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HVCC-Seems ok, tell me why I'm wrong

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Rescomb,

"What are you talking about? The MB doesn't contact the AMC for any reason at any time. The lender that they submit the loan to is the one that orders the appraisal. The MB won't even know which AMC or appraiser is used."

You have to be joking! AMC's and lenders talk all the time. Lenders tell AMC's which appraisers to use! Wasn't this part of Cuomo's claim? Wasn't there an admission by eAppraiseIt that this was going on? Mortgage brokers are going to do the same thing. The HVCC is all window dressing so it "appears" there is an unbiassed 3rd party who gets half of the appraisers fee. If MB's don't want to order an appraisal now without knowing if the property will appraise at the predetermined value, what makes you think the HVCC is going to stop them?
 
No I don't understand this, excuse me. And no, I don't stand in line with the rest of the world when they are jumping off a cliff.
 
I got an email a few days ago from an AMC company I have never heard of. He stated that if I referred any MB's to him, all I would have to do is let him know that I referred them and he would be sure I got the order. Has anyone else received the same email?
 
Silverstreak,

Thanks for backing me with your first post. Wake up people! The HVCC isn't going to stop the MB's and it shouldn't. I wouldn't refer any MB's to any AMC. The HVCC is NOT a done deal and it is documentation like this that may stop it. If the MB is hell bent on going to an AMC out of fear than by all means make sure the MB gets you a good split. Let the MB know that you are not working for peanuts.

Now for some real fun shop around for the MB. Call around to the AMC's and find out which ones will give you the highest split while charging the MB the least for an appraisal.

I'm sure some folks are going to be offended by my suggestion but I'm offended by any the government officials that wants to give away half of my fee.
 
smackodu said:
I'm sure some folks are going to be offended by my suggestion but I'm offended by any the government officials that wants to give away half of my fee.
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Suggest that rifle :new_2gunsfiring_v1:be directed where it belongs, the LENDERS choose to order DIRECT, or use an AMC. The LENDERS choose to use AVhums and BPOs versus Appraisals. Title XI and RESPA, OCC, OTS, and FDIC Regulations - GAVE them that choice - LONG BEFORE the Home Valuation Protection Agreement.

The Regulators appointed by the Federal and State Pols who ARE owned by the Lobby are there to ensure the Game Plays on. Certain Regulator oversaw the GSE debacle for two years - knew it was happening, empowered it, and got promoted because of it. Every Chief Risk Officer and every Chief Appraiser has the CHOICE to end the game. It continues simply because THEY fund it. Examples:

http://appraisersforum.com/showthread.php?t=145870

http://appraisersforum.com/showthread.php?t=149707

Many Regional and Local Lenders tested the AMC water - instantly recognized it has exceeded their Boiling Points - and order direct. Portfolio and Hard Money lenders KNOW better and order direct. Many Personal Trust Divisions of both Majors and Regional/Locals order DIRECT.

The majors won't until the Fed Reserve Board, the OCC, the OTS, the FDIC, the "new head" of the FHFA, Lender Shareholders, and the American Consumer force them to.

Diversify. The Choice has been, and remains, ours.
 
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silverstreak said:
I got an email a few days ago from an AMC company I have never heard of. He stated that if I referred any MB's to him, all I would have to do is let him know that I referred them and he would be sure I got the order. Has anyone else received the same email?
Click to expand...

No, but thanks for pointing it out. Anyone who thinks that exactly what you stated happened will NOT become common practice is just plain stupid.
 
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