Appraisal Changes as of 2009

[laurielutton]

Can anyone tell me the best place to read up or research the changes that will take place in 2009??? I am still very unclear about these new changes and have read much mixed information about what they really mean. I work independantly from my "home office" so I am pretty sure that I am NOT an "in house" appraiser. If appraisers are not to have any contact with the broker ( or client ) then how will we get our work?
Half of what I read states that the changes will never happen and the other half states that it will force the majority of us out of business.

 

[Greg Bell]

I wouldn't worry about till it happens.Most is just smoke blowing.There will be some changes but not as dramatic as some of the goofball proposals flying around from nit wit politicians.I bet my home office is the smallest in the nation.I can swivel my chair and reach all that is needed without leaving my chair , now that's space utilization..

 

[laurielutton]

I think that we may be sharing the same office! I am hopefull of the smoke blowing but I try to be prepared for what the future might bring.
Thanks for your feedback. Much appreciated!

 

[Bama Bayou]

I wouldn't worry about till it happens.Most is just smoke blowing.There will be some changes but not as dramatic as some of the goofball proposals flying around from nit wit politicians.I bet my home office is the smallest in the nation.I can swivel my chair and reach all that is needed without leaving my chair , now that's space utilization..

You have to swivel your chair?

 

[Karl]

All depends!!

 

[Riick]

"All depends!!"
Humm... no space for a bathroom ???

 

[RSW]

Just search HVCC in the search feature of this forum.

 

[TN Pro]

Just search HVCC in the search feature of this forum.

But then she will have to wade through 5 thousand posts of speculation,desperation and infighting.

My new motto is i will believe it when i see it.

Dean

 

[laurielutton]

But then she will have to wade through 5 thousand posts of speculation,desperation and infighting.

My new motto is i will believe it when i see it.

Dean

Thank you Dean,
I did not want to seem lazy. I am more than willing to do my research however, on this topic I just feel at a dead end. I tried to seach old posts but that could very well take me the rest of the year.

How come no one knows the answer to this???

 

[Lloyd Bonafide]

From Ann O'Rourke's free Appraisal Today newsletter:

http://appraisaltoday.com/

Last week I attended a mortgage-related conference where representatives of OFHEO, Fannie, and Freddie spoke.

If you listen between the lines, like I do, it was clear that HVCC implementation, if any, will not be until mid to late 2009, after Fannie's and Freddie's Seller Servicer Guides are revised.

Who sent in letters opposing the HVCC? Of the 7,360 emails sent to Fannie Mae (not including the 30,000+ emails and letters sent by a la mode):
Mortgage brokers - 60%
Appraisers - 10%
Lenders - 10%
Others - 14%

Fannie also received 34 formal letters from large lenders and 31,796 calls to action by email and hard copies.

Most lenders plan on using AMCs for their wholesale (mortgage broker) loans. Trying to set up their own in-house ordering is expensive and a real hassle for a lender doing national wholesale business.