 2010 21:05:00 +0000 http://wallaceandkelly.com/?p=469#comment-213 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 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

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by Mike http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-212 Mike Tue, 23 Feb 2010 17:46:51 +0000 http://wallaceandkelly.com/?p=469#comment-212 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. 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.

]]> Comment on HVCC (Home Valuation Code of Conduct) or How we misplaced the baby after throwing out the bath water. by Carla Wilson http://wallaceandkelly.com/2010/02/22/hvcc-home-valuation-code-of-conduct-or-how-we-misplaced-the-baby-after-throwing-out-the-bath-water/comment-page-1/#comment-211 Carla Wilson Tue, 23 Feb 2010 17:42:23 +0000 http://wallaceandkelly.com/?p=469#comment-211 BRAVO!!!! BRAVO!!!!

]]> Comment on Service after the close. Always call your REALTOR !!!!!! by dana http://wallaceandkelly.com/2010/02/05/service-after-the-close-always-call-your-realtor/comment-page-1/#comment-210 dana Fri, 19 Feb 2010 20:09:54 +0000 http://wallaceandkelly.com/?p=451#comment-210 Good info. And I will note that this is why is it so important to get a GOOD realtor like Wallace & Kelly, cuz I've had all sorts of calls at work with people that say ".... My realtor told me...." and I just roll my eyes. Too many bozo's out there who don't know what in the world they're talking about & give you guys a really bad name. Love you guys, D< Good info. And I will note that this is why is it so important to get a GOOD realtor like Wallace & Kelly, cuz I’ve had all sorts of calls at work with people that say “…. My realtor told me….” and I just roll my eyes. Too many bozo’s out there who don’t know what in the world they’re talking about & give you guys a really bad name. Love you guys, D<

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]]> Comment on Are we eating ourselves out of house and home? by Kim http://wallaceandkelly.com/2010/02/08/are-we-eating-ourselves-out-of-house-and-home/comment-page-1/#comment-194 Kim Mon, 08 Feb 2010 19:14:53 +0000 http://wallaceandkelly.com/?p=453#comment-194 Nice article W&K - luckily I refrained (without even seeing this pre-party!) Nice article W&K – luckily I refrained (without even seeing this pre-party!)

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