AMCs and the HVCC - 06/24/10 02:59 PM

Many of us in the business have been affected by the Home Valuation Code of Conduct (or HVCC) in one way or another.  The primary way that we have lost business or had to endure some extreme complications is because of the use of Appraisal Management Companies (AMCs).  But what most people don't realize is that the use of an AMC is not required for a loan to be HVCC compliant. 
WHAT?!  Am I saying that the Mortgage or Real Estate deal you lost because of an AMC did not need to die?  ABSOLUTELY! 
We have been hoodwinked and bamboozled into thinking that … (0 comments)

Reverse Mortgages - The Next Subprime, or Baby Boomers' Savior? - 06/07/10 08:55 AM
Some will say that the Reverse Mortgages are the next subprime catastrophe, but I would disagree.  The Subprime market was fueled by fraud and speculation.  The Reverse Mortgage is a tool that is used to help people in their retirement years regardless of income and financial status, and does not require a monthly payment.  So without the backlash of rampant foreclosures, the way we are seeing it with the subprime loans, why are people comparing these mortgages that don't require a payment to that of the toxic subprime?
Its mainly because FHA insures these loans, and values have dropped further than … (0 comments)

 
Business_for_email_and_internet_may_18th_2011_2_ Rainmaker_large

Phil Stevenson Reverse Mortgage Expert in Miami and Florida

Miami, FL

More about me…

Address: Miami, FL, 33175

Office Phone: (855) 258-3408

Cell Phone: (786) 586-3336

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find FL real estate agents and Miami real estate on ActiveRain.