TAVMA responds/condems HVCC again?

[panappr]

http://tavma.blogspot.com/2008/06/key-regulatory-agencies-issued-joint.html

 

[Common Sense]

Why are they against the HVCC don't they stand to gain from it?

 

[Carnivore]

They dont want the regulation of them that will follow.

Right now they are the untouchables.

 

[panappr]

Why are they against the HVCC don't they stand to gain from it?

That's what I thought, but I believe they're concerned that AMCs will also need to be regulated.

 

[Mike Kennedy]

Why are they against the HVCC don't they stand to gain from it?

Every item below:

Home Valuation
Code of Conduct​

[FONT=Times New Roman,Times New Roman]

I. No employee, director, officer, or agent of the lender, or any other third party acting as joint venture partner, independent contractor, appraisal management company, or partner on behalf of the lender, shall influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery, or in any other manner including but not limited to:

1) withholding or threatening to withhold timely payment for an appraisal report;

2) withholding or threatening to withhold future business for an appraiser, or demoting or terminating or threatening to demote or terminate an appraiser​

[/FONT][FONT=Times New Roman,Times New Roman]1[/FONT][FONT=Times New Roman,Times New Roman];

3) expressly or impliedly promising future business, promotions, or increased compensation for an appraiser;

4) conditioning the ordering of an appraisal report or the payment of an appraisal fee or salary or bonus on the opinion, conclusion, or valuation to be reached, or on a preliminary estimate requested from an appraiser;

5) requesting that an appraiser provide an estimated, predetermined, or desired valuation in an appraisal report, or provide estimated values or comparable sales at any time prior to the appraiser’s completion of an appraisal report;

6) providing to an appraiser an anticipated, estimated, encouraged, or desired value for a subject property or a proposed or target amount to be loaned to the borrower, except that a copy of the sales contract for purchase transactions may be provided;

7) providing to an appraiser, appraisal management company, or any entity or person related to the appraiser or appraisal management company, stock or other financial or non-financial benefits;

8) allowing the removal of an appraiser from a list of qualified appraisers used by any entity, without prior written notice to such appraiser, which notice shall include written evidence of the appraiser’s illegal conduct, a violation of the Uniform Standards of Professional Appraisal Practice ​

[/FONT][FONT=Times New Roman,Times New Roman]1 [/FONT][FONT=Times New Roman,Times New Roman]An "Appraiser" must be licensed or certified by the state in which the property to be appraised is located.
[/FONT]

 

[timd354]

TAVMA likely has many objections, but since most members of TAVMA are both appraisal AMC's and title companies, their biggest objection is the HVCC prohibition against an AMC being involved in the title business (see HVCC Sec VI. (5)).

 

[Pamela Crowley (Florida)]

I'm betting that the Feds are now looking at TAVMA and RICO violations.

 

[Bigrock]

I'm betting that the Feds are now looking at TAVMA and RICO violations.

We can only DREAM

 

[Workbox]

We can only DREAM

Only if you knew. The patterns that are occurring or not occurring should give you a hint.

 

[Elliott]

Ever get the feeling there are a lot of associations who like appraiser's who
are in oversupply and hit numbers. Here are the associations in opposition
to HVCC:



American Bankers Association
American Financial Services Association
Appraisal Institute
American Land Title Association
American Society of Appraisers
American Society of Farm Managers and Rural Appraisers
Consumer Bankers Association
Consumer Bankers Association (Joint Trades)
Consumer Mortgage Coalition
Consumer Mortgage Coalition (Joint Trades)
Federal Reserve Board (Joint Regulators Letter)
Federal Trade Commission
Housing Policy Council, The Financial Services Roundtable
Independent Community Bankers Association
Independent Community Bankers Association (Joint Trades)
Mortgage Bankers Association
Mortgage Bankers Association (Joint Trades)
National Association of Home Builders
National Association of Independent Fee Appraisers
National Association of Realtors
National Credit Union Administration (Joint Regulators Letter)
Office of the Comptroller of the Currency (Joint Regulators Letter)
Office of Thrift Supervision
Office of Thrift Supervision (Joint Regulators Letter)
Real Estate Services Providers Council
The Appraisal Foundation Title Appraisal Vendor Management Association