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  #1  
Old 09-03-2009, 08:19 PM
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OSU Beavers OSU Beavers is offline
 
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Default Can the lender's AMC violate HVCC through the HO?

Ok let me restate the question:

Is it an HVCC violation if the lender's AMC calls the homeowner and tells them to call the appraiser to push value and/or turn time after the inspection, but before the report is issued?


Should the appraiser call foul on the AMC, ask for a partial fee and walk way without completing the report?
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Last edited by OSU Beavers : 09-03-2009 at 11:50 PM. Reason: restated the question
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Old 09-03-2009, 09:22 PM
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A homeowner is under NO obligation to follow HVCC ... the HVCC ONLY applies to lenders ... it doesnt even regulate appraisers other than prohibiting collection of fees at the door .... Im shocked that more have not read what the document SAYS ....
It is REQUIRED the homeowner / borrower receive a copy of the appraisal three days prior to closing ... why do you think you can ask for your money back ?????

READ THE DOCUMENT
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  #3  
Old 09-03-2009, 09:23 PM
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Why not just ignore them and/or tell them to contact your client?

Or - tell them that you will have to report them to the IVPI. When they say: "What's that?" Just say: "It's a federal enforcement team, but you don't even want to know".
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Old 09-03-2009, 09:47 PM
NORTON NORTON is offline
 
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in Cali....sb 223

Prohibits any person with an interest in a real estate transaction involving an appraisal from improperly influencing, or attempting to improperly influence, an appraisal sought in connection with a mortgage loan

so the question becomes....what can be done to the homeowner?....i'm sure the HO would feel the effect's of his action(s) if u stated within the report the borrower called and attempted to influence value!
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Old 09-03-2009, 09:51 PM
TJSum TJSum is offline
 
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Every so often our local police conduct a sweep and round up all the Ho's, but I don't think it is for violating the HVCC.
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Old 09-03-2009, 09:52 PM
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Quote:
Why not just ignore them and/or tell them to contact your client?
Looked at one this week. Sold 11/08 110k. New roof. Old mls interior pics are a spot on match to my current pics. Owner says, "We are going to need 145-150." "How about dem Steelers, burger boy is lookin' strong", I said.

I get bullied more by the duck.
  #7  
Old 09-03-2009, 10:00 PM
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Burger Boy had better stop trying to rape young ladies, (allegedly), or else it could be a tough year for the Steelers.
  #8  
Old 09-03-2009, 10:12 PM
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Quote:
Originally Posted by NORTON View Post
in Cali....sb 223

Prohibits any person with an interest in a real estate transaction involving an appraisal from improperly influencing, or attempting to improperly influence, an appraisal sought in connection with a mortgage loan

so the question becomes....what can be done to the homeowner?....i'm sure the HO would feel the effect's of his action(s) if u stated within the report the borrower called and attempted to influence value!

A state law has nothing to do with the HVCC ... there are distinct differences and a homeowner is not bound by the HVCC in any manner. The HVCC actually has no legal standing as best as I can tell .. its a voluntary program that every lender is abiding by because Fannie and Freddie say they have to ... nothing more and again there is nothing in the HVCC regarding conduct of a homeowner.
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Old 09-03-2009, 11:39 PM
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Quote:
Originally Posted by NORTON View Post
in Cali....sb 223

Prohibits any person with an interest in a real estate transaction involving an appraisal from improperly influencing, or attempting to improperly influence, an appraisal sought in connection with a mortgage loan

so the question becomes....what can be done to the homeowner?....i'm sure the HO would feel the effect's of his action(s) if u stated within the report the borrower called and attempted to influence value!
That is some funny stuff right there Norton. If I'm the homeowner trying to do a refi or I'm the homeowner trying to sell a property and the appraisal is a piece of crap I have to ask my self WTF have I got to lose. The appraiser is going to hear from me! THERE ARE NO PENALTIES FOR VIOLATING THE HVCC except that the loan can't be sold to Fannie and Freddie. DO YOU REALLY BELIEVE THAT A LENDER IS GOING TO SAY ANYTHING OTHER THAN THE LOAN IS HVCC COMPLIANT?
  #10  
Old 09-03-2009, 11:48 PM
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Ok let me restate the question:

Is it an HVCC violation if the lender's AMC calls the homeowner and tells them to call the appraiser to push value and/or turn time?
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