HVCC seems to be headed for the scrap heap!
I have been following the debates for some time now as to whether the HVCC will be recognized as an ineffective tool to keep appraisers from being infuenced in their duties.
I signed the petition put forth by Think Big Work Small which was hand delivered to Andrew Cuomo last week. They requested input to go back to the Attorney General with a solution as a relacement for HVCC or the like.
My opinion is simply to enforce the tools which already exist.
If an appraiser is influenced by someone to inflate the value and it can be demonstrated that that was the case, the lender(s) involved place the appraiser on their list of appraisers whose work is not acceptable.
The lender then can take further steps such as reporting it to the FBI.
Maybe I'm too simplistic in my view of ethics. If I do something which I know violates the ethics of my profession and then continue to do so, doesn't that become an advertisement of my willingness to look the other way? Wouldn't I in that situation rationalize that other people have done it too? It is appalling to me that we as a society have allowed the "end to justify the means".
I look forward to a time when practitioners and regulators do their jobs with honor again!
There is no shame in saying "It wouldn't be proper for me to do that!"