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HVCC Final Document Time Line

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Anthem

Senior Member
Joined
Mar 10, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Well the original timeline suggested that the final document would be released May-June.

June is flying by and still no official statements; This article suggests that they won't even be working on the Final Document until Mid July
http://www.americanbanker.com/article.html?id=20080610TJ5ERT6W


Anyone have further information on the current status of the HVCC?

___________________________________________

On as side note every time I see "Couomo Investigated" I about throw up, they need to be investigating him and his pocket padders.
 

dobie

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
New Jersey
Well the original timeline suggested that the final document would be released May-June.

June is flying by and still no official statements; This article suggests that they won't even be working on the Final Document until Mid July
http://www.americanbanker.com/article.html?id=20080610TJ5ERT6W


Anyone have further information on the current status of the HVCC?

___________________________________________

On as side note every time I see "Couomo Investigated" I about throw up, they need to be investigating him and his pocket padders.

I predict this won't go anywhere or be in a form that bears no resemblance to the original document.

And yes Cuomo, first and foremost, is a grandstanding politician like Elliot Spitzer before him. I think he overstepped his authority.
 

hovious

Sophomore Member
Joined
Mar 14, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
I agree Dobie...

I had created a topic, maybe a month ago (?) as to whether this HVCC will even see the light of day. Some of it will but I firmly believe that it will be TOTALLY different than what was originally proposed. This "agreement" has been met with SO much heat that I do not think the creators of this agreement thought this through enough.

I would not be surprised if the proposed bills in Congress dwarf the HVCC outright. Who knows...the HVCC may be tossed out completely.
 

athome77

Member
Joined
Apr 1, 2008
Professional Status
Certified Residential Appraiser
State
Illinois
Not to be all conspiratorial, but I had a conversation with an certain attorney general over the weekend (not from Illinois) and there is no chance HVCC will see the light of day. Too many BIG groups with big lobbies (NAMB, NAR...) are lined up waiting to fight this. NY will not be able to impose its will on GSEs.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Still looking for information on WHO helped write the HVCC.

Pamela,

IMNSHO I believe it will be early fall before we have a definitive yes or no on the subject. My guess is that the whole thing will be thrown out by the Federal Regulators, you know the ones, the FFIEC. They, and their Appraisal Sub-Committee (ASC) will not want anyone having more power than they do. But, it may force the FFIEC to at least attempt to clean up it's act. Personally, I would like to see Dtate or Federal Regulations that would require all lenders, mortgage brokers, and anyone else involved in mortgage origination, processing and closing to be either state or federally licensed.
 

SANDY

Senior Member
Joined
May 17, 2007
Professional Status
Appraiser Trainee
State
Florida
But but but Otis said it was a done deal!
 

jeanwillick

Junior Member
Joined
Jun 2, 2003
Professional Status
Licensed Appraiser
State
Michigan
I agree with Pam. When I first read the HVCC, I wondered who wrote it. It sends all work thru an AMC. Makes it pretty suspect to me what the motives were behind it. It is an admirable idea, but I think it masquerades the true design of what it is actually doing.

Am I getting so old, I'm just getting cynical?
 
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