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bonafide
57 Posts |
 Posted - 07/02/2009 : 2:20:21 PM
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A bill to Suspend HVCC is currently in the House Financial Services Committee awaiting a vote. Below is a link of all the congressmen/women in the committee. Please click the link, and if you live in one of the districts the congressmen/women represent call, email and notify them if they don’t pass the bill they will loose your support and vote in the upcoming election.
Don’t brush this aside and hope your neighbor will pick up your slack, they won’t. We all hate HVCC and now is our one and only opportunity to fight back!
http://www.govtrack.us/congress/committee.xpd?id=HSBA
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AlbertSmythe48
466 Posts |
Posted - 07/02/2009 : 4:22:20 PM
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| No comment... |
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Scollins
55 Posts |
Posted - 07/02/2009 : 5:24:01 PM
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| What is the Bill number |
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Agent_Mike
1042 Posts |
Posted - 07/02/2009 : 5:26:12 PM
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| H.R. 3044 |
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velecico
5311 Posts |
Posted - 07/02/2009 : 5:32:30 PM
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If passed , would you be able to resubmit deals that where killed by lousy appraisals ? |
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Scollins
55 Posts |
Posted - 07/02/2009 : 5:33:24 PM
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| hey thanks Agent mike |
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Annemieke Roell
1097 Posts |
Posted - 07/02/2009 : 6:44:32 PM
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quote:
Originally posted by velecico
If passed , would you be able to resubmit deals that where killed by lousy appraisals ?
Sure. As long as you pay for them .... |
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AlbertSmythe48
466 Posts |
Posted - 07/02/2009 : 9:08:23 PM
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quote:
Originally posted by velecico
If passed , would you be able to resubmit deals that where killed by lousy appraisals ?
Does that mean you can go back to your number hitting appraisers to get the deal done right? |
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bonafide
57 Posts |
Posted - 07/03/2009 : 05:14:53 AM
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| Bump |
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velecico
5311 Posts |
Posted - 07/03/2009 : 06:17:20 AM
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quote:
Originally posted by AlbertSmythe48
quote:
Originally posted by velecico
If passed , would you be able to resubmit deals that where killed by lousy appraisals ?
Does that mean you can go back to your number hitting appraisers to get the deal done right?
No ahole , It means I we would choose someone that knows what they are doing , not a $50.00 per deal looser , get off your high horse |
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davidfr
2245 Posts |
Posted - 07/03/2009 : 06:19:48 AM
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quote:
Originally posted by velecico
quote:
Originally posted by AlbertSmythe48
quote:
Originally posted by velecico
If passed , would you be able to resubmit deals that where killed by lousy appraisals ?
Does that mean you can go back to your number hitting appraisers to get the deal done right?
No ahole , It means I we would choose someone that knows what they are doing , not a $50.00 per deal looser , get off your high horse
Only a loser would call someone a looser. |
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velecico
5311 Posts |
Posted - 07/03/2009 : 07:31:41 AM
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Only a real LOOOOSER can waste time checking spelling on a blog |
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Hopland
4126 Posts |
Posted - 07/03/2009 : 07:36:57 AM
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What specifically were the issues in determining that the appraisal was of poor quality? Who decided it was of poor quality?
Just wondering. |
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ritabradley01
4945 Posts |
Posted - 07/05/2009 : 11:59:12 AM
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| The silence is deafening. |
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CreditTechnologi
567 Posts |
Posted - 07/05/2009 : 7:10:43 PM
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Hopefully the HVCC moratorium will succeed. My concern is the suspension of HVCC would not require lenders to drop their AMC requirements. It's apparent that for some there are financial incentives for them not to do so.
Hopefully market pressures would force the issue as lenders not requiring use of an AMC would seemingly have a considerable competitive advantage.
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AlbertSmythe48
466 Posts |
Posted - 07/05/2009 : 8:34:15 PM
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quote:
Originally posted by Hopland
What specifically were the issues in determining that the appraisal was of poor quality? Who decided it was of poor quality?
Just wondering.
It was poor quality cause he didn't get the value he wanted! |
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Bob CRA
183 Posts |
Posted - 07/05/2009 : 9:40:59 PM
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quote:
Originally posted by velecico
If passed , would you be able to resubmit deals that where killed by lousy appraisals ?
I guess you had them all reviewed and submitted the results to the state for the appropriate investigation and reprimand?
See, if you do that then all the lousy appraisers will lose (or loose) their licenses and only the good appraisers will be left.
Win-win situation the way I see it... |
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Boulderco
1775 Posts |
Posted - 07/05/2009 : 11:28:18 PM
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quote:
Originally posted by AlbertSmythe48
No comment...
That's a comment. |
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Boulderco
1775 Posts |
Posted - 07/05/2009 : 11:37:07 PM
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| HVCC has been a boon to lousy appraisers with bad attitudes. It's a government make work program. Now the government has released a flood of quasi-governmental mentality type workers on the housing industry. Does anyone here like it when they have to count on a government worker to get something done? Some of the appraisers on this forum simply refuse to acknowledge that appraisers are often wrong, although these same people felt that HVCC was necessary because appraisers are often wrong. |
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 07:31:41 AM
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Whoa ZF-your posts are really starting to sound disjointed. Drinking and posting this weekend? Please come back when you can post in a coherent manner.
quote:
Originally posted by ZF
quote:
Originally posted by Hopland
What specifically were the issues in determining that the appraisal was of poor quality? Who decided it was of poor quality?
Just wondering.
Loan Officers like myself made the decision that the current service and charges and appraisal was of poor quality. The question deserves no real response, because I think where all shocked of the question. It may said, are you the 12th man in and the last to know. Very sad, for such a man with your knowledge and understanding. I think you better.
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 07:33:20 AM
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Boulder said:
"It's a government make work program. Now the government has released a flood of quasi-governmental mentality type workers on the housing industry."
Boulder absolutely gets it.
Dave... |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 07:36:35 AM
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| How is the government involved? |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 07:54:30 AM
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Hopland said:
"How is the government involved?"
There are none so blind as those who refuse to see.
Dave... |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 07:59:08 AM
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So you can't really answer my question or support your statement? But you can quote other people by googling quotes on the internet. Good for you! (I suppose).
Z... sorry but you're making a fool of yourself. Really. You are. |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 08:04:01 AM
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Well, there he goes again.
Z thinks there is nothing more to appraisal than houses and fannie mae appraisal reports. |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 08:06:42 AM
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I can answer any and all of your questions. Problem is, you lack either the intellectual capacity or the will to understand my answers. You choose to remain blind, in my opinion, and therefore endlessly repeating the same things over and over has become tiresome.
Dave... |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 08:08:08 AM
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quote:
I can answer any and all of your questions.
How is the government involved? |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 09:18:55 AM
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When you can count past two, child, you shall have your answer. When you failed to identify your own two questions in a post clearly containing two questions you proved to me at that exact point in time that you refuse to acknowledge things oh so obvious.
Dave... |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 10:03:55 AM
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One, two, three.
Now answer my questin: "How is the government involved?"
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 10:15:29 AM
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Sorry, first admit you blew that call, then maybe we'll talk. Admit you had two questions in that post, then we'll see.
Neither you nor Rita seem capable of that sort of thing, even when you apologize you show your true colors by immediately ruining it in saying things like "whore." (And I've never accepted even one order from a single person here, so I cannot very well be pandering OR "whoring" myself, you poor lost soul.)
See, you talk like an unhinged loon, yet expect something from me? You are seriously deluded if you expect me to take you seriously. I expect Ann to take you seriously, as she's so angry she can't see past her nose when it come to me, I get her. But you? All I intend on doing, Greg, is showing you for the man you are - lost. Let the kibutzers decide for themselves if I made the right call on you or not. |
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AlbertSmythe48
466 Posts |
Posted - 07/06/2009 : 10:27:25 AM
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quote:
Originally posted by ZF
have to establish any relationships to get work.
Does this mean kiss some loan officers *** to get work by providing comp checks to someone (and they probably be broadcasting it to 20 or more different appraisers) they have never heard of before and will probably never hear from again? |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 10:33:27 AM
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quote:
Originally posted by Adept Appraisal
Sorry, first admit you blew that call, then maybe we'll talk. Admit you had two questions in that post, then we'll see.
I've already addressed your issue in the other thread. I'm sure you have already read it but are trying to "gravitate" around it.
quote:
Dave... the question was "what do mean by ....?" The second question was "or should that be a topic for a different thread in the off topic forum?"
You did not directly answer either question so the original question was still relevant. I didn't need to answer your question about whether or not I can count to two becaue it was obviously rhetorical and a snide way of evading my question.
So now you are free to answer the question: "How is the government involved?"
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 10:36:36 AM
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I not only did not "gravitate" (whatever that must mean to you), around it, I showed you to be wrong. Admit it, admit you're the only one failing to see what you say here.
And, apologize for calling me a whore while you're at it. Or, at least have the courage to say things like that to my face.
I despise, in ways I cannot tell you, keyboard jockeys who use insults from hundreds and thousands of miles away. Children, every one.
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U812
589 Posts |
Posted - 07/06/2009 : 10:53:28 AM
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Those that "embrace" HVCC realize THEIR true worth for services rendered.
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 10:54:33 AM
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| I heard that... |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 10:55:23 AM
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A whore is someone who compromises their principles for personal gain.
Your thread topic was an issue that you stated you didn't agree with or feel was right (or something like that) but you posted it anyway because it was good advertising.
How is that not like compromising your princincples (you don't agree or don't like) for personal gain (advertising that favors your cause)? |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 11:19:37 AM
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quote:
HVCC was intended to have a complete report back in 72 hours?
Where did you get that notion?
You're assuming that by not vigorously tromping the life out of HVCC that I am automatically defending the practices of AMC's. Nothing could be further from reality.
The reason you're seeing so much inconsistency in value opinions is simply because many appraiser's no longer have a target to work with. In the past you (not you personally) have chosen only appraisers that would withdraw from the assignment if the target could not be met. You never saw low values because low value appraisals (paid ones at any rate) did not occur or occured very infrequently.
This would save you from an embarassing situation with your borrower but it is poor (and in most cases unacceptable) appraisal practice. Not only for that assignment but because it logically means that if the target could be met the appraiser has accepted an assignment where the fee was contingent on the results. |
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 11:27:52 AM
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| I think it's the average AMC that most of us don't like rather than HVCC. ZF if you could get a reasonably fast, reasonably priced appraisal done by a qualified, local appraiser that a panel or amc chose, would you be happy? Or would you still be pissed every time the appraisal came in "low"? |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 11:35:09 AM
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Spinmeister Hopland said:
"A whore is someone who compromises their principles for personal gain."
Maybe so, Californai Boy, but that ain't me. You must be thinking of someone else and your ADD is acting up again.
Everything I do, everything, is by design, and I don't compromise a damn thing for anybody, anywhere, anytime. Ever. It is pathetic that you even imagine for an instant that you know me. |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 11:40:33 AM
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| I sure that's how you see yourself. Many appraiser's see themselves in that light. |
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 11:45:31 AM
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| California Boy? Is that supposed to be insulting? |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 11:46:46 AM
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| Illinois Boy sounds funnier. |
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Chargers all the
67 Posts |
Posted - 07/06/2009 : 11:54:59 AM
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Hey, gang. I work for an AMC and we didn't just pop up as a result of legislation. I think that both sides of the argument have valid points. We all want to win.
The main problem with HVCC is that the largest banks and lenders have their own AMCs. We know of lawsuits from appraisers going after B of A / C'Wide for black-listing them for NOT pumping up the value. Also, we have a bidding war for work going on with the appraisers for appraisal work. That is wrong. When it does, quality isn't necessarily compromised because the best still may take the death ration some of the AMCs are paying.
On the other hand, when an AMC can stay busy enough to keep its appraisers also busy, the overhead, marketing costs, time spent on admin etc. that an appraiser had to go through to keep work coming in is erased. Since the advent of HVCC, our company has seen some additional business, but nothing to write home about. Why's that?
We have sound relationships with credit unions, banks and even portfolio lenders. They want a true and reliable value opinion and that's what they get. But when you look at who's really funding the bulk of volume these days from an HVCC standpoint, it's the big banks. Landsafe used to be known only for credit reports. Now they are the largest AMC. You'd think they were owned by countrywide...wait, they are! How much sense does that make??? The biggest thing HVCC has done is created a new profit center for the banks - at the cost of appraisers. That part of HVCC comes straight from the pit of hell.
But when brokers are taken out of the picture from selecting appraisers, HVCC is a good thing. If banks and credit unions don't have to participate, HVCC is really only hurting who??? The bankers, correspondent lenders and appraisers. We've been around since 1991 and very little has changed for us. Sure we'll do a few more reviews and appraisals, but HVCC has only truly empowered politicians and the big lenders and banks.
I asked a couple of appraisers last week how many AMC's lists they were on. They both were with 5 different AMC's. Wow! That's a lot. Thing is, they were all huge companies that I had heard of. Here's my point...
I know appraisers need to make money - we all want that for you. But when you are all adding to the size of the big guys, you aren't helping yourselves. If Landsafe (Countrywide), EAppraiseIT (First American) etc. didn't have the appriasers on the staff, they wouldn't get the business. If appriasers really want to get the best out of this, they need to band together and stop empowering the big guys who are owned subsidiaries of banks and large companies.
If the companies that have monopolized the business lose their strength (YOU!!!!), then things can improve once again for the appraisers. Until then, I wish all of the appraisers out there the best. |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 12:03:30 PM
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AMCs as a choice are fine, let the market decide.
AMCs via mandatory, non-voted for, rule is an abysmal distortion of the process.
That is not opinion, that's merely a fact.
LET THE MARKET DECIDE, not a group of politically connected hacks with vested interests in the results.
As for you, Rita? I see, you remained silent when I was being called a "whore" by your buddy, but now rush to his aid. What happened to you, Rita, WHAT?
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 12:07:44 PM
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Is this your company's website?
https://www.wcci.biz/index.cfm
I know there are good management companies. Hopefully you are paying the appraisers you contract with well so they can cover their costs of staying in business. An AMC that pays close to full fee, doesn't pressure appraisers for value and has reasonable turn times is a thing of beauty to behold. I'm sure it can be done if the owners aren't too greedy.
I am in favor of not allowing banks to mandate the use of a specific amc for appraisal ordering. It would solve a LOT of problems but will probably never happen. Lenders are too powerful. |
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 12:15:37 PM
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I have said a couple of times that I don't like the name calling. Maybe you missed my posts where I said that.
I've already explained what happened to me/why my opinion of you changed. Please don't make me explain it again. I just thought it was funny that you called Greg California boy-it just struck me as funny that's all. Don't take it so personally.
quote:
Originally posted by Adept Appraisal
AMCs as a choice are fine, let the market decide.
AMCs via mandatory, non-voted for, rule is an abysmal distortion of the process.
That is not opinion, that's merely a fact.
LET THE MARKET DECIDE, not a group of politically connected hacks with vested interests in the results.
As for you, Rita? I see, you remained silent when I was being called a "whore" by your buddy, but now rush to his aid. What happened to you, Rita, WHAT?
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ritabradley01
4945 Posts |
Posted - 07/06/2009 : 12:21:50 PM
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quote:
Originally posted by ZF
quote:
Originally posted by ritabradley01
I think it's the average AMC that most of us don't like rather than HVCC. ZF if you could get a reasonably fast, reasonably priced appraisal done by a qualified, local appraiser that a panel or amc chose, would you be happy? Or would you still be pissed every time the appraisal came in "low"?
I would be thrilled compared to what I am going through today. But AMC should be by choice, not forced. I think you can understand this. I have no problem using a service that offers service. My clients are everything to me.
Of course I understand-you just want reasonable service. I totally understand-one of the urgent issues is rate locks so you need fast service-I get that. If banks weren't allowed to own AMCs (and be able to exert pressures) it might solve the problem. When banks are running the show, it's all about profiting from the appraisal and that is causing a lot of the timing issues.
As Hopland has pointed out HVCC doesn't force AMC use, banks do. If we can all agree on that, perhaps we need to start figuring out a way to get REFORM of HVCC to where banks cannot own AMCs. It was in the original document then removed BY WHO and WHY?
Let's talk about this-maybe something we could all agree on??
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 12:29:56 PM
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It IS being forced. You cannot close Pandora's Box once it has opened, and every thinking adult knows that.
The very idea of rescinding HVCC has already resulted in several spot on statements suggesting that these lenders will STILL use them, because they LIKE making money off the backs of enslaved appraisers.
The only thing that can now stop this is Congress doing what it should have done in the fist place - SHUTTING THIS DISASTER DOWN.
I pray they will, you can pray for whatever, it is your right. |
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Chargers all the
67 Posts |
Posted - 07/06/2009 : 12:35:32 PM
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Rita - Yes.
Since most of the business we're doing is in the NW, our face is changing, but the back-end functionality won't. |
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Hopland
4126 Posts |
Posted - 07/06/2009 : 12:41:50 PM
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Why don't brokers just say no? Refuse to do business with banks that use AMC's.
Just like appraisers who can say no to brokers who want comp checks or a "heads up" or want the photos removed. |
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Adept Appraisal
1623 Posts |
Posted - 07/06/2009 : 12:45:55 PM
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| OMG. |
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