Senate discussion of 2452 today.

[timd354]

....not to wear this thread out, but OUR bill hits the Senate floor at 10:00 Eastern time per Senator Reid's mouth a few minutes ago.....with or without bonding, a major appraisal event............best to all even after tomorrow's results are known.....rs

Would that be 10 pm tonight or 10 am tommorrow morning?

 

[rcsone]

....the next time I buy a new vehicle, I think I am going to, in the pre-purchase decision, require the manufacturer to provide at their cost insurance based upon my prior driving habits and tickets. Afterall, it is to their benefit if I drive the transporter advertising their name and they make a sale......bonding and its costs to SOME above the costs to the responsible others will become prohibitively priced.......you could have a license and no bond-----but could not work for most lenders, but you can renew the license and continue your education and appraisal practice?.....best method I have heard of to rid the "profession" of the educationally or morally incompetent...........there will little enforcement from state agencies due to their fundings.......there might be from bonding, immediate proven responsibility criteria which will affect license numbers dramatically..........my business experience in several areas says if anyone can do it will little to no investment in money, education, experience or supervision, there is no long term profit to be expected.....which is a big HELLO to the current appraisal practice....rs

 

[rcsone]

....Eastern time AM........rs

 

[James R]

I'm all for this bill even though I can't afford to pay the bond.

One thing to consider that I don't think anyone has mentioned. This will REALLY hurt those cut rate appraisers who did a ton of volume and made little profit from it. Something I would think would be cause for a party around here....

 

[timd354]

I'm all for this bill even though I can't afford to pay the bond.

One thing to consider that I don't think anyone has mentioned. This will REALLY hurt those cut rate appraisers who did a ton of volume and made little profit from it. Something I would think would be cause for a party around here....

If you can't afford the bond, then you will be out of business, so how can you support such a provision?

 

[Karl]

Title: RE: Please pass this along
Author: Mr. Scott A. Austin 06/23/2008
I just got off the phone with Senator Dole's office. The DOLE AMENDMENT is not dead.

At this point calls/emails to ALL Senators (not just the banking sub-committee)are needed TODAY in support of the DOLE AMENDMENT (number 4984) to the Federal Housing Finance Regulatory Reform Act of 2008 (H.R. 3221) on Tuesday, June 24.

There is a cloture vote (a proceedure to end debate and start a final vote) tomorrow (6/24/2008).

Use this link to find your Senator and contact them immediately.
http://www.senate.gov/general/contact_information/senators_cfm.cfm

Thanks,

Scott A Austin


Send E-Mails tonight!!

 

[James R]

I'd be out of business now if I weren't so stubborn and hadn't put in so much time and effort into becoming an appraiser. I've lost about 40k over the last year and a half since going into business for myself and I live more modestly than most I'd wager. By my calculations I will have to pay around 8k for the bond. I'll borrow the money or cash in some investments and be happy about. At least I will be able to compete. I'm stuck in the middle now between not having enough skins on the wall to get the good clients and not being enough of a scumbag to get and/or keep the rest of what is out there.

 

[Couch Potato]

S.2452 is not up for a vote.

....not to wear this thread out, but OUR bill hits the Senate floor at 10:00 Eastern time per Senator Reid's mouth a few minutes ago.....with or without bonding, a major appraisal event............best to all even after tomorrow's results are known.....rs

Well I finally had some time to check on the progress of the Senate. I thought it was odd that GovTrack had not alerted me to the activity on S.2452. After poking around this afternoon I find S.2452 is not even being discussed, rather they have been discussing H.R.3221 (aka American Housing Rescue and Foreclosure Prevention Act of 2008), which is a bill reconciling differences in earlier legislation that passed both the House and Senate.

Pete, the bonding provision is indeed still in S.2452, but that is irrelevant to the bill actually making progress in the Senate at this time, H.R.3221, so I apologize for not helping get the message across if that is the point you were trying to make.

 

[rcsone]

....Title IV is still in S2452 and printable.......I predict and NOT argue it will pass as written in the Senate tomorrow before noon(now cut me a time slack of a little...) and then, it will be included in the reconcilation process in the House and sent to the President by this Friday.....if right, so what......I have caught a few raindrops in my hands; if not, maybe those weren't raindrops.......the results of the vote tomorrow is already known and they will let us know when they wish.....freedom in America......the negative press is just to "straighten out" the others not detailed yet, as owning a return of favors for and to the lenders......this program might have been decided when it was decided to do the "funky monkey mortgage money" at the advent of "subprime" years ago.........collect the fees and lates and appraisal cuts and settlement charges and excessive rate yields, then ship it to investors......the easiest way to bait and screw the greedy is to get them involved with a "good deal" and their acquisition slobbers will blind their eyesights to the obvious.......rs

 

[Elliott]

I was sick the day they taught how to follow a bill in congress (though I do
remember something from a jazzed up cartoon 'something' rock on how a
bill became a law.

Here's what I think is our big 'get' in the HR3221....

• `(D) in the case of an insured mortgage under title II for a 1- to 4-family residence, compensating, instructing, inducing, coercing, or intimidating any person who conducts an appraisal of the property in connection with such mortgage, or attempting to compensate, instruct, induce, coerce, or intimidate such a person, for the purpose of causing the appraised value assigned to the property under the appraisal to be based on any other factor other than the independent judgment of such person exercised in accordance with applicable professional standards.'.

Here is Mr. Dodd's last words, he doesn't say its dead.....

• ORDERS FOR FRIDAY, JUNE 20, 2008 -- (Senate - June 19, 2008)
  
  [Page: S5917] GPO's PDF---
  
  Mr. DODD. Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand in recess until 9:30 a.m. tomorrow, Friday, June 20; that following the prayer [Page: S5918] GPO's PDFand pledge, the Journal of proceedings be approved to date and the Senate resume consideration of the House message to accompany H.R. 3221 , the housing legislation. The PRESIDING OFFICER. Without objection, it is so ordered.