CONGRESSIONAL ACTION??????

[bobburnitt]

My Congressman's office called me yesterday in response to the numerous e-mails I have sent them regarding lender coercion of appraisers. We had a long discussion regarding this issue. I explained the problem as I see it. His office wants to know more on the issue.

I would appreciate it very much if the people who post on this forum, who are as sick of this practice as I am, would send him an e-mail describing the problem.

I told the spokesperson I was dealing with that the problem, to me, is non-enforcement of existing regulation, and the idiotic expectation that someone working on commission will not interfere with the process.

My recommended solution is not more regulation, but enforcement of exisisting regulation, higher requirements for appraisers (which would require some changes to regulation), and taking commissioned loan salesmen out of the process of selecting, approving, or participating in the appraisal process in any way.

The ridiculous concept of AVM's was not discussed.

What I am asking you to do is send him an e-mail right away. Let his office know that I am not the only one experiencing this problem. I would like e-mails from coast to coast to demonstrate that this is a national problem.

To e-mail him, you will have to access his website, click on e-mail, and log-in. His website is www.house.gov/barton/

His name is Joe Barton, and he represents the 6th Congressional District in Texas.

To Wayne: I know this should probably go in the political discussion section, but I thought maybe more people would see it under general discussion.

BB in Texas

 

[Pamela Crowley (Florida)]

Congratulations Bob and I'll send one as soon as I get free this evening!!

This is fantastic!!!!

Wayne, I agree that this should be left in the General Forum at least for a while, please.

 

[bobburnitt]

You Texas appraisers would do well to contact my state representative, Jim Pitts of District 10. He sits on the Texas House Committee on Financial Institutions. I spoke to his district manager recently, and complained of the lack of enforcement of the rules of the appraiser game.

You may e-mail Jim at JimPitts@house.state.tx.us

Mr. Pitts' office has helped me in the past with appraiser related problems. I would like for his office to receive some e-mails from other appraisers to demonstrate that it is not just me that is sick of it.

Thanks,

BB in Texas

 

[Rick Neighbors]

Good job Bob! I too will send a nice email to the Congressman. I wonder if the good Congressman has seen our petition??

I just had a little run-in with a local lender, actually with one of the loan officers that works on commission. Unknown to her, I knew her boss. Things got handled.

Rick

 

[Karl]

Send a copy of petition, names from all 50 States Some being Honest Mortgage Co's, RE Agents & Homeowners. This is the begining now lets keep the pressure on.

 

[Anonymous]

Somebody's waking up ? I know appraisers have been sending letters for a few years, on all the problems in the industry.

Cong. Barton should get to this site, and review the old library of comments on "lender pressure", etc. , from all over the US. It's not a small problem, nor just a bunch of complainers. State boards are also aware the problem exists. Where are they in Washington ?

Maybe Wayne can send Cong. Barton some old Posts.

I'll send him some of my own, also.

 

[Leon Stewart]

The Appraisers are beating a dead Horse. With the full appraisals being replaced by the AVM's and with Lenders being a large contributor to Political Campaigns, you are spinning your wheels. The appraisers can send emails, make telephone calls, and even stop by their offices, but the Politician will do nothing but give the subject a lot of lip service, unless you threaten them at the polls. You have to give them the option of keeping their job or not, and that way it won't matter how much the Lenders contribute to their campaign because it's "One Person One Vote".

Leon

 

[Ken in Arkansas]

Leon, I agree that change in the current economic climate is unlikely. It is so bad that not far from my location is a bank that will qualify you for a loan if you can do little more than walk and chew bubble gum at the same time; they will make you a loan on a tax assessement or even an insurance policy! I still remember quite clearly the S & L debacle of the 1980's (It paid very nicely, thank you!), and I believe that many in Washington will recall it also when they have to begin to bail out federally insured banks.