Fannie Mae / Cummo 1-1-2009 ? is this still happening?

[Dave1027]

Does anybody know if that Cummo "appraiser independence" act thing is still going to happen ? 1-1-2009 ? where the Mortage brokers and banks can't use or pick an appraiser?

or did they stop that??? or tailor it ?? any updates on this?

really seems like if they do that everybody will deffinitley go out of business except the AMC's ? because who can afford to work for them? they only want to pay like $200 bucks tops ... what a rip and twice the work!! at least for REO's.

who voted for this????


well if anybody has any updated info that would be great.

Thanks,

-Dave

 

[Diego Lopez]

No new news on the HVCC as of yet.

 

[hovious]

With all of the new proposed bills/legislation being thrown around on Capital Hill this appraiser thinks the HVCC is not going anywhere. I've said it before and I will say it again... anything that is proposed on a federal level will trump the HVCC. If the HVCC does come into play it will be a completely different proposal than how it was originally written.

 

[Cookie]

HUMMMMM - will there BE a Fannie Mae on 1-1-2009???????

 

[Workbox]

HUMMMMM - will there BE a Fannie Mae on 1-1-2009???????

Maybe Saudi Mae, Asia Mae, or Loan Shark Mae.

 

[Wolfe54]

From your lips to God's ears. I cannot stomach the thought of pandering to the AMC's.

 

[jay trotta]

after the "puffing" by the AG - FNMA's generous response and all the intense nagging by the appraisal crowd, one of the congressmen put it bed and shot it in the head. It had something to do with various folk in the Lending binezz......$$$$$$$$$$$$$$$$$$$$$

 

[rescom]

Personally, I can't wait until 2009. No more value pressure, comp checks, payment issues, marketing, etc. I quit doing broker/LO residential work 4 years ago because it wasn't worth dealing with all of this crap. I'll gladly work for AMC's to avoid that BS. I've never, and I mean never, had a problem with an AMC regarding any values, comp checks, payment issues, and I don't have to market my services. Sure the fees might be lower than non-AMC work but look at what they are providing you.

For all of you that constantly whine and complain about comp checks, value pressure, payment issues, marketing, etc., what exactly are you wanting to happen if you don't like the HVCC? You're mad because the AMC's will get all of the work? Thats not the AMCs fault. Why isn't anybody upset with the lenders that are voluntarily using the AMCs? The HVCC doesn't require the lenders to use AMCs. They can call appraisers directly, right? So market your services to the lenders then.

This industry will never be perfect. The HVCC is a step in the right direction. Changes can always be made to it if it isn't working, but I think that it will be interesting to see what happens if its implemented as written.

Have at it.

 

[jgordond]

For your viewing pleasure! Click link below. The HVCC will be significantly altered. We now have the eyes and ears of decision makers. Don't be afraid to make your voice heard. Call your Congressman/woman and/or Senator!

http://www.appraisalpress.com/news/...608&ClickThruEmail=&ClickThruCustomerNumber=0

 

[rescom]

For your viewing pleasure! Click link below. The HVCC will be significantly altered. We now have the eyes and ears of decision makers. Don't be afraid to make your voice heard. Call your Congressman/woman and/or Senator!

http://www.appraisalpress.com/news/...608&ClickThruEmail=&ClickThruCustomerNumber=0

I didn't hear Bernanke say that the HVCC will be significantly altered. I heard Bernanke say that they would look into it, but he never said that it definately would be significantly altered or altered at all.