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Does this affect HVCC?

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by Don Clark, Jan 21, 2009.

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  1. Don Clark

    Don Clark Elite Member

    7
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Virginia
    Hot off the press:

    SAN FRANCISCO -- President Barack Obama's administration asked all federal agencies and departments to stop any pending regulatory changes until a review can be conducted, Reuters reported Tuesday. A memorandum, signed by White House Chief of Staff Rahm Emanuel, was sent to agencies and departments to stop all pending regulations until a legal and policy review can be conducted by the new administration, the news agency said.

    So, would the HVCC be considered a "pending regulatory change"?
     
  2. TXCBoy36

    TXCBoy36 Junior Member

    0
    Oct 3, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    Check other entries

    Check other listings...I think this subject has already been brought up...

    John:new_2gunsfiring_v1:
     
  3. VolcanoLvr

    VolcanoLvr Senior Member

    6
    Oct 30, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    I have a contact ‘inside’ FannieMae. I asked this question of that individual:

    “this msg concerns the HVCC………….

    Appraisers around the US are asking (via various web sites) if this new regulation is one that will be ‘put on hold’ with Pres. Obama’s announcement to Agencies to delay implementation of recently approved regulations until further review is done by his administration.”

    The answer I received:

    “the HVCC is not a regulation; it is an agreement among the four parties and is to be implemented through the Fannie Mae and Freddie Mac contracts with those that sell loans to us.”
     
  4. USPAP Compliant

    USPAP Compliant Elite Member

    2
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    “the HVCC is not a regulation; it is an agreement among the four parties and is to be implemented through the Fannie Mae and Freddie Mac contracts with those that sell loans to us.”

    Some of us us have noted that over and over and over....to no avail. There is much difference between a law, regulation, agreement and rule.
     
  5. TXCBoy36

    TXCBoy36 Junior Member

    0
    Oct 3, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado

    How the heck is an agreement....I never agreed to any of this....if it is an agreement.....then it needs to not negatively effect the appraisal community....that is the stupidist thing I have ever heard....AGREEMENT...lol

    They are altering all of the policies....and all of the banks are altering theirs to fit with their policies....

    m2:
     
  6. Tawfik Ahdab

    Tawfik Ahdab Senior Member

    0
    Feb 19, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Oregon
    When did the appraisal community agree to this "agreement" regulating appraisers?
     
  7. USPAP Compliant

    USPAP Compliant Elite Member

    2
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    You are not part of the agreement. The agreement is (proposed) between FannieMae, FreddieMac and the Attorney General of New York.

    Appraisers are not part of the agreement.
     
  8. Tawfik Ahdab

    Tawfik Ahdab Senior Member

    0
    Feb 19, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Oregon
    Yes, but appraisers are being regulated, such that - from our perspective - the distinction between agreement and regulation is deceptive and sophistic.

    In any case, four of the five federal banking regulators don't agree with the HVCC.

    http://appraisersforum.com/showthread.php?t=150544
     
  9. TXCBoy36

    TXCBoy36 Junior Member

    0
    Oct 3, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    ?

    Are you kidding....we are right in the middle of this agreement...it directly affects ANY appraiser who does appraisal assignments for any loan that is sold to FNMA.....and we are held accountable.....how are we not part of the agreement....

    This D*mn agreement dictates how we do business....ends our long term relationships with existing clients (unless they do FHA)....they are allowing AMC's control and they are not interested in appraisers at all....they figure that there are so many of us out there....that they do not care if we refuse to work for a lesser fee....they will continue on until they find an appraiser who is willing....

    Sounds like we are very much involved in this agreement.....we just have no say in the agreement.

    m2:
     
    Last edited: Jan 23, 2009
  10. USPAP Compliant

    USPAP Compliant Elite Member

    2
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    Sure we will be affected by any agreement...but we are not a party to the agreement. We have no vote and will not be signing the agreement.


    GM & Ford come to an agreement with their suppliers, lenders...and even their unions.

    I am a consumer, I buy cars......but I am not a part of or a party to their agreements.


    FannnieMae and FreddieMac do not need the permission of appraisers to enter into agreements.
     
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