Readers Respond Editor’s Note: Check out OREP/WRE’s new HVCC Appraiser Talkback Blog and Survey for additional reader comments and to make yourself heard nationally on HVCC and other important industry issues. (Click Appraiser Talkback Blog.) Fannie’s 1004MC When I reviewed the “new” 1004MC for the first time I began to laugh in view of all…
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Director’s Message HVCC Appraiser Talkback Blog and Survey Giving Voice to Appraisers Nationwide Appraisers called the real estate/lending collapse years before it happened, based on what they were seeing- liars loans, inflated values, excessive pressure, an over reliance and misuse of AMVs, but no one was listening. It’s our belief that those “in the trenches”…
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Industry News HVCC Update Appraiser Talkback Blog and Survey: Only 4 percent (4%) of survey takers so far say they “never” experience unrealistic time pressure from AMCs, (“given the scope of the assignment”). To the follow-up question: “Does the time pressure result in a product that is less reliable for the end user, compared to…
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Readers Respond Editor’s Note: We’ve received hundreds of comments since last issue including those posted on the OREP/Working RE Talkback Blog. We reprint only a representative few here. To find more, visit WorkingRE.com and click Appraiser Talkback Blog under the Blogs tab. In addition, over 500 appraisers left comments after taking our survey, a few…
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Director’s Message HVCC Ruinous for Many Between our Appraiser Talkback Blog and Survey we received nearly 1,000 individual comments from appraisers regarding the negative effects HVCC is having on their businesses and on the profession in the first 30 days since the Code’s implementation. Many say the new rules will likely put them out of…
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Industry News HVCC Update- Seeing Light Regulators, lenders and the public are finally getting the message that all is not well with HVCC. Consider FHA’s recent mandate that appraiser fees be customary and reasonable and that there be a clear separation of appraiser and AMC fees (Page **). These requirements speak directly to appraisers’ complaints.…
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Readers Respond Editor’s Note: The HVCC and FHA comments here are representative of many hundreds of similar sentiments expressed at the OREP/Working RE HVCC Appraiser Talkback Blog and Survey. To find a report from a “happy” AMC appraiser, see page Diary of a Happy (AMC) Appraiser. HVCC We watched revenue drop from $12,000 per month…
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Director’s Message Appraisers and AMCs: Mixed Results According to our readers, most appraisers continue to revile appraiser management companies (AMCs). There are a couple of reasons they give; stingy fees, unrealistic turn times and a lack of competence on the part of AMC staff. Most say AMC work goes to the lowest (and quickest) bidder…
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Industry News Appraisal Friendly Legislation (Taken from the story Working the System-In a Good Way, first published in Working RE Online News Edition.) Appraisers have some work to do. As you may know, H.R. 4173, which passed the House (See HVCC: Appraiser Last Laugh), has numerous appraisal provisions including the termination of the HVCC (Home…
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Editor’s Note: Find many more comments at the OREP/Working RE HVCC Appraiser Talkback Blog. Note: many of the comments are taken from the survey and blog and are therefore anonymous. HVCC Survey Results: Appraisers Still Feel Pressure I just got off the phone with a major AMC. I called them to complain that it doesn’t…
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