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Petition to change the HVCC Code of Conduct

As my faithful blog followers know, I am adamantly opposed to the HVCC Code of Conduct and I think it should be withdrawn. The petition to change the HVCC is now up to 16,000 signatures. You can view the petition here.

I have heard some terrible stories about how this code is hurting the Real Estate market. I personally know one loan officer who is writing every loan FHA in order to be able to still order their own appraisals. That loan officer admitted to me in confidence that he/she (I'm not saying) should have done a conventional loan for this borrower but he/she (still not saying) didn't want to risk ordering the appraisal from an AMC so it was written FHA even though it would have been a little better payment for the borrower to get a conventional loan!

I also know another loan officer who hasn't been able to get a house appriased bacuase of the HVCC. Here's what happened to him (I'm saying). He ordered the appraisal from the AMC. The AMC advised him the appraisal had 48 hours to log on and accept the asignment. Well guess what - the appriser refused the assignment and it got kicked back into the que. Now the next 7 appraisers (no joke) did the same thing and he is still waiting to get someone who will accept the assignment - 3 weeks later!

If you have a story to share about how the HVCC has affected your business - please post a comment and tell me all about it.

:)
Matt

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Posted by Matt Listro Your Credit Repair Expert on 06/01/2009 10:50 PM

Comments (9)

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9 Comments on Petition to change the HVCC Code of Conduct

JUN

I AM SO THERE! Thanks for posting this!

Hi Renee: My pleasure!

I am in the middle of my first appraisal nightmare. And I'm so completely ill over it. I demanded a "review", I put in the contract that they had to use an appraiser with 3 years experience on Lake Sinclair with a minimum of 25 appraisals in said area and that upon request appraiser would show said proof in writing. I asked and the in writing proof was refused. I've signed the petition and have emailed it to every agent in my area. It's nuts. HVCC is NOT helping consumers.

And Matt, you might should consider letting others reblog this post. The more folks that see it the more that can sign the petition.

USDA is the hot ticket in my area right now. I just had an offer accepted where this will come into play. It will be my first experience. I'm already dreading it and we just signed the contract yesterday.

AGGGGHHHHH!!!!

I haven't had issues yet, but I'm expecting it will be and know it's taking llonger to get them.

JUN

Hi Tammy: Thanks for the comment and it is now re-blog able!

Hi Todd: Please come back and give us an update as the transaction unfolds.

Hi Christina: Thanks for stopping!

JUN

I know one person out here who could not get an appraiser to take a job because the property was unique in a ranching/farming neighborhood where nothing has sold for 30 years. Finally she found an appraiser but it took half a month.

Hi Jim: Stories like this are starting to pile up!

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