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bonafide
57 Posts |
 Posted - 07/01/2009 : 10:08:31 AM
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I have been hearing rumors about HVCC being placed on hold for the next 18 months, any have some up to date news regarding this??
I lost my last 4 out of last 5 refi's cause the appraisals either did not provide evidence to support the value or came in at an unrealistically low market value.
The appraisal management companies only pay appraisers about $175 for every order, before HVCC most of them earned $350 per order. When you pay ****, you get **** in return,
HVCC needs to be cancelled.
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AlbertSmythe48
466 Posts |
Posted - 07/01/2009 : 10:44:45 AM
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| If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request? |
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bonafide
57 Posts |
Posted - 07/01/2009 : 10:52:17 AM
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Yes!
I do feel that there where some appraisers that unjustifiably inflated appraised values and steps need to be taken to prevent it from occurring again, however; HVCC is not the solution.
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tippr01
98 Posts |
Posted - 07/01/2009 : 11:00:38 AM
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| Placing a moratorium on the HVCC does not automatically imply that the financial institutions will return to their prior appraisal placement process. |
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katbunk
3630 Posts |
Posted - 07/01/2009 : 11:16:15 AM
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quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
The implication being, would you be willing to only order the appraisal and not give your appraiser your "estimate" of value? |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 11:17:49 AM
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Thanks Kat. You give me hope.
quote:
Originally posted by katbunk
quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
The implication being, would you be willing to only order the appraisal and not give your appraiser your "estimate" of value?
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bonafide
57 Posts |
Posted - 07/01/2009 : 11:19:25 AM
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Michael, I agree with your previous comments. My position is HVCC needs to be repealed because it is inherently flawed. I do not pretend to have all the answers and know what the proper solution is, I have some ideas but I am not an appraiser and do not have the qualifications to adequately say what is needed (I wish Mr. Cuomo would feel the same).
Appraisers are not being adequately paid for their services and therefore are unable to provide an adequate appraisal. The appraisal management companies are taking 40% – 60% of the appraisal fee from the appraiser. So far I have noticed the following in my recent appraisal orders:
Appraisers are not generating the revenue needed to purchase all of the resources needed to thoroughly research the market.
Appraisers are being overwhelmed with work and pressured by the management companies to complete the report quickly, therefore creating opportunities for poorly executed reports.
Many appraisers are not local and outsourcing to other appraisers, often trainees to do the report. The appraiser that originally received the order then signs the report and pretends to have completed the work.
Appraisals are being done by inexperienced, unqualified appraisers who desperately need the money and are willing to work for below market wages.
You get what you pay for! Appraisers are now being paid on average $175 for the same work they were paid $325 for 2 months ago.
Lets face it in every line of work there are people that are good at what they do and others that are not. I have spent many years as a loan officer weeding out the bad appraisers and prior to HVCC was able to select appraisers that I know from past experiences provide good work. Don’t misinterpret good work to mean higher appraised values that is not at all what I am referring too.
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bonafide
57 Posts |
Posted - 07/01/2009 : 11:21:23 AM
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| for the second time YES, i would gladly order appriasals with no estimation of value provided to the appraiser |
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katbunk
3630 Posts |
Posted - 07/01/2009 : 11:21:23 AM
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quote:
Originally posted by ritabradley01
Thanks Kat. You give me hope.
quote:
Originally posted by katbunk
quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
The implication being, would you be willing to only order the appraisal and not give your appraiser your "estimate" of value?
Welcome. But I wonder, how on earth will anyone "police" the process? |
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olyloaner
21 Posts |
Posted - 07/01/2009 : 11:28:43 AM
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| Even if the suspension of HVCC doesn't result in higher values - I am praying it still happens. The lack of communication has caused me to drink heavily. I can't take it anymore. |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 11:29:40 AM
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With all due respect Bonafide, isn't there a slight chance that homes just weren't as valuable as you had hoped they were?
Pre-HVCC, I guess most LOs would have gotten a comp check and loans where the homes were not likely to be valuable enough to warrant moving forward would be canceled. I think the outrage now is because the borrower had to spend money on an appraisal and then their loan didn't go through. The customers take it out on you guys and most will never do business with you again. I understand how difficult that is. (From what I understand, honest appraisers have to deal with this type of thing all the time.) But to blame it on appraisal coming in at an "unrealistically low market value" is really not being truthful.
One of the LOs, can't remember who, mentioned that you have to retrain your borrowers. Because of the ridiculous standard brought about by the crazy, irrational real estate boom, borrowers and LOs alike have been used to getting whatever they want, regardless of credit, true value of the property, etc. There was a work around for everything. It seems to me that you guys might have to retrain the borrowers you work with that things have changed. If a borrower is unable to catch on to the new paradigm, you should probably cut them loose early in the process, so as to not waste your time. Just a thought.
quote:
Originally posted by bonafide
I have been hearing rumors about HVCC being placed on hold for the next 18 months, any have some up to date news regarding this??
I lost my last 4 out of last 5 refi's cause the appraisals either did not provide evidence to support the value or came in at an unrealistically low market value.
The appraisal management companies only pay appraisers about $175 for every order, before HVCC most of them earned $350 per order. When you pay ****, you get **** in return,
HVCC needs to be cancelled.
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bonafide
57 Posts |
Posted - 07/01/2009 : 11:32:43 AM
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You did bring up a good point about Comp seraches, and it is just one of the many reasons why i strongly disagree with HVCC.
Lets face it in every line of work there are people that are good at what they do and others that are not. I have spent many years as a loan officer weeding out the bad appraisers and prior to HVCC was able to select appraisers that I know from past experiences provide good work. Don’t misinterpret good work to mean higher appraised values that is not at all what I am referring too |
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ShamWow
171 Posts |
Posted - 07/01/2009 : 11:55:19 AM
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quote:
Originally posted by katbunk
quote:
Originally posted by ritabradley01
Thanks Kat. You give me hope.
quote:
Originally posted by katbunk
quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
The implication being, would you be willing to only order the appraisal and not give your appraiser your "estimate" of value?
Welcome. But I wonder, how on earth will anyone "police" the process?
Yes, God forbid the Appraiser follow USPAP and other state regulations and simply not succumb to breaking the law. If the Appraiser questions an order or its intent he can forward it to the appropriate state licensing/banking dept. Goodlord how easy it can be without creating a new layer of bureaucracy (HVCC).
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Scrooge McDuck
15108 Posts |
Posted - 07/01/2009 : 12:05:34 PM
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it wont happen. they love that number and need to respond to it. its an obsession.
quote:
Originally posted by ShamWow
quote:
Originally posted by katbunk
quote:
Originally posted by ritabradley01
Thanks Kat. You give me hope.
quote:
Originally posted by katbunk
quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
The implication being, would you be willing to only order the appraisal and not give your appraiser your "estimate" of value?
Welcome. But I wonder, how on earth will anyone "police" the process?
Yes, God forbid the Appraiser follow USPAP and other state regulations and simply not succumb to breaking the law. If the Appraiser questions an order or its intent he can forward it to the appropriate state licensing/banking dept. Goodlord how easy it can be without creating a new layer of bureaucracy (HVCC).
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Danno1500
37 Posts |
Posted - 07/01/2009 : 12:10:36 PM
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HVCC is bad and it is not because of lower value. I received an HVCC appraisal today and was able to spot mutilple errors - wrong county, inaccurate lot dimensions, inaccurate reports with regards to add on's, just a junk appraisal - and the value came in 7K higher then I or the borrower had anticipated so I'm not complaining about the value.
I have waited 3 weeks for a crappy appraisal that needs to have corrections made and I cannot contact anyone (violation of HVCC). This is not helping the borrowers. We are getting bad appraisals, that take longer, and cost more. WHAT A DEAL.
Again, property valuation came in higher then expected and based on the comps in the report, BAD VALUATION, should be less.
HVCC is just a bad answer to the problem. If you have a quality trusted appraisal who you know does GOOD work, then you should order the appraisal and wait for the report. The value is what it is. If borrower estimate value is way off, why not have the appraiser contact you before going out to property / costing borrower $$$ ??? |
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tippr01
98 Posts |
Posted - 07/01/2009 : 12:27:41 PM
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The revised HVCC was flawed in my opinion. The banking and title insurance industries were able to maintain ownership in the AMCs they own in whole or via joint venture. One of those being investigated, First American's eAppraiseIT, benefited along with First Am's joint venture AMCs with Wells Fargo, Citicorp and Chase. Where is the independence/transparency when their corporations only benefit when loans close for the financial institutions and/or title insurance corps.
The only acceptable solution I see is to utilize financial institutions that maintain and utilize an appraisal vendor panel, not those that utilize AMCs. The AMC business model of fast and cheap continues to fail all involved other than the AMC's owners. |
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hertz
1546 Posts |
Posted - 07/01/2009 : 1:32:54 PM
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quote:
Originally posted by ritabradley01
With all due respect Bonafide, isn't there a slight chance that homes just weren't as valuable as you had hoped they were?
Pre-HVCC, I guess most LOs would have gotten a comp check and loans where the homes were not likely to be valuable enough to warrant moving forward would be canceled. I think the outrage now is because the borrower had to spend money on an appraisal and then their loan didn't go through. The customers take it out on you guys and most will never do business with you again. I understand how difficult that is. (From what I understand, honest appraisers have to deal with this type of thing all the time.) But to blame it on appraisal coming in at an "unrealistically low market value" is really not being truthful.
One of the LOs, can't remember who, mentioned that you have to retrain your borrowers. Because of the ridiculous standard brought about by the crazy, irrational real estate boom, borrowers and LOs alike have been used to getting whatever they want, regardless of credit, true value of the property, etc. There was a work around for everything. It seems to me that you guys might have to retrain the borrowers you work with that things have changed. If a borrower is unable to catch on to the new paradigm, you should probably cut them loose early in the process, so as to not waste your time. Just a thought.
quote:
Originally posted by bonafide
I have been hearing rumors about HVCC being placed on hold for the next 18 months, any have some up to date news regarding this??
I lost my last 4 out of last 5 refi's cause the appraisals either did not provide evidence to support the value or came in at an unrealistically low market value.
The appraisal management companies only pay appraisers about $175 for every order, before HVCC most of them earned $350 per order. When you pay ****, you get **** in return,
HVCC needs to be cancelled.
With all due respect Rita, you have no idea what you are talking about. I have had several appraisals that came in with a low value because the appraiser that did that appraisal had no business doing it in the first place. I recently had a home appraised at 300K even. The appraisal was new construction based on plans. The home is 2700 sqft and on an acre of land. The BEST "COMP" (and I use that term loosely here) was 2200 sqft and 24 years old. Plenty of new homes in the area but were sold (new) without being listed in MLS. We complained to the lender and they had a new appraisal ordered from someone in the area that had access to NON MLS data. And (without any "pressure" from an LO) wouldn't you know the new appraisal came in at $441K with GREAT comps. This is just one of MANY issues I have had since the implementation of HVCC. Should I have "retrained" my client to get screwed by an appraiser? All I ever hear from appraisers is whining about pressure from LO's. Well man up and don't succumb to it. HVCC *****, slow service and bad product because there is no "pressure" on the appraiser to do a good job. The only appraisers that like HVCC are the ones that were too weak to build good business relationships with good loan officers and can now just go cherry pick from a list, do lousy work and not care about where their next appraisal order is going to come from.
Rant over.
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LanceB
169 Posts |
Posted - 07/01/2009 : 2:17:46 PM
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| Rita - retraining borrowers - very good point. Before the implode borrowers were trying to get their loans like they were ordering from Burger King. |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 2:40:42 PM
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Thank Lance. On a side note, I think all of us "average" Americans are going to have to retrain ourselves. Social security benefits ?? Home equity ?? 401k ?? Medicare ??
On the other hand, if you enter our country illegally; Welfare benefits-check. Medicaid-check. Food stamps-check. Hud Housing-check.
Everything is harder now and most of us will have to train ourselves to want less. This has been happening slowly over the years and it began accelerating even more after the real estate bubble burst.
We were a bit spoiled before. Those days are over, I fear. |
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walding714
413 Posts |
Posted - 07/01/2009 : 2:43:43 PM
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Bonafide, sadly you'd have better luck finding someone to sympathize or identify with your pain at a BBB or ACORN meeting
quote:
Originally posted by bonafide
I have been hearing rumors about HVCC being placed on hold for the next 18 months, any have some up to date news regarding this??
I lost my last 4 out of last 5 refi's cause the appraisals either did not provide evidence to support the value or came in at an unrealistically low market value.
The appraisal management companies only pay appraisers about $175 for every order, before HVCC most of them earned $350 per order. When you pay ****, you get **** in return,
HVCC needs to be cancelled.
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Hopland
4126 Posts |
Posted - 07/01/2009 : 2:47:54 PM
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I just pulled the trigger on an appraisal for a management company. Purchase agreement at $184,000. Opinion of value $175,000.
Is this due to HVCC? Just asking. |
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hertz
1546 Posts |
Posted - 07/01/2009 : 3:07:18 PM
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| If the appraisal is good, NO! If you put together a pos appraisal because you are only making $170 on it, could be! |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 3:30:46 PM
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There must be something wrong. You came in too low. What's wrong with you? Hold on, I've got better comps. They will support the "right value".
I'm going to turn you in. Oh, wait, there's no one to turn you in to.
(FBI, if you are reading, this was just a joke. ha....ha....)
quote:
Originally posted by Hopland
I just pulled the trigger on an appraisal for a management company. Purchase agreement at $184,000. Opinion of value $175,000.
Is this due to HVCC? Just asking.
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bonafide
57 Posts |
Posted - 07/01/2009 : 3:40:20 PM
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Rita,
you work for an appraisal management company, of coarse you support HVCC, it allows you to pimp out all the appraisers at everyone else’s expense.
Enjoy it while it lasts, I and everyone else in this industry will not stand for this HVCC **** anymore. Everyone call & write your congressman/women, lets get the HVCC moratorium bill passed!
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Hopland
4126 Posts |
Posted - 07/01/2009 : 3:54:52 PM
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USPAP 2008-2009, Ethics Rule, Conduct (Line 217)
An appraiser must perform assignments ethically and competently, in accordance with USPAP.
Nothing in there about fees, high or low. I think we're all going to have to live with HVCC (or something similar) so it's probably best to learn how to work in this environment and adapt to the changes instead of wasting time and effort trying to convince the world it's a bad thing.
FTR... My appraisal report was good. Comp 1 was the sale of my one rental property about 300 feet away from this subject property. Well defined neighborhood with enough sales to leave no doubt. It was a non-arms-length sale between a son and mother with 8k in seller credits and the house wasn't in good condition. Everything well documented, even matched pairs of the same properties selling and the reselling during various periods which supported market change adjustments. Tight range of value indicators.
But I'm sure the mortgage broker will be swearing in a few hours when the AMC sends the report. |
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ClearwaterFN
83 Posts |
Posted - 07/01/2009 : 4:08:29 PM
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| Misery and Disgust, Fire and Ash :) |
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Adept Appraisal
1623 Posts |
Posted - 07/01/2009 : 4:48:11 PM
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Listen closely, this is the sound made by a sheeple:
"I think we're all going to have to live with HVCC (or something similar) so it's probably best to learn how to work in this environment and adapt to the changes instead of wasting time and effort trying to convince the world it's a bad thing."
Not true, simply not true. That sounds like Barack Obama talking, similar to my signature below. "Just learn to live with it." Democrats love voters who think like that. "Just let us make some changes, you'll be fine, we're here to help you, honestly..."
However, as any rational American knows, there is no need to adapt, but there is a BIG need to retake free market Capitalism.
For the record, every appraiser (I believe it is currently unanimous) on Mr. Boyd's most recent Appraisal Forum posting has tried, and tried hard, to explain why he's so very wrong about HVCC, but try as they may he appears very determined to not see the issue for what it is.
Boyd wants to make this an issue about upset appraisers, whiny appraisers, cheaters who are upset that they can no longer cheat. He just doesn't get it, and every appraiser (other than Rita, it seems) is telling him the real deal.
Dave... |
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lemeuss
1862 Posts |
Posted - 07/01/2009 : 4:51:12 PM
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quote:
Originally posted by Hopland
I just pulled the trigger on an appraisal for a management company. Purchase agreement at $184,000. Opinion of value $175,000.
Is this due to HVCC? Just asking.
Yes, we all know before HVCC you were inflating values. Your opinion would have obviously been $184K prior to May 1 |
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lemeuss
1862 Posts |
Posted - 07/01/2009 : 4:54:47 PM
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quote:
Originally posted by AlbertSmythe48
If the HVCC were to get canceled, would you be willing to order your appraisals with only your company name, file number, borrowers name, subject address and contact number on the request?
Certainly.....
I can still follow up with a phone call after sending the order to make sure we're going to meet value though, correct? <tic> |
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Hopland
4126 Posts |
Posted - 07/01/2009 : 5:00:46 PM
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quote:
Listen closely, this is the sound made by a sheeple:
Never mind. It's been too hard a day today and I'd just say something really nasty.
We'll see how this plays out. |
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Adept Appraisal
1623 Posts |
Posted - 07/01/2009 : 5:03:47 PM
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Maybe you should refrain from saying anything and simply listen to the people having responded to your thread. There are some very good things being shared with you, it's a pity you're so determined, invincibly determined, to conclude them ALL to be in error.
Dave... |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 5:22:50 PM
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quote:
Originally posted by bonafide
Rita,
you work for an appraisal management company, of coarse you support HVCC, it allows you to pimp out all the appraisers at everyone else’s expense.
Enjoy it while it lasts, I and everyone else in this industry will not stand for this HVCC **** anymore. Everyone call & write your congressman/women, lets get the HVCC moratorium bill passed!
Ha ha. You don't know what you're talking about. I haven't taken advantage of anyone. |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 5:40:00 PM
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Dave, people have a right to their opinions. Calling people names like sheeple is rude. If you have some new information to share, a new (workable)solution to the problem of appraisers advocating for their loan broker friends, I'm all ears. And yes,(brokers) many appraisers didn't commit career suicide by saying no to broker pressure and they won't in the future, so the tired "just say no" argument isn't going to work.
I'm pretty sure Greg has said that HVCC needs work. I know I've stated it publicly a number of times. Most importantly lenders should absolutely NOT be allowed to require the use of a specific AMC. But I haven't forgotten that 98% of the mortgage brokers I tried to work with when I was new, tried to push me in one way or another to guarantee a particular value before they would give us the assignment. So I moved on and stopped actively marketing to brokers. Thing is, me moving on didn't solve the problem and we ended up with A LOT of inflated appraisals, allowing many to borrow much more money than they should have.
Stop and think about what this problem has done to people in this country. It's strapped them with enormous debt on assets that are now declining in value at a perilous rate. Those people you're always crying about because they can't even afford an appraisal. Yeah those people. Remember them? Some of you want free rein to pillage them some more and now you can't. Oh well. I'm thrilled about that. So sue me.
Is HVCC perfect-heck no, but it's a start in the right direction.
PCE PCE PCE (honest brokers, I'm not talking about you.)
quote:
Originally posted by Adept Appraisal
Maybe you should refrain from saying anything and simply listen to the people having responded to your thread. There are some very good things being shared with you, it's a pity you're so determined, invincibly determined, to conclude them ALL to be in error.
Dave...
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Hopland
4126 Posts |
Posted - 07/01/2009 : 5:44:05 PM
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Dave. You're a self-serving hack appraiser... the kind that most of the real appraiers despise. The thread is not about HVCC. It's about AMC's and was intended to have a discussion about playing hardball with them rather than them extorting appraisers. The gist of the thread was to explore different ways of looking at pay structures. Instead of thinking in terms of accepting insulting fees we should look at it as how much we are willing to pay a third party to spoon feed us clients.
As usuall you have used a subertuge to mislead your audience. It shows an aspect of your character that has no place in the appraisal profession. |
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ShamWow
171 Posts |
Posted - 07/01/2009 : 5:51:07 PM
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"An appraiser must perform assignments ethically and competently, in accordance with USPAP." -Hopland
So where is the problem? Why the need for HVCC or AMC's? Just follow the guidelines setforth by USPAP. I do not see the problem unless you believe Appraisers need "Big Brother" babysitting them insuring they do not break the law by inflating values...
As I said before, if an Appraiser gets an order where they question its intent or feels pressured, simply turn it over to the state Bank/Broker License Agency.
Why is it you (Appraisers) need a third party (HVCC) to insure you do not inflate values?....Maybe the problem is the (Appraiser) in the mirror.
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Annemieke Roell
1097 Posts |
Posted - 07/01/2009 : 5:55:14 PM
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quote:
Originally posted by Adept Appraisal
Maybe you should refrain from saying anything and simply listen to the people having responded to your thread. There are some very good things being shared with you, it's a pity you're so determined, invincibly determined, to conclude them ALL to be in error.
Dave...
I don't really have a dog in this hunt, but I guess it would depend on who the people are. There are plenty of brainless dingbats posting on the AF ..... |
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Hopland
4126 Posts |
Posted - 07/01/2009 : 5:55:57 PM
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Original topic starter
quote:
Think of AMCs/Fees in a different way
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Instead of miserably accepting low fees from AMC's and groveling around trying to please them, would it be more professional to think of it in a different way?
How much are you willing to pay a third party to manage clients for you? Pay $200 to earn $200? Pay $50 to earn $300?
Don't think of them as miserly employers. Think of them as your vendors. Instead of whining about "conditions" and ridiculous demands forcefully and confidently tell them you are paying them $xxx to take care of these problems for you. Not the other way around.
Some replys
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quote:
How about an addition to HVCC. Full disclosure to ALL involved of the appraisal fee vs. what is actually paid to the appraiser. This would help the consumer, vender....etc. Kinda shine a light of truth on where the mulah is going. Isn't is disclosed about realtor fees / percentage. Taxes, such as doc stamps, etc.
quote:
It really depends on HOW MUCH work load you have.....and $50 is NOT going to kill me. Think of it another way.....NO appraisal at $400 each will loose you about $16,000 per month or so (10 per week). As I stated in the last thread I wrote that YOU TORE UP......it's YOUR business what YOU do.....It's MY BUSINESS what I DO.
I DO NOT WORK for ALL AMC's as they all do not understand the appraisers role, but SOME DO.....and those are GOOD CLIENT's in my opinion! Full fee -$50......are you going to starve? No, but you definately will if you have that kind of attitude towards others you are working for demanding only FULL FEE on ALL orders. I get FULL FEE on about 70% of my work, therefore, it does not hurt too bad to let go of a little bit now and then.
quote:
Greg, Because of your location in Hopeland (population < 800, unincorporated) your experience with AMCs would not be anything like what most of us encounter. You're possibly the only appraiser in your town. I've seen your post on Broker Outpost about the AMC fees that you are able to command. I believe you. We all know that AMCs will pay a fair fee when there is no other choice. The HVCC likely hasn't harmed you. It has probably even helped you. Keep in mind that your situation is atypical. Most of the rest of us are being raped either by loss of business or AMC fee skimming.
And for the record... I can't imagine anyone who hates AMC's more than me or who has been more outspoken on their greed, lack of respect for appraisers or their irresponsibility. But I AM an appraiser and appraisers serve the public trust.
It can't go back to brokers, third party originators and loan staff ordering the appraisal and controlling the compensation and future business of appraisers. |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 5:57:51 PM
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I've seen the thread on AF and you are lying Dave. The very first person that responded agreed with Greg.
Our company has worked with a good AMC for a couple of years. We get almost full fee and no pressure. Well worth it. |
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Hopland
4126 Posts |
Posted - 07/01/2009 : 6:00:44 PM
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ShamWow.
It simply doesn't work the way you apparently envision it. And HVCC is directed at third party originators... no appraisers.
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canoe
253 Posts |
Posted - 07/01/2009 : 6:10:54 PM
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| Rita , Some are saying you are employed by a "AMC' is that true ?? and if so which one is paying full fee in So Ca. I thought your were the one screaming about AMCs needing to be licensed and regulated, it's funny everyone but you needs a license.. I just don't get any of this non-sence. |
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ShamWow
171 Posts |
Posted - 07/01/2009 : 6:12:08 PM
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"it simply doesn't work the way you apparently envision it. And HVCC is directed at third party originators... no appraisers." -Hopland
That is an odd statement. Who is working for half of the Appraisal Fee versus Pre-HVCC? If not directed at Appraisers who inflated home values, they sure cut all your incomes in half to get even with the Broker/Bankers.
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ShamWow
171 Posts |
Posted - 07/01/2009 : 6:13:44 PM
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"Our company has worked with a good AMC for a couple of years." -Rira
Please cite the AMC. |
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bonafide
57 Posts |
Posted - 07/01/2009 : 6:20:33 PM
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| Hey I am the guy that started this thread! Partly to voice my disgust with the HVCC process and partly to see if anyone had news about the possible 18 month suspension of HVCC. Rita, and all the other people financially motivated to support HVCC because you own/ work for AMC’s quite frankly, shouldn’t be responding to this thread. Any reasonable, experienced real estate professional knows HVCC is inherently flawed and needs to be suspended, there is no need for debate. |
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Hopland
4126 Posts |
Posted - 07/01/2009 : 6:25:15 PM
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Glenn... stop. You're sounding like Dave now. Rita and her company accepted assignments from AMC's. That's not being employed by an AMC. AMC's are just another client. Rita was a trainee with a CA State license (AT). She apparently chose not to renew at this time. She can get it back with little effort later if she wants to. You don't think Rita was the only one in her company? I'd bet there was a licensed or certifed appraiser she was working with.
quote:
put the value in the lenders hand.
Federally chartered lenders are using depositor money to play with. Why don't you ask the depositors if it's better to have an actual appraiser (even if they have to pay $100 more for their appraisal ever five or ten years and wait an extra week for the appraisal) or if it's better for a computer tweeked by a wonk in a cubicle to determine the collateral their money is being lent against; or if the bank should just take a guess. |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 6:31:56 PM
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Geez Glenn pay attention. And before you start shouting with glee about my only having achieved trainee status, know that I have WELL over the amount of hours I need to go straight to certified level. Soon I'll be getting my commercial hours...I may just go from trainee straight to certified general level IF I so desire.
Think outside the box Glenn or you might get left behind. Just kidding, but seriously, this is easy enough to understand no?
As far as our company benefiting from HVCC, the wonderful AMC we work with doesn't handle origination appraisals....only REOs. Can you understand that.
All this effort to discredit someone just because you don't agree with them. So transparent an attempt to shut me up. Sad. |
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Hopland
4126 Posts |
Posted - 07/01/2009 : 6:33:30 PM
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quote:
Originally posted by ZF
let them decide, and hire a donkey to do a walk by. Real simple.
Might as well get a donkey to inspect on a loan originated by an ass.
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ShamWow
171 Posts |
Posted - 07/01/2009 : 7:02:56 PM
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"Our company has worked with a good AMC for a couple of years." -Rira
Aain, Please cite the AMC. |
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Adept Appraisal
1623 Posts |
Posted - 07/01/2009 : 7:06:14 PM
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Rita,
I didn't lie, and that you said it like you did is only further demonstrating to me why I am seeing you in new light as of late. Read that first response again, and maybe you'll agree. That post created a fictional environment that could never exist, and you feel that it somehow agrees with Greg? Please. The way it's written almost no appraiser alive would disagree with it, therefore rendering it a fantasy.
So, after that post, tell me, what were they saying to Greg?
Ann,
Check the thread out, I highly doubt you'll consider that crowd a bunch of "dingbats," although with you one never knows.
As for being rude? I don't think so, Rita. Your Christian sensibilities have left you in this argument, as opinions aren't up for debate. This is a governmental control issue, I am to resist bad government *at every turn*, and so I shall continue to do so.
Greg is unable to do that, as he has concluded this to be "necessary." And now he's preaching "adapt." He can only further exacerbate the problem already existing, he's useless to me, and if you interpret that as rude then you need thicker skin. My future is at stake, I'll fight for it, and if that means being "rude" to a few people asleep at the switch in an effort to shake them into a sense of awareness, heck, then so be it.
Guess what? It was people like Greg that were in the 2/3 MAJORITY 233 years ago here in this country, Rita. They were all about "adapting," too. I'm glad the minority did all the heavy lifting. History just tends to repeat itself, it seems.
As for Greg's ridiculous ad hominem attack that anyone is "sounding like Dave," pal, you better wise up. That thread you started has just about *everyone* sounding a lot like me on this issue.
Dave... |
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Adept Appraisal
1623 Posts |
Posted - 07/01/2009 : 7:29:05 PM
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Hey Rita, if the first poster in Greg's AF thread is agreeing with Greg, why does Greg chide him with a silly "waggling finger" icon telling him that his response "isn't in keeping with (his) thread?"
And then he does the SAME THING to the 2nd guy responding! That guy's post wasn't any good in Greg's opinion, either, and he dismisses it. And for that matter, not one single response was what Greg was looking for, insofar as I can see.
Rita, what are you reading over there, anyway...? Where did I lie? Please tell me.
Dave... |
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ritabradley01
4945 Posts |
Posted - 07/01/2009 : 7:32:31 PM
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quote:
Originally posted by ShamWow
"Our company has worked with a good AMC for a couple of years." -Rira
Aain, Please cite the AMC.
Now that would be professional suicide for our company. No, I think I will jealously guard that information. Sorry pardner.
PS. It's Rita, not Rira
PS. Dave, It's Annemieke, not Anne Omitting the truth is lying and also that thread had very few participants. It's hardly a representative sample.
Dave do you have any solutions to appraisal inflation problems? Let's put our heads together. The cozy, unethical, advocating LO/Appraiser relationships won't go away on their own. What can be done? Let's think of something less binding than HVCC. I'm up for it. I don't want HVCC, I just want this housing market to normalize. It won't do that the real estate industry straightens up and flies right and it's highly unlikely that will happen without some sort of regulation. How can you think otherwise? |
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ShamWow
171 Posts |
Posted - 07/01/2009 : 7:34:11 PM
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Might want to to sit down Rita:
"The Appraisal Institute, the nation’s largest real estate appraisal association, has led a coalition of four organizations and 35,000 members calling on the U.S. Department of Housing and Urban Development (HUD) to rescind regulations regarding appraisal management companies (AMCs)"
Quote if the Day:
Jim Amorin, president of the Appraisal Institute said, “More residential mortgage lenders are relying on AMCs to provide appraisal services, and with the restrictions HUD has placed on appraisal and management fees, the home buying consumer ends up paying more in fees and getting less in service.”
Link: (Might have to Copy & Paste)
http://www.nationalmortgageprofessional.com/news12638/appraisal-institute-calls-hud-rescind-mortgage-regulation
So now the Appraisal Institute is at odds with Ritabradley01:
"Is HVCC perfect-heck no, but it's a start in the right direction." -Ritabradley01
"but many of us (appraisers and non-appraisers alike)liked ordering privileges being taken away from LOs." -Ritabradley01
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