And we need your input and vote!
Here are some excerpts from one of my lenders that will point you in a quick direction to make a difference.
The new HVCC law that now requires appraisals to be ordered through third party vendors and these third party vendors are allowed to skim as much as they desire from the appraisal and some are as much as 50%-70%! This new law is making the appraisal companies guarantee value for a period of time- which should be impossible but if they come in with a low enough value they are covering their butt.
Also the law now requires 3 days of waiting prior to ordering docs- not like we needed to add another 3 days to a transaction. This is one of those laws that was implemented as a knee jerk reaction to a problem.
Many of you, like myself, have already seen lousy service, unnecesary delays in getting appraisals, and are aware that these companies contribute nothing -- nothing except problems - to our industry while they often take half of the fee from our appraisers. We need this like a hole in the head and it's all just because there were a few bad applies that they are penalizing and screwing up the whole industry. So please take a quick moment to go jot your brief opinion on this form that will quickly and easily submit it for you!
Go to http://www.hvccpetition.com/ and help fight this one.
Warm regards,
Karen Stanley
Comments (4)Subscribe to CommentsComment