First In Series - Ivpi Q&a #1

[San Diego]

Thanks for your guidance. Will look forward to Mike's clarification.

 

[Jonsey]

y

Mike Kennedy, please answer the following question yes or no followed by any explantion:
If the IVPI proposal is adopted as currently written, will all GSE appraisals have to be ordered through the IVPI?

This is a very simple question, so please give a simple and straight forward answer.

I certainly hope so - Just as all VA and FHA Appraisals must go through their appropriately designated funding entities.

 

[Mike Kennedy]

Thanks for your guidance. Will look forward to Mike's clarification.

San, pls see post # 80.

 

[Mike Kennedy]

you are confusing the IVPI proposal with HVCC which is already a part of the settlement agreement. Perhaps Mike Kennedy, who is on the IVPI Orgnaizatial Committee, would care to clear up this matter...

Mike Kennedy, please answer the following question yes or no followed by any explantion:
If the IVPI proposal is adopted as currently written, will all GSE appraisals have to be ordered through the IVPI?

This is a very simple question, so please give a simple and straight forward answer.

Asked and answered - see post 80...... you missed it?

 

[PropertyEconomics]

Asked and answered - see post 80.

The post (80) is a bit hard to follow Mike .. so is it yes or no? I think when someone asks a straight forward question asking YES or NO .. the answer should be in that form. Dont you?

 

[Mike Kennedy]

Yes, several other appraisers and myself are working very hard on another plan that would do this and which will actually have a realistic chance of being adopted. Once we have a working draft, which should be this week sometime, we will post it in this forum and ask for input, comments and support for the proposal before it is submitted to anybody.

I have not looked at the thread to which you are referring but will do so and let you know what I think.

Which day will it be posted? A union? A co-op? Just another AMC? A corporation? I'm sure no wants to miss it. Please advise - Fee Structure? Minimum qualifications? What approach will be used when "members"?? violate the USPAP?

Please answer the direct questions, thank you.

 

[San Diego]

So okay that means "yes" that ALL appraisal orders would have to go through the IVPI. So let's talk about this IVPI panel of appraisers......I do both VA and FHA appraisals. As you know the VA panel is on a rotation and the FHA is not. Would the IVPI panel be rotation or not?

 

[Workbox]

The post (80) is a bit hard to follow Mike .. so is it yes or no? I think when someone asks a straight forward question asking YES or NO .. the answer should be in that form. Dont you?

ARe you and Timd acting like babies?

Please Mark the BOX with an "X" on "YES" or "NO"...........

You guys are getting ridiculous.

 

[George Hatch]

The proposal says what it says:

1. Responsibility:
a. Develop a secure system for the ordering and delivery of appraisal services.
b. Develop a fair and impartial system of audit and review.
c. Develop a fair and impartial system of compliance procedures.
d. Develop a transparent compliance and reporting system.

Establish a centralized ordering system:
1. Utilize existing software to develop an ordering system, similar to VA’s TAS ordering system.
2. Appraisers will register their local market areas.
3. Rotational appraisal assignments are on based technical and geographical competency.

Centralized ordering and delivery system, rotational panel, individual qualifications.

How much more of a "yes" do you or anyone else need? This question was answered prior to it being asked.

The Q&A restates the obvious - appraisers and lenders have the choice to decide whether to work with the GSE under their terms or not. What they can't choose to do is to dictate terms to the GSEs for what appraisals they'll accept.

The GSE/Cuomo agreement has already gutted your MB-appraiser relationships on the GSE assignments. We had nothing to do with that. The sooner you come to terms with the GSE's decision - which is theirs to make - the sooner you'll be able to give serious consideration to your alternatives.

We've put our proposal out for all to see; and yes, it does include an IVPI-run rotational panel that the MBs will not be able to manipulate or avoid.

That's just one alternative for how this can go. Surely there are other alternative plans that are being developed. If you decide you prefer one of those alternatives then I would anticipate you'll go support it. But you're wasting valuable time if you think the GSEs will reverse their decision if (only) our proposal fails.

 

[San Diego]

Thanks! George! I do now remember reading that. Thanks for the reminder!