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HUD Reforms For Home Loan Closings

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Farm Gal

Elite Member
Jan 14, 2002
Professional Status
Licensed Appraiser
Martinez would permit lenders to accept volume discounts from service providers such as appraisers and title companies.

Yeah and throw the baby out with the bath water JUST LIKE they did when they gutted the local offices and local oversight! 'New 4150.2' in and of itself has not enough across the board guidelines or specificity to local area conditions to be effective, IMNSHO!!!

So what we have now this touted is ability to accept volume discounts from appraisers... via AMC's which results in chopped fees so that normal competent appriasers refuse to do the work.. :roll:

UNLESS HUD elects to fund a proper review and oversight process, the only folks doing FHA appraisals are going to be the VERY blind and/or wet behind the ears folks who don't properly look at a house or require any repairs no matter what they see :evil: ...

I am NOT part of the good old boys club, I hadn't gotten on the panel unti just before they opened it up to near everyone, but I DO try to do my job properly like Patty is finding (another thread) it is near impossible for us to do our job properly, when there are those who do NOT do theirs. :!:
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