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TAVMA responds/condems HVCC again?

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Rhino

Junior Member
Joined
Jul 10, 2005
Professional Status
Certified Residential Appraiser
State
Maryland
Why are they against the HVCC don't they stand to gain from it?
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
They dont want the regulation of them that will follow.

Right now they are the untouchables.
 

panappr

Elite Member
Joined
Dec 5, 2007
Professional Status
Certified Residential Appraiser
State
California
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

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
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

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
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)).
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
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