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HR 3044 18 Month Moratorium On HVCC WILL NOT Cure The "Low Appraisal" Disease Issue
http://www.realestateappraisertips.info/ - HR 3044 18 Month Moratorium On HVCC WILL NOT Cure The "Low Appraisal" Disease Issue

I'm reading this morning from the Mortgage New Daily Email about "HR 3044: To Impose 18-month Moratorium on HVCC".  The reasons given for the moratorium are these below as directly quoted:
"In the period of time since its implementation, the HVCC has increased costs to consumers and decreased the quality of appraisals and has provided a level of uncertainty in an ailing housing market. Tens of thousands of consumers have already been robbed of their opportunity to enjoy historically low rates by Attorney General Andrew Cuomo's rule."
However, according to the media generated buzz, the outcry in the past 3 weeks hasn't been so much been about HVCC but the media issue of "Low Appraisals".  Just look at these recent headlines:
Bloomberg: Home-Price Recovery May Be Undermined by Appraisals
Christian Science Monitor: Are low appraisals slowing US home sales?
CNN Money: Appraisers wrecking builder sales?
The Tennessean: Low appraisals nip real estate deals
Steamboat Pilot, CO: Appraisal rules wreck real estate deals
and my favorite of all:
Joe Weisenthal: The NAR's Appalling Fight Against Honest Appraisals Yes, it's true that if the Appraisal Management Companies (AMC) are sending appraisers ... more

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