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  #1  
Old 03-04-2009, 12:27 PM
JTRock JTRock is offline
 
Join Date: Mar 2007
State: Texas
Professional Status: Certified Residential Appraiser
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Default Broker Ignorance on HVCC

I'm getting frustrated with everyone that thinks the HVCC means the end of the road. I market on a regular basis and find that loan officers think that as of May 1st they will no longer have communication with the appraiser. No one even knows if this is going to go through now with bank regulators and a large organization like the NAMB filing a lawsuit. Plus it doesn't even affect FHA loans which is all I am seeing being ordered right now. What gives??
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Old 03-04-2009, 12:29 PM
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Caligirl Caligirl is offline
 
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State: California
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Brokers have a responsibility to educate themselves. First they know nothing about USPAP, now they know nothing about HVCC. Look at this as part of the weeding out process-the stupider, lazier ones will finally go away.
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Old 03-04-2009, 12:30 PM
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Mike Kennedy Mike Kennedy is offline
 
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State: New York
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So do the many AF newbies who suddenly appeared out of thin air who STILL have "no clue".
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  #4  
Old 03-04-2009, 12:41 PM
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Riick Riick is offline
 
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Quote:
Originally Posted by Mike Kennedy View Post
So do the many AF newbies who suddenly appeared out of thin air who STILL have "no clue".
Never fear, just give them six months, and only 98% will have no clue.
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Old 03-04-2009, 12:42 PM
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Ken B Ken B is offline
 
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Got to love an optimist.
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  #6  
Old 03-04-2009, 12:54 PM
mike32716 mike32716 is offline
 
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Brokers? Are there still brokers?
  #7  
Old 03-18-2009, 01:31 PM
Tamara Vargas Tamara Vargas is offline
 
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State: New Jersey
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I will begin by saying I am a clueless newbie.. my appologies in advance. A broker was explaining to me today that they will no longet be able to order appraisals C.O.D. as a result of the HVCC. Is this accurate?
  #8  
Old 03-18-2009, 02:37 PM
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Don Clark Don Clark is offline
 
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Location: Virginia Beach, Virginia
State: Virginia
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Talking Banks too

Here is a good example of a Bank that has no clue about the HVCC.(attached pdf).
Attached Files
File Type: pdf bank letter.pdf (25.0 KB, 98 views)
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  #9  
Old 03-18-2009, 02:53 PM
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Quote:
Originally Posted by Tamara Vargas View Post
I will begin by saying I am a clueless newbie.. my appologies in advance. A broker was explaining to me today that they will no longet be able to order appraisals C.O.D. as a result of the HVCC. Is this accurate?
Here.. have some Kool Aide.
Read the handwriting on the wall. LINK-A-DINK
Rental guns & bullets are available for suicides, payment in advance please.
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  #10  
Old 03-18-2009, 02:55 PM
tlark tlark is offline
 
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State: Missouri
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Default

no clue is an understatement with respect to that letter

I only deal with one broker and they wanted to set up and manage a compliant rotation internally w/o going through the AMC route.

They were just told by thier investors (U/Writers) that they would not be ordering the appraisals and the broker could not set there own independent rotation. The investors have not been given an offical direction by there respective leaders but had heard thats how ording was going to be done. This is one example only and just a FYI, but this thing is going to be a mess and they way its going to be inforced along with the U/Writing of the 1004MC will not be uniform as well an another FUBAR from FNMA !!!
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