Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > Fannie Mae, Freddie Mac, USPAP
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 02-01-2009, 10:27 AM
avaziri avaziri is offline
 
Join Date: Sep 2008
State: Indiana
Professional Status: Certified Residential Appraiser
Posts: 7
Default violations of the HVCC

Can some one please let me know if an appraisal managment company reviews your apprasial and then suggest you review sales information in the area that they feel are better comparables?? Can I please get some feedback on this. Do they violate the HVCC

Home valuation code of conduct

#10 any other act or practice that impairs or attemps to impair an appraisers objectivity, or impartiality or violates law or regulation, including, but not limited to, Truth in lending Act and Regulation Z, or USPAP
Sponsored Links

  #2  
Old 02-01-2009, 10:37 AM
PropertyEconomics's Avatar
PropertyEconomics PropertyEconomics is offline
 
Join Date: Jun 2007
Location: Central New Mexico
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 18,854
Default

Since the HVCC has not taken effect, how they do business today may have no relation as to how they do business after May 1. Only time will tell, and at that point, a call to the hotline would be in order to get the answer to your question.
At this point I would say, simply, no one knows as it is not a regulation and has not been inforced to this point.
__________________
Foxtrot, Uniform, Charlie, Kilo Cancer ... In memory of our friend Bill Waite!
  #3  
Old 02-01-2009, 10:47 AM
SmilingDog's Avatar
SmilingDog SmilingDog is offline
 
Join Date: Apr 2003
Location: California
State: California
Professional Status: Certified Residential Appraiser
Posts: 937
Default

PE, what's the hotline number???

You don't mean the unemployment office?
__________________
Don't Believe Everything You Read
  #4  
Old 02-01-2009, 10:48 AM
avaziri avaziri is offline
 
Join Date: Sep 2008
State: Indiana
Professional Status: Certified Residential Appraiser
Posts: 7
Default

Quote:
Originally Posted by avaziri View Post
Can some one please let me know if an appraisal managment company reviews your apprasial and then suggest you review sales information in the area that they feel are better comparables?? Can I please get some feedback on this. Do they violate the HVCC

Home valuation code of conduct

#10 any other act or practice that impairs or attemps to impair an appraisers objectivity, or impartiality or violates law or regulation, including, but not limited to, Truth in lending Act and Regulation Z, or USPAP

If not a violation of the HVCC is it "Undue Influence"
  #5  
Old 02-01-2009, 10:53 AM
PropertyEconomics's Avatar
PropertyEconomics PropertyEconomics is offline
 
Join Date: Jun 2007
Location: Central New Mexico
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 18,854
Default

Quote:
Originally Posted by SmilingDog View Post
PE, what's the hotline number???

You don't mean the unemployment office?

They havent released the hotline number yet either ... again only time will tell .. it may never see the light of day .. at this point No One Really Knows!!

And PS Dog .... the number to the unemployment office here .. according to news reports ... has just rang and rang for MONTHS!! No one answers.
__________________
Foxtrot, Uniform, Charlie, Kilo Cancer ... In memory of our friend Bill Waite!
  #6  
Old 02-01-2009, 10:58 AM
J Grant's Avatar
J Grant J Grant is offline
 
Join Date: Dec 2003
State: Florida
Professional Status: Certified Residential Appraiser
Posts: 22,429
Default

Appraisers need to be proactive and alert your state board, state reps to congres,, the media, bank regulators and anyone else that might be of interested, that this is occuring., esp as the AMC has the power to simply not give work anymore to appraisers who are not cooperative re their "suggested better sales". The more this type of activity is out in the open, the more it lets people know how the large AMC's really operate, and how their business model is in direct opposition to what they purport to be about, a buffer between appraiser and lender, supposedly in compliance with the HVCC ( which has not passed yet, but AMC's are selling themelves to lenders as being in compliance, clearly they are not, under HVCC, the AMC is just one venue for appraisal ordering, the lenders can stil order themselves, just through non lender personel). l
  #7  
Old 02-01-2009, 11:11 AM
PropertyEconomics's Avatar
PropertyEconomics PropertyEconomics is offline
 
Join Date: Jun 2007
Location: Central New Mexico
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 18,854
Default

There is a question here that needs to be asked ... exactly WHO did the requests for additional data and information? The AMC or the underwriter? Is the underwriter working FOR the lender?
This may not be an AMC problem but a lender problem.

I believe in any event, I would send a copy of the request along with a very professionally written letter to the CEO of the lender .... it would be interesting to know if HE/SHE knows what is occurring. Of course if they do, you have lost a client. If they dont, you may have just started a trend.
__________________
Foxtrot, Uniform, Charlie, Kilo Cancer ... In memory of our friend Bill Waite!
  #8  
Old 02-01-2009, 11:15 AM
avaziri avaziri is offline
 
Join Date: Sep 2008
State: Indiana
Professional Status: Certified Residential Appraiser
Posts: 7
Default

They hang there hat and the reputation of the company on the fact that they are HVCC compliant.... then how can they suggest i use any sales... to let you know the sales the suggested i use are $70,000 higher than the appraised value????
  #9  
Old 02-01-2009, 11:17 AM
avaziri avaziri is offline
 
Join Date: Sep 2008
State: Indiana
Professional Status: Certified Residential Appraiser
Posts: 7
Default

The Cheif Corpporate Appraiser of the AMC ask me to review his sales
  #10  
Old 02-01-2009, 11:21 AM
PropertyEconomics's Avatar
PropertyEconomics PropertyEconomics is offline
 
Join Date: Jun 2007
Location: Central New Mexico
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 18,854
Default

Quote:
Originally Posted by avaziri View Post
The Cheif Corpporate Appraiser of the AMC ask me to review his sales

I dont believe that is a violation .... pressure to use other sales may be ... but asking you to review other sales they have wouldnt be on its pure face.
__________________
Foxtrot, Uniform, Charlie, Kilo Cancer ... In memory of our friend Bill Waite!
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 10:24 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93