HVCC FREAB Teleconference

[Deuce of Spades]

So have you sent your thoughts to FREAB? or DBPR?
I will be sending my via e-mail to the FREAB chair, as I want to make sure they are read.
Anyone want their's sent as well? I will be stating these are collective thoughts by individual appraisers not just mine. I will be sending it this afternoon.
Let me know

 

[Wendy]

So have you sent your thoughts to FREAB? or DBPR?
I will be sending my via e-mail to the FREAB chair, as I want to make sure they are read.
Anyone want their's sent as well? I will be stating these are collective thoughts by individual appraisers not just mine. I will be sending it this afternoon.
Let me know

Feel free to add mine as posted earlier.

 

[BOB PADRICK]

Please send mine on as well. Thanks!

 

[Deuce of Spades]

e-mail sent to the chair with Bob's, Wendy's and my thoughts -

 

[Wendy]

thank you!

 

[Mike Phillips]

And send mine as well.

Add the point Wendy made about disclosing AMC/appraisal fees on the HUD-1 to my comments.

I'd like to see all of you reconsider my comments regarding bringing the borrower into the loop. I don't like liability either, but the fact is, Skippiest Maximus & Flock hides behind the lender/client. AMCs require "lender compliant" appraisals; NOT USPAP compliant appraisals. That appraisal needs to conform to the borrower's needs as well - his risk level as well - not just the AMC's/lender's risk.

We need to accept the public trust as our master - not the GD mortgage industry. We need a higher purpose. I have a stake, and YOU have a stake in every appraisal produced if it is backed by the government. It is my/our tax dollars that back mortgage loans - one way or another.

Also consider the requirements for becoming a Licensed appraiser. We don't have that problem in Florida, thank God. And if you think I'm joking take a hard look at Licensed licensee numbers in CA. It is a national problem. The Licensed level appraiser can get into the business, set up shop, and start competing with us (unsupervised) in half the time it takes the Certified candidate to do so. And here is the kicker - they are exempt from the new AQB requirements, which means the door is still wide open in most states. Not good. Only a few states are working to eliminate the Licensed category - we need to support the idea.

 

[Kathleen Bryce]

Missed the teleconference, would someone summerize here. Thanks.

BTW, do you know if it is posted online?

Kat

 

[Deuce of Spades]

Hate to say it, but I missed it too! Had a job that had me out all morning. anyone else listen in? Pam?

 

[Michael Tipton]

e-mailed my comments to Ms. Herndon after the teleconference. Limited public comment time restricted "live" comments.

 

[Howard Klahr]

Limited public comment time restricted "live" comments.

No one was turned away. All of those that came forward to comment were heard.

The call began with each member of the board providing comment on the issue. Then the Director of DBPR provided comments from the perspective of the dept. Everyone provided excellent points addressing many issues raised by the proposed agreement.

There is another conference call scheduled for June 30th to allow the board members to comment on a draft of the letter prior to it being sent.

I came away from the call confident that FREAB and the DPBR is very well apprised of the issues and that appropriate comments will be forth coming.