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fhfa: Where is the IVPI? - 09/10/09 09:49 PM
An appraiser friend over in Houston called today, upset that he is being "dismissed" from Streetlinks appraiser list due to "geographic incompetence". (Of course my first comment was to congratulate him from not having to do any more of their crappy 1/2 price AMC work, which is not what he wanted to hear.)The short story is that the appraisal came in $3,500 under the sales price of the home, which mysteriously sold for about $5k over list (hidden closing costs, of course). The realtor called and chewed him out for using comps in the "bad" section of the neighborhood while the … (9 comments)
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fhfa: An open letter to Andrew Cuomo - 05/06/09 12:46 AM
Dear Andrew,
Now that we are a week into May, I wanted to personally thank you for your efforts in regard to creating the Home Valuation Code of Conduct (affectionately known as the HVCC, or "Half-assed Values at the Cheapest Cost" to those of us in the appraisal industry).
But seriously, I applaud your efforts in allowing Fannie and Freddie to get out testifying in the Washington Mutual/eAppraiserIt lawsuit. I mean, what would that have accomplished anyway? Actually proving that the lenders who were pumping our financial system full of suspect loans were well aware of what they were doing? If you had actually prosecuted that … (6 comments)
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fhfa: 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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Mike Lay
Austin,
TX
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Appraisal House Texas
Office Phone: (800) 497-2660
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