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Can the HO violate HVCC?

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by OSU Beavers, Sep 3, 2009.

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  1. OSU Beavers

    OSU Beavers Elite Member

    7
    Jan 10, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Oregon
    Can the lender's AMC violate HVCC through the HO?

    Ok let me restate the question:

    Is it an HVCC violation if the lender's AMC calls the homeowner and tells them to call the appraiser to push value and/or turn time after the inspection, but before the report is issued?


    Should the appraiser call foul on the AMC, ask for a partial fee and walk way without completing the report?
     
    Last edited: Sep 4, 2009
  2. PropertyEconomics

    PropertyEconomics Elite Member

    0
    Jun 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico
    A homeowner is under NO obligation to follow HVCC ... the HVCC ONLY applies to lenders ... it doesnt even regulate appraisers other than prohibiting collection of fees at the door .... Im shocked that more have not read what the document SAYS ....
    It is REQUIRED the homeowner / borrower receive a copy of the appraisal three days prior to closing ... why do you think you can ask for your money back ?????

    READ THE DOCUMENT
     
  3. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Why not just ignore them and/or tell them to contact your client?

    Or - tell them that you will have to report them to the IVPI. When they say: "What's that?" Just say: "It's a federal enforcement team, but you don't even want to know".
     
  4. NORTON

    NORTON Senior Member

    0
    Oct 10, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    in Cali....sb 223

    Prohibits any person with an interest in a real estate transaction involving an appraisal from improperly influencing, or attempting to improperly influence, an appraisal sought in connection with a mortgage loan

    so the question becomes....what can be done to the homeowner?....i'm sure the HO would feel the effect's of his action(s) if u stated within the report the borrower called and attempted to influence value!
     
  5. TJSum

    TJSum Elite Member

    4
    Nov 12, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Every so often our local police conduct a sweep and round up all the Ho's, but I don't think it is for violating the HVCC. :new_all_coholic:
     
  6. JTip

    JTip Senior Member

    90
    Oct 12, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Pennsylvania
    Looked at one this week. Sold 11/08 110k. New roof. Old mls interior pics are a spot on match to my current pics. Owner says, "We are going to need 145-150." "How about dem Steelers, burger boy is lookin' strong", I said.

    I get bullied more by the duck.:flowers:
     
  7. Lloyd Bonafide

    Lloyd Bonafide Senior Member

    0
    Jan 15, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    Burger Boy had better stop trying to rape young ladies, (allegedly), or else it could be a tough year for the Steelers.
     
  8. PropertyEconomics

    PropertyEconomics Elite Member

    0
    Jun 19, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Mexico

    A state law has nothing to do with the HVCC ... there are distinct differences and a homeowner is not bound by the HVCC in any manner. The HVCC actually has no legal standing as best as I can tell .. its a voluntary program that every lender is abiding by because Fannie and Freddie say they have to ... nothing more and again there is nothing in the HVCC regarding conduct of a homeowner.
     
  9. smackodu

    smackodu Senior Member

    0
    Aug 5, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    That is some funny stuff right there Norton. If I'm the homeowner trying to do a refi or I'm the homeowner trying to sell a property and the appraisal is a piece of crap I have to ask my self WTF have I got to lose. The appraiser is going to hear from me! THERE ARE NO PENALTIES FOR VIOLATING THE HVCC except that the loan can't be sold to Fannie and Freddie. DO YOU REALLY BELIEVE THAT A LENDER IS GOING TO SAY ANYTHING OTHER THAN THE LOAN IS HVCC COMPLIANT? :new_blowingup:
     
  10. OSU Beavers

    OSU Beavers Elite Member

    7
    Jan 10, 2007
    Professional Status:
    Licensed Appraiser
    State:
    Oregon
    Ok let me restate the question:

    Is it an HVCC violation if the lender's AMC calls the homeowner and tells them to call the appraiser to push value and/or turn time?
     
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