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 02-20-2009, 10:41 AM
SmilingDog's Avatar
SmilingDog SmilingDog is offline
 
Join Date: Apr 2003
Location: California
State: California
Professional Status: Certified Residential Appraiser
Posts: 937
Default HVCC is now a FEDERAL POLICY?

I wrote many congressmen, state senators, governor, assembly representatives, etc...

Finally received one reply from a State Senate Rep.

He states, "...I have no jurisdiction over the HVCC as it was previously considered by your federal leaders in Congress and the U.S. Senate and is now a federal policy."
Since when did it become FEDERAL POLICY?

Fannie Mae is not part of the Government... not directly. The HVCC was a paper drafted by Cuomo and accepted by Fannie Mae to stave off law suits. Congress never had anything to do with it AFAIK.
__________________
Don't Believe Everything You Read
Sponsored Links

  #2  
Old 02-20-2009, 11:43 AM
Howard Klahr's Avatar
Howard Klahr Howard Klahr is offline
 
Join Date: Oct 2004
Location: South Florida
State: Florida
Professional Status: Certified General Appraiser
Posts: 2,460
Default

Quote:
Originally Posted by SmilingDog View Post
Fannie Mae is not part of the Government... not directly.
What part of the government take over in Sept 2008 makes Fannie Mae not directly part of the government?
  #3  
Old 02-20-2009, 05:24 PM
Mike Kennedy's Avatar
Mike Kennedy Mike Kennedy is offline
 
Join Date: Sep 2003
Location: Southern Hudson Valley
State: New York
Professional Status: Certified Residential Appraiser
Posts: 28,024
Default

suggest Googling the Federal Housing Finance Agency which oversees both Fannie & Freddie.

here ya go

http://www.fhfa.gov/Default.aspx?Page=4

"The Federal Housing Finance Agency (FHFA) was created on July 30, 2008, when the President signed into law the Housing and Economic Recovery Act of 2008.

In addition, this law combined the staffs of the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB), and the GSE mission office at the Department of Housing and Urban Development (HUD)"
__________________
Kill the Contract Review Bull$eye - Now.
  #4  
Old 02-20-2009, 05:31 PM
Gajope Gajope is offline
 
Join Date: Jan 2008
State: North Carolina
Professional Status: Certified Residential Appraiser
Posts: 254
Default

If he understood what the HVCC will do, he might think about trying to develop state regulations that put limitations/licensing on AMC's...Most likely he doesn't understand what the HVCC means and the danger it poses to borrowers in the fact that AMC's skim appraisal fees and influence appraisers just as much as any other appraiser client, if not more. He is wrong that he can't do anything. But of course that is a knee jerk reaction of someone who doesn't care, is ignorant or has ulterior motives.
  #5  
Old 02-20-2009, 05:51 PM
SmilingDog's Avatar
SmilingDog SmilingDog is offline
 
Join Date: Apr 2003
Location: California
State: California
Professional Status: Certified Residential Appraiser
Posts: 937
Default

Quote:
Originally Posted by Howard Klahr View Post
What part of the government take over in Sept 2008 makes Fannie Mae not directly part of the government?
I thought:

authorities necessary to oversee vital components of our country’s secondary mortgage

meant that they would oversee it not take over entirely... my bad I guess.

I think that the State Senate Rep. is probably too new and doesn't have a good understanding of the ramifications of the HVCC.
__________________
Don't Believe Everything You Read
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 06:55 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