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fannie mae: Update on the HVCC for brokers and appraisers - 12/29/08 11:18 AM
To all appraisers and mortgage professionals:
I have posted a letter on my website that I have provided to all of my clients that outlines the HVCC, including what it is, what it does, who it affects, and what they can do about it. I think it provides a reasonable summary that would be beneficial for appraisers to provide to their clients, and is just good information for mortgage brokers and lenders who aren't completely up to date on the situation.
Anyone is welcome to copy it for your own use, as long as you understand that while I believe that the content … (3 comments)
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fannie mae: Update on the HVCC and the AMC's push for business - 11/21/08 11:25 AM
I'm annoyed today. I received two conflicting pieces of information on what has been going on with the HVCC. The first came from an appraiser friend in Maryland, who received an email from their state board representative who was at a national meeting of the appraisal foundation. That email said:
"I know you are all concerned about the HVCC that resulted from the FannieMae/FreddieMac agreement with the State of New York.
From what I could learn at The Appraisal Foundation's Board of Trustees meeting, it is highly unlikely that the HVCC will go into effect on January 1 of next … (19 comments)
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fannie mae: Fannie Mae, are you sure you are out there? - 10/05/08 11:21 PM
I recently had a question come up regarding an appraisal assignment that I was unsure about, and in trying to find the correct answer I got some insight into why Fannie Mae has some of the problems it does.
I got a request from a client to appraise a house on 5 acres of land. However, the actual legal parcel is about 35 acres. Now, I do these on a somewhat regular basis, and I simply make them "subject to" receiving a copy of the new survey showing the 5 acres they have subdivided, and also note in the report that the … (3 comments)
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Mike Lay
Austin,
TX
More about me…
Appraisal House Texas
Office Phone: (800) 497-2660
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