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HVCC / National Valuation Service Update?

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Lloyd Bonafide

Thread Starter
Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
Is there anything new on this, or is it a waiting game until something is announced about the HVCC?

The reason I ask is that I have MB clients who are being told by some lenders, (specifically Flagstar, and maybe others), that they must order some appraisals through an AMC, even though the HVCC is not in force.

If this continues, it would be nice to steer them to an appraiser-owned co-op, where we could collect a decent fee, and (hopefully), they could obtain a high quality report.
 

Jan Roseberry

Senior Member
Joined
Sep 25, 2002
Professional Status
Certified Residential Appraiser
State
Ohio
There is "Home Valuation Code of Conduct Webinar" scheduled for 9/4/08 at 1:00 pm; cost $99.

I find this more than fascinating.
 

panappr

Elite Member
Joined
Dec 5, 2007
Professional Status
Certified Residential Appraiser
State
California
The reason I ask is that I have MB clients who are being told by some lenders, (specifically Flagstar, and maybe others), that they must order some appraisals through an AMC, even though the HVCC is not in force.
I am experiencing the same thing. 2 Large Broker/Banker Clients have notified me that they are using several AMCs. Now I'm getting stranger LOs calling for value checks.... Drrrrr. Thank God for caller ID.
 

panappr

Elite Member
Joined
Dec 5, 2007
Professional Status
Certified Residential Appraiser
State
California
There is "Home Valuation Code of Conduct Webinar" scheduled for 9/4/08 at 1:00 pm; cost $99.

I find this more than fascinating.
Have not heard of this Webinar???
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
Fannie and freddie wont exist in thier current forms by Jan 09 ... who cares.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
PE

Are you dreaming this or did you read something related.


It is highly probable the federal government will step in and take over Freddie and Fannie by years end. Neither has sufficient capital to meet their next bond calls. Because of the large amount of foreign capital invested, foreign governments will not let the US Government allow these two institutions to fail. The next round of adjustment arms will be called in the next two years and an even deeper housing crisis will arise. Freddie and Fannie are now under extreme pressure to show their books as they actually exist ... and they are drowning in red ink.
The writing is on the wall ... in my opinion, Freddie and Fannie will be nationalized before the year is out.
 

VolcanoLvr

Senior Member
Joined
Oct 30, 2003
Professional Status
Certified Residential Appraiser
State
Washington
Why would anyone spend 99 buckaroos to listen to someone describe something that does not yet exist, and eventually may not?

Until the official entities make an official announcement officially, officially the HVCC does not yet exist in any official capacity.

So save your moolah. Anything spouted off at this time is only speculation.
 

NC Appraising

Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Here's one for free.

AppraiserCAST Episode 5
August, 2008
Home Valuation Code of Conduct Update, with Bill Garber, Director of Government and External Relations,
Appraisal Institute

Since the April 2008 comment period, what is happening with the pending Home Valuation Code of Conduct (HVCC)? Listen as Bill Garber, Director of Government and External Relations for the Appraisal Institute, provides an update on the Appraisal Institute’s take on the HVCC and recent legislative efforts surrounding this issue. Garber also discusses the landmark agreement that resulted in the creation of the HVCC and how appraisers can prepare for its implementation
http://www.appraisalinstitute.org/profession/podcast.aspx
 
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