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BANK REGULATORS call 4 HVCC Withdrawal

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Mike Kennedy, Jan 19, 2009.

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  1. Mike Kennedy

    Mike Kennedy Elite Member

    184
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
  2. Green Hornet

    Green Hornet Senior Member

    0
    Dec 29, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    And yet it continues to move forward. I don't understand how almost every organization/lobby, except that of the AMC's, is against the HVCC and it still has a heart beat.

    Does Cuomo have such nasty dirt on Fan and Fred that nothing will stop the HVCC?
     
  3. SmilingDog

    SmilingDog Member

    0
    Apr 22, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Just wait until after tomorrow. The new administration will set things straight... no I'm not taking political sides... it's just that changes are coming, and I doubt the new administration will allow the HVCC to move forward and destroy more jobs and the fasbric of the American mortgage and appraisal industries.
     
  4. Dan Umstead

    Dan Umstead Senior Member

    23
    May 26, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    Sounds like smarter minds have read the HVCC and understand the negative consequences.
     
  5. Riick

    Riick Elite Member

    41
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Just what did you think he had on them.... that they signed on the dotted line?????
    Submit to Blackmail because of a tendency to smell roses?
     
  6. Green Hornet

    Green Hornet Senior Member

    0
    Dec 29, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    Riick,

    True, they would not have signed had he not had some really bad stuff. That was before they failed. A lot has come out about them since the take over.

    I thought that they had some dirty secrets and they were afraid of Cuomo lauching a more indepth investigation.

    Usually the motivation to submit to blackmail is removed once everyone knows the dirty secrets. This indicates to me that there is more nasty stuff stewing in the bowels that is worse than what we now know.
     
  7. panappr

    panappr Senior Member

    5
    Dec 5, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    The fact that they are not pursuing the investigation is hypocritical to the HVCC which has a mission to protect the public trust. If I embezzled millions of dollars and was able to stop the investigation and go free by plea bargaining, what does that say about Fannie Mae?. Fannie Mae has been the root of the problem all along, yet they are the dictator over our profession.
     
  8. texaskeith

    texaskeith Sophomore Member

    0
    Mar 21, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Independence comes with a price just like freedom. Neither are free and both take work. Unfortunately there are those who despise independence because it keeps the remote out of their hands. You want to know who is the problem, listen for the guy complaining out of one side of his face and winking with the other.
     
  9. Randolph Kinney

    Randolph Kinney Elite Member
    Gold Supporting Member

    100
    Apr 7, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    So we know what is really important from the regulator's point of view is not impacting credit to the consumer. That might lead to a less reliability and accuracy in that AVMs and BPOs will be substituted.

    And that is very true, the existing laws and regulations already address the very same problem that the HVCC is supposedly solving. Since none of the existing structure prevented this mess from occurring or was enforced, why add more sugar coating to something that won't work for the same reasons? :shrug:
     
  10. emad rayyan

    emad rayyan New Member

    0
    Nov 1, 2006
    Professional Status:
    Licensed Appraiser
    State:
    California
    That is really good news for us. I've never prayed so much in my life...
     
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