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  #1  
Old 12-28-2008, 01:26 PM
Dropindeep's Avatar
Dropindeep Dropindeep is offline
 
Join Date: Aug 2005
Location: So. Cal
State: California
Professional Status: Certified Residential Appraiser
Posts: 64
Default Action Plan for POST HVCC 5/1/2009

Ok,

So what are some ideas of what we can do once this happens?

Go out of busness?

Non-Lender Work( not enough to go around)?
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  #2  
Old 12-28-2008, 05:39 PM
INSPECTOR INSPECTOR is offline
 
Join Date: Jul 2007
State: Florida
Professional Status: Certified Residential Appraiser
Posts: 157
Default

Quote:
Originally Posted by Craig Wallace View Post
Ok,

So what are some ideas of what we can do once this happens?

Go out of busness?

Non-Lender Work( not enough to go around)?
I'm going back to shaping boards dude.....OK seriously a lot of guys are going out of business or retiring. I would retire if my savings and 401 (now a 101) weren't wiped out. I'm going for the non-lender work and hopefully the NVS Co-op will throw some work my way. If I can find a little review work, that would be nice. If I can't find work outside of the AMC's I'll punt, speaking of which Miami just scored again WAHOO go Fins.

Good luck to you and me.
  #3  
Old 12-28-2008, 06:01 PM
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Carnivore Carnivore is offline
 
Join Date: Jan 2002
Location: Queen City
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 12,769
Default

What you can do is severly limit the amount of control an AMC can place on you.

You do this simply by reporting the most abusive to the IRS for violating employee/IC status.

this folks is will go a long way farther then any help we might get from congress.

Speaking of Congress, think State Legislatures. Most states are really hurting for tax revenue. The AMC's are taking a lot of money away from the majority of states to Pennsylvania, Virginia and a few others.

Think of these as a one two punch that will cripple all of them to the point we really will be independent.

This will force the Big banks to go inhouse with there appraisal ordering.
  #4  
Old 12-28-2008, 06:12 PM
Esox Esox is offline
 
Join Date: Apr 2008
State: Wisconsin
Professional Status: Certified Residential Appraiser
Posts: 648
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I'm hoping my four main clients, local banks, go with direct engagement through processing departments separate from the origination departments. When I've spoken to them about the HVCC over the last several months, they have indicated direct engagement would be their MO, but obviously they can change their minds. I'll be making some calls this week to discuss their plans regarding the revised HVCC now that it appears to be finalized.

Stressful times indeed.

Kevin
  #5  
Old 12-28-2008, 06:44 PM
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Carnivore Carnivore is offline
 
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Location: Queen City
State: North Carolina
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Quote:
Originally Posted by KDunn View Post
I'm hoping my four main clients, local banks, go with direct engagement through processing departments separate from the origination departments. When I've spoken to them about the HVCC over the last several months, they have indicated direct engagement would be their MO, but obviously they can change their minds. I'll be making some calls this week to discuss their plans regarding the revised HVCC now that it appears to be finalized.

Stressful times indeed.

Kevin
Kevin,

If your an alamode user then introduce them to Mercury. This will help them manage the appraisal orders interanlly and remove the need for an AMC phone monkey.

http://alamode.com/products/mortgage...efault23k.aspx
  #6  
Old 12-28-2008, 07:23 PM
Esox Esox is offline
 
Join Date: Apr 2008
State: Wisconsin
Professional Status: Certified Residential Appraiser
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Quote:
Originally Posted by Carnivore View Post
Kevin,

If your an alamode user then introduce them to Mercury. This will help them manage the appraisal orders interanlly and remove the need for an AMC phone monkey.

http://alamode.com/products/mortgage...efault23k.aspx
We use ACI, but it doesn't mean I couldn't change. We probably should, but our ACI use goes back to long before my wife and I owned the company. I'm reasonably confident that my clients are going to continue to order their own appraisals. If they tell me they've changed their minds, I will try and suggest options other than typical AMCs. Thanks for the suggestion.

Kevin

Kevin
  #7  
Old 12-28-2008, 08:03 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,700
Default

My post-HVCC "plan" is VERY similar to my pre-HVCC "plan": Avoid, if conditions are not to my liking, working for either AMCs or mortgage brokers.
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Lee Lansford, IFA
"My opinions & my opinions only!"
  #8  
Old 12-28-2008, 08:27 PM
Jan Roseberry Jan Roseberry is offline
 
Join Date: Sep 2002
Location: Dover, Ohio
State: Ohio
Professional Status: Certified Residential Appraiser
Posts: 1,507
Default Business as usual (hopefully)!

My clients are local banks with majority hard money lenders. Occasionally they sell to Freddie and Fannie direct (retain servicing) with only correspondent lending for FHA/VA loans. They have all changed ordering procedures in past 6 months and I have no contact with loan officers.

My only concern is that I think the orders should be automatically rotated (the way I read/interpret the document) but I am not sure the banks are rotating assignments.
  #9  
Old 12-28-2008, 09:18 PM
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Howard Klahr Howard Klahr is offline
 
Join Date: Oct 2004
Location: South Florida
State: Florida
Professional Status: Certified General Appraiser
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Quote:
Originally Posted by Craig Wallace View Post
Ok,

So what are some ideas of what we can do once this happens?

Go out of busness?
Non-Lender Work( not enough to go around)?
I have said it before and I'll say it again - the sky is falling, the sky is falling.

For those who truly do not know what to do, start by reading and understanding the book "Who Moved My Cheese".
  #10  
Old 12-29-2008, 07:48 PM
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Bigrock Bigrock is offline
 
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State: Georgia
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Default

set up your own AMC,,,,

Why NOT....
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