Missouri Appraiser's & the HVCC. READ THIS!

[nachocheesefries]

Can someone help set me straight? I have read several threads claiming the new HVCC legislation is dead.....however, I keep getting emails from Dave Biggers (of alamode) claiming this bill is set to go before congress and will take effect on January 1st of 2009 (less than 90 days away).

Am I freaking out for no reason for thinking that all of my clients that I have worked so hard to keep over the last few years are going to be forced by rule of law to send all their work to AMC's? I am a small operation (myself and one other appraiser), I have no idea how I am going to make it if the few solid local bank clients I have, are forced to use an AMC.

I spoke with a couple LO's at two of the larger banks in town that I have good relationships with, and they were completely unaware of the upcoming changes.

I called Roy Blunts office (our local congressman) to voice my concern about HVCC and the receptionist said that the bill had already passed the house and was in committee waiting for approval before it is brought to the floor of the Senate for a final vote.

I also called 202-224-7391 which is the committee phone number and they said they would take my name and number and have one of Chris Dodd's assistants get back with me(I am not holding out hope).

Am I over reacting? If not....why is no one else in panic mode?

Sean

 

[Mike Kennedy]

http://appraisersforum.com/showthread.php?t=145534


http://appraisersforum.com/showthread.php?t=145343&highlight=hvcc


http://appraisersforum.com/showthread.php?t=145030&highlight=hvcc



The HVCC is NOT a Bill. It is part of an agreement between the NYState Attorney General and FANNIE agreed to by them AND the ........then OFHEO Director James Lockhardt.

SUGGEST using the SEARCH BAR above this thread, typing in HVCC, and scan the ..........MANY threads on the HVCC.....starting in MARCH 2008.

Per the link above............the FINAL, REVISED, HVCC is due out in Feb/March per Mr. Lockhard PROMOTED to >>>

http://en.wikipedia.org/wiki/Federal_Housing_Finance_Agency

 

[nachocheesefries]

Thanks for the info.

 

[Tony V]

Don't take this wrong Sean, but it is unbelievable how many folks who are directly affected by this get that ""What the??"" look in their eyes (or in their voice) when this subject is brought up.

 

[appraiz]

Does this mean the terms of the agreement will be released in February or March or the implementation will begin then and the terms will be released soon.

I have also spoke with many bankers recently and they think the HVCC is some bogus basketball league St. Louis University plays in.

 

[Summer]

Call Dodd's office again. Ask for Mr Mann. He is handling this ....and will respond.

 

[London]

I have searched, and searched, and have come up with no new information as far as the HVCC. At the board meeting today, a lender stated as of the first of the year they will no longer have the ability to choose their appraiser's. I must be missing something! I'm waiting for a call back on where that lender got that information from.
I find this whole situation frustrating, and nothing more than money in someone else pockets!