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Did you hear?

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Maveric33

Sophomore Member
Joined
Apr 18, 2007
Professional Status
Licensed Appraiser
State
California
The Home Valuation Code of Conduct or H.V.C.C.

This means your client can not use you!

III. The lender or any third-party specifically authorized by the lender (including, but not limited to, appraisal management companies and correspondent lenders) shall be responsible for selecting, retaining, and providing for payment of all compensation to the appraiser. The lender will not accept any appraisal report completed by an appraiser selected, retained, or compensated in any manner by any other third-party (including mortgage brokers and real estate agents). from the H.V.C.C.

Click to have your voice heard!

http://www.alamode.com/action/?ClickID=052308_HVCCSN_PA&ClickThruEmail=&ClickThruCustomerNumber=0
 

Midwest Guy

Senior Member
Joined
Dec 12, 2006
Professional Status
Certified Residential Appraiser
State
Missouri
Wow,

I do think appraisers have heard of this yet, it has only been just over three months.

The Home Valuation Code of Conduct or H.V.C.C.
[snip]
This means your client can not use you!
 

realbiz

Junior Member
Joined
Mar 14, 2008
Professional Status
Certified General Appraiser
State
California
Maveric, it may have been a while since you have been here, but there are plenty of postings about this on the site. Also, it is too late to comment on the changes. That time has come and gone.
 

Maveric33

Sophomore Member
Joined
Apr 18, 2007
Professional Status
Licensed Appraiser
State
California
It really should be the only posting on this site. It's not too late for revision of this document. It goes online 01-01-09. We still have to get congress involved. Have you met with your senator or congressman or are you hoping it all goes away?
 

Hank Outlaw

Member
Joined
Feb 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I called and e-mailed the elected officials for my part of NC... not too sure what effect if any it will have, but I got it off my chest. I wonder if anyone has been able to communicate with the politicians that sponsored this bill and gave them the appraiser's side of the issue. Would the role's be reversed (lenders vs. appraisers) if appraisers had the PAC money that the banks and lenders had? Why can't all of the appraisal clubs, groups, organizations, institutes, associations, etc. just re-organize for the sake of our profession vs. the sake of each entity of appraisers?

Hank
 
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