Regulators Issue Joint Letter Condemning HVCC

And I have been screaming at the top of my lungs on the on-line appraiser forums since the early 90's (and long before that at (appraisal org) meetings that until and unless control of the ordering of the assignment is taken out of the hands of those mortgage brokers and commissioned loan officers who have a vested interest in the outcome of the appraisal, the system will remain flawed, the ethical among us will starve and the whores will flourish.

If the regulators succeed in quashing HVCC and restoring the status quo with more lame regs that will dole out slaps on the wrists of serial offenders, they will have done a great disservice.

Just look at what a great job the exalted regulators have done to date.

Maybe if they had regulated the mortgage brokers and commissioned loan officers in the first place, with real consequences to the offenders, much of the current financial meltdown would have been averted.

I for one will be very sorry to see the HVCC/IVPI abandoned.

Thanks Tommy,

I share your sentiments and hope you enjoy your holiday!

Ken

Michael,

Over the years, excessive pressure (to push values and/or tone down or eliminate comments about detrimental conditions) from mortgage brokers, commissioned loan officers and real estate agents has cost me almost all of my lender (origination mortgage) related business.  I have spent years building up a diversified non-lender business and even that has fallen off considerably as other appraisers in my market diversify.

HVCC - Appraisal agreement to be delayed on to three months

http://www.cnbc.com/id/26892323/for/cnbc/