Appraisal Articles

Welcome to the ongoing HVCC nightmare that continues until next Christmas… From what has been said, HVCC is here to stay, or until someone in Congress pulls a rabbit out of their hat, we are stuck with it until the Sunset Clause, 18 months from 05/01/2009. So maybe next year we will have a chance for a Merry Christmas...

Can You Believe It?

I keep thinking that someone will see the damage that HVCC has done and is doing, but no one outside the lending community seems to care. As appraisers with a large customer base, at Creekside, we have made it... barely. But I know many other appraisers who have had to leave the business, because all of their business is just gone…

It has been a rude awakening for many of us self–proclaimed “independent fee appraisers”, the few of us that are left. More and more it has been necessary to sign on with various AMC groups just to have any of the FNMA business back. Not that it is much worth doing, since the fees are structured so that the AMCs take the lion’s share of the money for doing next to nothing and having “0” liability.

But seven months into HVCC and I am anxiously looking forward to next Christmas and the potential end to this mess. I think the concept of HVCC has merit but the application in the Banking world has been fraught with lack of education, lots of misunderstanding, and all around general misinformation.

We can only hope that the cost of our “freedom from coercion” does not end our freedom to run a successful independent appraisal shop.

So until then I wish you and yours a very Merry Christmas and a Happy New Year. Hang in there…

And hurry up Sunset Clause...

Comments? Email me.