I would LOVE to know what you do for a living or how you claim to know what massive fraud is being used by EVERYONE in the business on both the appraisal and loan officer industry. Why don’t you try and back up your claims with some facts!! I have a dozen stories of appraisers from out of the area where the house is and rushing thru becuase they are getting paid about half of what they used to for more work. Who do you think likes that? The bottom line is there is no accountability to do a good job because they will still have the same amount of work. I have homes that are tax assesed at 1.3 million coming in at 995k. The client told me the guy was rude and basically said he didn’t want to listen to them on the upgrades to the house. I looked up a house that went one street over two weeks ago that sold for 950k and was 23% smaller. Now if you know ANYTHING about what I do you would know those numbers are way off base. The smaller house has a tax value of 1.1 and sold for 950k. Again the spread on the numbers is wrong, anyone in the industry can see that. This will hurt everyone in the process, banks, loan officers, appraisers and most importantly the American consumer. When we have come out of a recession the housing market leads the way. It won’t happen this time if this stupid law doesn’t get junked and I mean junked now.

I can’t even see the appraisal to see if he did a good job. You think that is the right way to conduct business? I can talk to EVERYONE in the loan process but not the appraiser. Makes no sense.

There are many way to combat appraisal/loan officer fraud and it starts with the banks. You could also fine the appraisers and loan officers who are determined to do the wrong thing. Why do we have underwriters if they can’t look at an appraisal and say it’s not any good? It starts there, don’t blame the guys at the bottom of the food chain. Your attack was pathetic and just trotted out the same old crap that I will not listen to anymore. Get serious and get a clue. I can’t wait to you have to buy or sell a home. Why do you think that NO ONE likes the system? If it was so good appraisers would love it. Check out this blog last year when I first raised the warning flag. Appraisers were in love with it and did nothing but attack and threaten me. Once they wised up when they understood. There may still be time for someone like you but I’m not holding my breath.

These loan officers and appraisers want to go back to the “old days” when loan officers could direct appraisals to their golfing buddy appraiser to get the value they need.

Nobody, with an IQ above 80, doesn’t realize that when appraiser and loan officer are friends, and when loan officers need high appraised values to make deals work, that values won’t be stretched.

Now that a loan officer can’t direct an appraisal – they are furious. The NONSENSE that is being put forth here is pure garbage.

What Americans are now getting are ACCURATE appraisals. The INFLATED values that contributed to one of the most destructive asset bubbles in human history are a thing of the past.

Don’t believe the hype people. The posters here are only concerned with one thing – THEIR OWN PAYCHECKS. They don’t give a damn about the constant, unending, overvalution of your homes. They want your deal to close so they can earn a commission – period – end of story.

Don’t be snowed America. This fraud has come to an end because of HVCC. Don’t let the lies bring it back.

Thirdly, none of the remodeled comps had all new electrical wiring with a 200 amp service, all new copper plumbing, a swimming pool with or without solar heat, supplemental solar electrical power, an insulation package that includes perimeter wall insulation, roof insulation with a radiant barrier, and double pane windows throughout.

In addition, renewable and recycled materials were used for all of the cabinetry, counters, and floor coverings. No products were used that included solvents, created off gassing, or contained environmental contaminants — creating a safe, toxic free home.

And finally, a high efficiency condenser boiler with comparable radiators, energy star appliances, water saving fixtures, and a drip irrigation system round out the improvements that set this real estate apart from ALL the properties that have been sold and are currently for sale.

TALKING POINTS:
1. NAMB conservatively estimates (breakdown below) that the HVCC is costing consumers over 2.8 BILLION dollars a year in extra fees, created by long delays (extended lock-in fees) and higher appraisal costs.
2. Unregulated Appraisal Management Companies (AMCs), who have been the subject of several misconduct investigations, are the centerpiece of the HVCC. The original Cuomo investigation involved a federally chartered bank and an AMC.
3. AMCs are driving honest appraisers and mortgage brokers from business, eliminating competition, increasing costs to consumers and reducing state revenue. The HVCC is causing significant delays in real estate transactions, hurting real estate agents, title companies and other third parties reliant on turnaround time.
4. HVCC does nothing to reduce fraud, as it legitimizes the same failed model, which was the subject of Attorney General Cuomo’s investigation.
5. No Portability! Consumers are “trapped” with a specific lender. If a better deal becomes available with a different lender, the consumer is forced to pay for another appraisal.