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Broker Ignorance on HVCC

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by JTRock, Mar 4, 2009.

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  1. JTRock

    JTRock Junior Member

    0
    Mar 1, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    I'm getting frustrated with everyone that thinks the HVCC means the end of the road. I market on a regular basis and find that loan officers think that as of May 1st they will no longer have communication with the appraiser. No one even knows if this is going to go through now with bank regulators and a large organization like the NAMB filing a lawsuit. Plus it doesn't even affect FHA loans which is all I am seeing being ordered right now. What gives??
     
  2. Caligirl

    Caligirl Senior Member

    0
    Jan 27, 2006
    Professional Status:
    Certified General Appraiser
    State:
    California
    Brokers have a responsibility to educate themselves. First they know nothing about USPAP, now they know nothing about HVCC. Look at this as part of the weeding out process-the stupider, lazier ones will finally go away.
     
  3. Mike Kennedy

    Mike Kennedy Elite Member

    123
    Sep 28, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    New York
    So do the many AF newbies who suddenly appeared out of thin air who STILL have "no clue".
     
  4. Riick

    Riick Elite Member

    33
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Never fear, just give them six months, and only 98% will have no clue.
     
  5. Ken B

    Ken B Elite Member

    101
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Got to love an optimist.
     
  6. mike32716

    mike32716 Junior Member

    0
    Jan 23, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Florida
    Brokers? Are there still brokers? :)
     
  7. Tamara Vargas

    Tamara Vargas Sophomore Member

    0
    Jan 24, 2005
    Professional Status:
    General Public
    State:
    New Jersey
    I will begin by saying I am a clueless newbie.. my appologies in advance. A broker was explaining to me today that they will no longet be able to order appraisals C.O.D. as a result of the HVCC. Is this accurate?
     
  8. Don Clark

    Don Clark Elite Member

    12
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Virginia
    Banks too

    Here is a good example of a Bank that has no clue about the HVCC.(attached pdf).
     

    Attached Files:

  9. Riick

    Riick Elite Member

    33
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Here.. have some Kool Aide.
    Read the handwriting on the wall. LINK-A-DINK
    Rental guns & bullets are available for suicides, payment in advance please.
     
  10. tlark

    tlark New Member

    0
    May 21, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Missouri
    no clue is an understatement with respect to that letter

    I only deal with one broker and they wanted to set up and manage a compliant rotation internally w/o going through the AMC route.

    They were just told by thier investors (U/Writers) that they would not be ordering the appraisals and the broker could not set there own independent rotation. The investors have not been given an offical direction by there respective leaders but had heard thats how ording was going to be done. This is one example only and just a FYI, but this thing is going to be a mess and they way its going to be inforced along with the U/Writing of the 1004MC will not be uniform as well an another FUBAR from FNMA !!!
     
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