Fight the new Appraisal Laws that hurt our customers and our industry!

Real Estate Agent with RE/MAX equity group, inc.

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 and help fight this one.

Warm regards,

Karen Stanley




Comments (4)

Harry F. D'Elia III
Avant Garde Residential Management Services - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Fight the good fight. Change is hear and we have to change it or it will change us.

Jun 11, 2009 11:15 PM
Terri Onigkeit
Keller Williams of Northern Colorado - Fort Collins, CO

I did cast a vote on this one, thanks for the information

Jun 11, 2009 11:56 PM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Definitely appreciatethe link. This new requirement is more trouble than it's trying to cure.

Jun 12, 2009 01:06 AM
Karen Stanley
RE/MAX equity group, inc. - Camas, WA
DMD, MBA, CRIS, TRC, ePRO, Residential & Investment Properties

Seems all the comments are in agreement that this is an important thing and it's a bad direction to be headed.  Are there any folks out there with conflicting views?  If so please express your opinion as well---- and if you feel this is a "bad thing" then please go cast your vote and send your comments in!

Jun 12, 2009 06:30 AM