SCRAP HVCC! Now would be Good!

Okay here's a challenge to those who brought us HVCC.

Show us a benefit. What improved?

Answer

NOTHING

First and without challenge;

HVCC increased the cost of appraisals to the consumer.

This is just a fact. It cannot be argued. The cost of appraisals on the average run about $75-100 above what was charged previous to HVCC. AMC's, aka Appraisal Management Companies, are not cost effective. This system just takes additional $$$ out of the consumers pockets.

The quality has not improved

Personally I believe it has worsened. The AMC's are more interested in what the appraiser charges than in the quality of their product. How many times have I heard from appraisers that they've been told to decrease their prices or they will not receive any further orders.

Please, please don't tell me that lenders own AMC's!

That should isolate them, right? I don't care if it's directly and/or indirectly. There is no way that a lender should be allowed to own an AMC.

If they're so effective why is FHA HVCC EXEMPT?

FHA has rules against or attempting to regulate "appraiser interference," and an AMC is allowed, but not required by the FHA.

Despite what may have been good intentions, HVCC is a failure.

Scrap HVCC

when?

Now would be good!