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Adam: (January 21, 2010 9:15am)

So now I have clients working on their credit scores wanting to know why I told them they need 620 or better when FHA says they don't even need 580 if they have 10% down. Way to go, FHA!

Speedy: (January 17, 2010 1:45pm)

A union is the same thing as socialism or government control, in my opinion. I would not mine a couple of union thugs talking to Cumo and thing his mind on our behalf, but to join a unoin is against everything I stand for. I am a pure capitalist, and unions are a bad thing for everybody. California is going broke because union as well as the nation. I heard talk of appraiser unionizing about 20 years ago during the S&L debacle, and it never happen. Put there has to be a way to get appraisal together and talking. Right now is the time, and it is very important too. Maybe a social networks; such as, facebook or something similar. Where the Appraisal Institute on this matter; they are probobally for HVCC. If cheap labor from south of the border can complete a more accuate appraisal then I can, then they deserve the job.

Stan the Man: (January 15, 2010 12:30pm)

I have never been a union man, but in this case I can see the need for one. The best way to beat HVCC is to be united. That seem like something we can't do on are own.

Stan the Man: (January 15, 2010 12:30pm)

I have never been a union man, but in this case I can see the need for one. The best way to beat HVCC is to be united. That seem like something we can't do on are own.

Jason Klaskin: (January 15, 2010 9:49am)

Hey John. It was great meeting you as well. Thanks for the words. Sometimes you just don't know why you bother . . . Looking forward to keeping in touch as well and I agree - Brian and Frank are doing great work here!

unionYES: (January 15, 2010 9:38am)

speedy, a union is the best way because appraisers are not replaced by cheap labor from south of the border.

John Fortener: (January 15, 2010 7:29am)

@Jason Klaskin- I enjoyed meeting you at MRev. I look forward to new success "stories" in the future. Your response to DHA was classy & spot on, unfortunately, he doesn't get it. He thinks he gets it, but he is too bitter to see it. Anyway, Thank you Frank & Brian as well. It was good meeting you at MRev. Keep up the good work. Viva La Revolution!!!

Speedy: (January 15, 2010 3:55am)

I believe appraiser need to come together, but a union. Unions have been the downfall of California and the nation. There has to be a better way than a union, I can not support that. Appraiser need to join or work with the different groups or associations, but I agree appraisers need to unite and soon.

G -Appraiser: (January 14, 2010 9:07pm)

Unless we take our profession back ASAP,we are all out of business soon. When there becomes a shortage of appraisers, who is left will be replaced by AVM's. Many seasoned appraisers I know believe that an appraisers Union is the only way. California has over 6,000 appraisers that need to be contacted. My number is 805 444-7667. I am ready to join, so are my collegues. We would donate our time for the cause as well. I was told by Congressman Millers office that we should ALL at least be contacting our local Senator(s).At least that. He said it really does make a difference, especially with the new bill to sunset the HVCC coming to the senate next after recently being approved by the house. We can at least start by getting on the phone. CA-Senator Barbara Boxer-213 894-5000/L.A office & Senator Dianne Feinstein-310 914-7300/L.A office. I will also be contacting The Appraisers Guild as suggested and looking into www.appraisersupport.com-Maybe do some reporting of my own. What else?

G -Appraiser: (January 14, 2010 9:07pm)

Unless we take our profession back ASAP,we are all out of business soon. When there becomes a shortage of appraisers, who is left will be replaced by AVM's. Many seasoned appraisers I know believe that an appraisers Union is the only way. California has over 6,000 appraisers that need to be contacted. My number is 805 444-7667. I am ready to join, so are my collegues. We would donate our time for the cause as well. I was told by Congressman Millers office that we should ALL at least be contacting our local Senator(s).At least that. He said it really does make a difference, especially with the new bill to sunset the HVCC coming to the senate next after recently being approved by the house. We can at least start by getting on the phone. CA-Senator Barbara Boxer-213 894-5000/L.A office & Senator Dianne Feinstein-310 914-7300/L.A office. I will also be contacting The Appraisers Guild as suggested and looking into www.appraisersupport.com-Maybe do some reporting of my own. What else?

5pence: (January 14, 2010 6:08pm)

ON THE FED'S MORTGAGE BACKED SECURITIES PURCHASE PROGRAM... It would "seem prudent" to pull back on the Fed's mortgage-backed securities purchase program now that the economy is starting to improve. "If we were to wait and see what happens, that means we'd have to keep purchasing which would mean our balance sheet would get bigger," "So that would create anxiety on the other side. Some people are worried about the size of our balance sheet. I don't think we have an exit problem. I think that we're going to be able to manage our balance sheet down very, very smoothly." "Obviously, if mortgage rates were to back up a lot and if that had a big consequence for the economy then we could very well rethink the issue about whether we wanted to buy more mortgages,"

5pence: (January 14, 2010 6:07pm)

ON INTEREST RATE HIKES... When asked what he would need to see before he would feel comfortable voting for an interest rate hike, Dudley said: "I certainly need to see an economy that's vigorous enough to bring the unemployment rate down, number one. "And two, I would care about what's going on in inflation... We're doing very well on the inflation side. We're doing not well at all on the employment side," "What I'm really looking for is to watch job growth, the unemployment rate coming down, and as long as inflation's well behaved then I'm going to be pretty patient on the other side." "What I want to stress is extended means at least six months. It could be a year from now.. two years from now. It's going to depend on how the economy develops."

Anonymous: (January 14, 2010 5:05pm)

OO, NOO, Rate & Term or Cash Out? Circumstances for listing? Need more info

CHUCK: (January 14, 2010 4:46pm)

I MEAN FOR SOMEONE TO DO A REFI...

CHUCK: (January 14, 2010 4:43pm)

HOW LONG DO YOU HAVE TO WAIT TO DO AN APPRAISAL ON UNITS AFTER THE LISTING EXPIRES...

TX LO: (January 14, 2010 3:53pm)

I agree with you "TX Broker", Why should the Brokers and LO be denied of their license if they are late on their payments and going through bankruptcy or have bankruptcy. In my opinion it is a discriminatory to everyone and by doing this lots of people will be unemployed. We all wonder if our government thought about how high the umemployment rate right now, this will put even more people out of jobs especially us Brokers and LOs. We all should call the reps/senators to fight this battle. Taking the SAFE Act is not a problem but taking it because of our credit will be a problem. With the economy now a days, there are so many people out there that can't make ends meet have no choice of doing what they have to do in order to make a living. The SAFE Act will hurt lots of Brokers and LOs their careers.

Deedie: (January 14, 2010 3:53pm)

5pence, Bravo Headline news to day. And your point is????????????

On Vacation since HVCC started.: (January 14, 2010 3:49pm)

P.O.d Appraiser is absolutely correct! I know that it is hard to turn down work when there is nothing to do, but demanding industry standard pay is still the best line of defense we appraisers have left. I've been lucky enough to get FHA work and have turned down any AMC work under $300 (everything i've received since April)and will continue to do so. By accepting to work well below our current standard we are just setting a worse standard for all of us. ALL APPRAISERS REFUSE TO ACCEPT WORK UNDER $300!!

CornerstoneKathy: (January 14, 2010 3:49pm)

Happy Birthday to little Frank! I guess that makes you Frank III..Break him in right ..take him to the nudie bar!

5pence: (January 14, 2010 3:40pm)

NYC's 'skinniest' house sells for $2.1M A town house dubbed New York City's skinniest house has sold for $2.1 million. The red, 9 1/2 foot wide, 42 foot long brick building in Greenwich Village was built in 1873 on land used as an alley between homes. The town house was listed for sale last August at $2.7 million. The two bedroom, two bath home last sold in 2000 for $1.6 million. A plaque on the narrow Bedford Street home notes poet Edna St. Vincent Millay once lived there; so did anthropologist Margaret Mead. The newly-sold building was listed on real estate Web sites Wednesday as a rental available for $10,000 a month. An e-mail seeking comment from the listed rental agent Wednesday was not immediately returned.

CamKat: (January 14, 2010 2:45pm)

A current customer told be that he was trying to do a loan with Quicken Mortgage over the internet. They promised him a 95 cash out refinance and told him that they are going to tell the appriser to low ball the value of the home since he was going through a divorce and had to payoff the wife's equity portion of the house. After collecting the $400 appraisal fee and wasting 30 days of his life, they told him that they are unable to do the loan because of the LTV. Are these interenet mortgage companies not bound to the same guidelines as the mortgage broker?

TX Broker: (January 14, 2010 2:27pm)

bossman & USMC..you hit on one of my pet peeves with the financial history requirements of the SAFE Act. How can it be okay for the major banks (who also have to have their LOs registered on NMLS)to take a bailout because they are on the verge of bankruptcy but the individual LO be denied a license because they have a late pay or a even a bankruptcy? Considering today's environment, it is totally discriminatory based on the size of your business. When this was passed in 2008, it was right before the first TARP bailout. I don't believe it would pass today and I think we should contact our reps/senators about repealing this provision of the SAFE Act. If they won't listen, I am considering taking it to.....none other but those liberals at ACLU. By the way, my credit is perfect but that doesn't mean I don't see the issue as worth fighting.

Deedie: (January 14, 2010 2:24pm)

January 14, 2010 Ms. Mary Jo Few 171 N Atlantic Ave Apt 24 Cocoa Beach, FL 32931-2942 Dear Ms. Few, Thank you for contacting me to express your concerns about the Home Valuation Code of Conduct (HVCC). It is good to hear from you. As you may know, the HVCC came about after New York State Attorney General Andrew Cuomo sued Washington Mutual in late 2007 for allowing its employees to choose appraisers based on the desired values brought in. On December 23, 2008, Federal Housing Finance Agency (FHFA) Director James B. Lockhart announced that Fannie Mae and Freddie Mac would implement a revised HVCC effective May 1, 2009. Among other things, the HVCC prohibits lenders from using â€œin-houseâ€ staff appraisers or management companies that they own or control to conduct initial appraisals. However, critics cite that the HVCC negatively affects consumers by increasing the costs for an appraisal, reducing consumer choice, and adversely impacting a consumer's ability to obtain a reliable and quality appraisal. Additionally, lenders are concerned that the HVCC creates a heightened risk for consumers by requiring the use of unregulated Appraisal Management Companies (AMCs) for appraisals. In February 2009, the National Association of Mortgage Brokers (NAMB) filed suit against the FHFA to block implementation of the revised HVCC. The lawsuit alleged that the HVCC would inhibit competition among mortgage originators and increase the cost of mortgages to consumers. NAMBâ€™s suit asserted that the HVCC constituted a â€œde factoâ€ rulemaking that did not comply with the requirements of the Administrative Procedures Act (APA), which sets out the procedures a federal agency must follow when issuing a regulation. On April 2, 2009, NAMB withdrew its lawsuit against the FHFA in order to assess how to refute FHFAâ€™s claim that no court may review its decisions while the GSEâ€™s are in conservatorship. NAMB believes that the FHFAâ€™s claim that there are no legal limits on the arbitrary and unilateral use of its conservatorship power is unprecedented and will prove detrimental to consumers. Be assured that should legislation related to this issue come before the House Financial Services Committee, I keep your concerns in mind. Thank you again, Mary Jo, for contacting me. I appreciate having the benefit of your views. It is an honor to serve you in the Congress. For more information on my work in Congress or to sign up to receive my E-newsletter, please visit my website, http://www.posey.house.gov/. If I may be of service to you in the future, please do not hesitate to contact me. Sincerely, Bill Posey Member of Congress

Pissed at Hud: (January 14, 2010 2:21pm)

The FHA default ratio is a big joke. Good brokers are penalized for good loans that are defaulting because the customer that could easily afford the home lost his job, so now he can't. Who knew that the economy would sink and a lot of our good clients would lose their jobs. It should be based on fraud or crappy loans. This ratio is effecting who we can do business with. When is HUD going to realize this? If they weren't good loans why did the bank approve them?

James - the other guy: (January 14, 2010 2:00pm)

Hillside Appraisal - WHY would you tell them to check with the lender? Private Party (Hard Money) does not care about HVCC and you should have made it COD, I do that with all Hard Money work I complete. Next time take the money, do the work and build a contact with the lendere of the Hard Money.

Jersey Girl: (January 14, 2010 1:53pm)

Goin Broke App: I found Cuomo's e-mail on a website - info@andrewcuomo.com although I doubt he reads it. I've sent e-mails and only got a pathetic autoresponse and another e-mail asking me for $ for his campaign.

Hillside Appraisal: (January 14, 2010 1:41pm)

I have worked for almost a decade building up about 1800 contacts, and I really would like to be able to market to them again. It is amazing that the HVCC will not allow my clients to order an appraisal directly with me. This week, I had 2 private party refinance appraisal calls, but I had to warn them that their lender may not be able to use the appraisal, and they should ask first if their lender needed an HVCC Compliant before proceeding. I never heard back from those private parties. Having a website and paying for advertising, its quite frustrating to lose business due to a government mandate. Free Enterprise please!

Jason Klaskin: (January 14, 2010 1:39pm)

Thank you Desperate Home Appraiser. I stand corrected. I wish you luck.

5pence: (January 14, 2010 1:15pm)

James no one knows if it'll be voted on in the Seante by 2/15 and then signed into law by that date. Chances are it'll take months to enforce. I'm hoping the HVCC will be gone when the President signs it, but the way progress on why the meltdown happened and bringing the perps to justice is slooooow. You can track the bill here. HR 4173 : http://www.opencongress.org/bill/111-h4173/show ....hang in there. FHA isn't going away.

Desperate Home Appraiser (DHA): (January 14, 2010 12:40pm)

Jason Klaskin,Before you continue reading this response please make sure you have two things ready.#1- your reading glasses(cleaned) #2-your brain(woking).I am not alienating anyone or anything(you are).What i'm saying is lets stay FOCUS and not forget what our goal is.I never said frank or brian or anyone @ tbws are not on our side. If you read other comments from everybody in here with your #1 and #2 in the right place,is that we are all here for 1 thing and 1 thing only and that is :To find a way out of this mess(HVCC,AMC,ETC...) that was created by banks,politicians,lobbyists and legislators from day one.Thank You very much

Survivin: (January 14, 2010 12:35pm)

Brian and Frank - Thank you for the great webcast everyday. I'm actually excited that mortgage apps will be down in 2010. The major reason will be because of less refi business as rates increase. This only means that some larger companies that jumped into this business and have surivived with radio adds and internet leads, will be forced out. The loan officers who have built relationships with Realtors and have worked hard in this tough market will reap the rewards of a good buyers market.

bossman: (January 14, 2010 12:30pm)

So...it's January...and everyone with a license in California got their "draft papers" from the DRE...time to register! So I took a good look at the Fed (NMLS) requirements...and My question is....IF major banks failed, because of bad decisions on mortgages...;and the Fed's bailed them out...WHY are the feds checking individual financial status on loan agents (to make sure were capable of doing loans)????

Jason Klaskin: (January 14, 2010 12:13pm)

Dear Desperate Home Appraiser (DHA): Sigh You can't do this alone. The TBWS guys are getting eyes to your cause by doing the things that draw people to the website. In other words, you have people listening to what you have to say because of them. My recommendation is to be a little more careful about what you choose to actually say in this forum as it will say a lot about you. You can't fight this fight alone my friend. Alienating those around you, who are actually on the same side as you and are supporting your cause isn't the best way to pull them closer. Just something to ponder. All the best in your fight!

Goin Broke App: (January 14, 2010 12:04pm)

what is Cuomo's email?

james: (January 14, 2010 12:00pm)

can somebody please answer when the vote is on hvcc going to happen before 2-15 because fha is all we have now - can somebody out there tell us where ans when this is all going to happen ON VOTING FOR IT TO GO AWAY- this hvcc is going to put me out of business

P.O.'d Appraiser: (January 14, 2010 11:52am)

I understand the complaint about the AMC's and them taking part of the fee. I turn work down two or three tines a week because they want to pay 1/2 to 2/3 my normal fee (I can Go Broke Fishing or on the Golf Course instead of lining someone elses pocket with my work) Until you, the appraisers, are willing to turn down the substandard fees and only work for companies that pay your fee then the AMC's are not going to change. WHy should they. Everyone has an opinion on what needs to be done but most want someone else to do it. Suck it up, quit just complaining and start standing up for your fee. Turn down those fees that are below what is an adequate fee. IF you don't, then you will get what they offer or you will be gone. Write your senators and congressman, Write Cuomo, write HUD, I have. Most have websites and emails. Phone them. But until this changes quit taking substandard fees.

Central Valley: (January 14, 2010 11:46am)

No Spin: Just the Facts: WELL SAID! Fannie Mae, Freddie Mac, and their handlers.....

Desperate Home Appraiser (DHA): (January 14, 2010 11:45am)

Jason Klaskin,yeh your right we are going to win this battle with that contest.(SURRRRRRREEEE).Maybe you should fight the terrorism the same way(with contests).Why don't you run for the next presidency of USA???with your plan we'll have peace on earth in no time.

No Spin: Just the Facts: (January 14, 2010 11:44am)

Desperate Home Appraiser (DHA): I understand the darkness as I have experienced the devastation it plays with my ability to see the solutions...........I concur that it will take working SMART & HARD to solve the challenges of the day...........Energy comes from laughing and believing in oneself and living everyday with GRATITUDE for what we do have not what we do not have.......I have served more people by being positive than I have ever could with a negative attitude......Never be a VICTIM, only a student from life's tuition called LIVING!!.... I think about people that have survived much bigger personal challenges than bureaucracies can throw at us; for that I am GRATEFUL!!.......Hopefully you will find laughter in your days, regardless of the challenges you face:-)

Jason Klaskin: (January 14, 2010 11:36am)

Desperate Home Appraiser (DHA): I have to disagree with your assertion that TBWS stop working on other endeavors (aka the originator's contest, etc). How many comments do you think are on this particular thread because these guys are using creative ways to reach out to new audiences. I keep reading everyone's comments here (including your own) that I would never have noticed had it not been for that contest. I think they have their sights set just fine. They are not your lobbying organization. I'm sure you are very involved in your lobbying organization (right?)and are fighting the fight so keep the fire burning but don't put out others. This newfangled social media thing is a bit new but you can't knock them for trying different ways to get eyeballs to a subject so near and dear to your heart. I think a big 'thank you' is actualy more appropriate - but that's just me . . .

No Spin: Just the Facts: (January 14, 2010 11:33am)

5Pence: Well said. If you are confident you do not need bureaucracies to protect you from people asking you to do unethical activities. JUST DO NOT DO THEM. May I suggest appraisers stop the blaming other appraisers for the housing crisis. ................ The crisis is the result of the Federal Government's abuse of Equal Credit Opportunity Act (ECOA) & Community Reinvestment Act (CRA). They forced banks to make bad loans due to threats from Justice Department (ECOA) and Federal Reserve, Office of Thrift Supervision and FDIC (CRA).................... Wall Street and Ratings Agencies were given clearance from SEC to sell the garbage that was demanded by Federal Government............Bad Credit No Money Down Loans!!!

5pence: (January 14, 2010 11:16am)

It's the banks controlling the process from beginning to end that keeps appraisers at each others throats. Time to end that pressure from the banks that control the strings and keep us at odds with each other. Demand the homeowner be the client and it would only take a small USPAP update.

Desperate Home Appraiser (DHA): (January 14, 2010 11:16am)

No spin:Just the facts, i've tried doing that but unfortunately laughing does not pay my bills(If it does pay your bills ,please show me how).Now its time to fight for our rights.When america wanted independence from the british government they fought back,and they won.We can not win this thing with dancing,laughing or siting still.

the mad appraiser: (January 14, 2010 11:14am)

i agree with (poor appraiser) there needs to be an appraiser union in order to have a voice! heck i just cost me over $1100.00 to keep my certified license. california renewal fees are $480 and the renewal classes are $650! hmmm why is that? i also hold a RE license which in comparison cost pennies to keep up. point is they want us to pay a premium, while they pay us peanuts! i've tried working for amc's but i cant belittle myself to work for $200. when i do it feels like im getting b***ch slapped by a pimp! i have cancelled all memberships because they do nothing but take! AI and others are phoneys and obviously in favor of the current state of the business.i would rather pay top dollar union dues than pay any of those clowns. i have been appraising since the age of 20yrs old. i was trained by my grandfather whom i suppose is rolling over in his grave. speaking of training, who will train the next generation? it takes years to become an appraiser.not months like agents and lo's.

5pence: (January 14, 2010 11:13am)

SimpleSolution-have you never done a COD & got paid at the door? Have you ever had any problems with getting paid at the door? I don't understand appraisers fear of having the HO as the client instead of the bank. Reminds me of all the cries from appraisers that "mortgage brokers are bullying me" LMAO. Wusses. It's the perfect solution imo. I'd let my reputation & my experience dictate what I make any day over being told how much I'll be paid & when. The homeowner as client completely takes the competitive pressure off the appraiser to be #1 for the bank. Lose an AMC you've lost hundreds of clients and thousands of appraisal orders, lose a homeowner, you've lost 1. Simple choice for me. Paid at the door, the homeowner can market the appraisal anywhere they want as all appraisals done by state certified appraisers should be good at any bank & brokers can market themselves at better rates than the banks. Goodbye skippy & HVCC amc's. Keep the banks honest, as they don't know how to be.

Jersey Girl: (January 14, 2010 11:10am)

B&F TBWS: Thanks again for all you do and helping in this fight with the HVCC. I really cannot believe it has gotten this bad. Did you say Marc Savitt is heading to Cuomo's office next week for another meeting???

Desperate Home Appraiser (DHA): (January 14, 2010 11:09am)

ryand,i could not agree with you more.it's sad how some old timers forget where they came from.

No Spin: Just the Facts: (January 14, 2010 11:09am)

Desperate Home Appraiser (DHA): It is much better to Laugh than to Cry!! Turn the darkness of stress upside down; allow the light of your brilliance to shine through to the answers you are looking for. Believe in yourself; have fun while you are working smart & hard!!

ryand: (January 14, 2010 11:03am)

old timers dont forget that you were once young appraisers yourself. why alienate the future of your profession. nobody wants to work for 150 bucks, old or new. the state decides when an appraiser is fit to sign off on work, not you guys. Its this alienation that leaves appraisers as a group powerless. If appraisers licensed in what most of you would consider "recent" years could make a good fee, they would. Whats funny, is many of these old-timers talk bad about newbies, and after many years of experience work for the same fee. So as a newbie I want to say thanks to you old guys, I now work for 50% less b/c what you consider the "backbone" of our industry, has let amc's influence them. Whether I was licensed 20yrs ago or yesterday, the liability and workload is the same and the amc fees arent enough.

Desperate Home Appraiser (DHA): (January 14, 2010 11:02am)

frank tbws,i forgot to put your name in my little comment below.lets stay focus on the enemy

Trust Your LO: (January 14, 2010 10:59am)

VA loan?? How am I going to get paid on a VA loan? The processing and bank underwriting fees eat up the maximum 1% origination fee allowed by VA. If I add YSP in this area will I still be ok?

SimpleSolution: (January 14, 2010 10:56am)

Frank and Brian-Don't know if you read the blogs the other day but please tell me that Mark is not going to Cuomo with the solution of letting the homeowner pick the appraiser. Trust us when we say this will only worsen things. Is that still his stand on what he will be going to Cuomo with?

Desperate Home Appraiser (DHA): (January 14, 2010 10:56am)

brian tbws,Please for gods sake lets put an end to nominating the sexiest realtor, lender, appraiser, and title people.Lets concenterate on this stupid,preposterous,absurd H.V.C.C and how to get rid of it.It has killed many appraisers,agents ... who cares about the sexiest blah,blah,blah.We need to continue this fight and get our jobs back form these blood sucking A-s-s H-o-l-e-s(AMC's)I think you guys were doing a great job fighting this thing with us, but now it looks like you guys have put down your guards and punches.Please lets focus on our enemies and find a solution before its too late.Thanks

BIG AL: (January 14, 2010 10:55am)

At the time, no, in 17 years appraising I maybe had 2 that were over 1 million $ financing and couldn't do them. My clients didn't have rich clients and there just wasn't the need. I'm going to take the test soon. I used to be a review appraiser and was a supervisor appraiser. My point is, why tell someone here's what you can do, then when you spend all your time and money to get there, then its taken away from you. A big let up for a big let down. I don't trust no one in government.

JAMES: (January 14, 2010 10:47am)

is the vote on hvcc going to happen before 2-15 because fha is all we have now - can somebody out there tell us where ans when this is all going to happen ON VOTING FOR IT TO GO AWAY

WF Broker: (January 14, 2010 10:45am)

Why after 11 years didnt you upgrade? It sounds like you have plenty of experience, and continuing ed. Wouldn't it have been better to upgrade and be able to appraiser a broader range of properties?

BIG AL: (January 14, 2010 10:33am)

Water Faucet, Why are the California Appraisers only want Certified in there Union. Isn't that just as bad as the AI just wanting only there designations to get appraisal orders. Thats discrimination against a whole license level. People who spent there whole working life appraising, going to CE classes etc.... I think a union should let all appraisers in and not so inclusive. FHA said it self it had more problems with certified general's than licensed appraisers and didn't want to slam the door on good appraisers that have already been doing FHA work. For me 11 years on roster to get the boot just isn't right. I'm fighting for my life to get my clients back and a fair playing field. I am better than any certified appraiser at what I do. Its not the level of license that makes a good appraiser. I believe experience it the key factor. But Congess didn't give that a thought. I think Congess should stay out of appraisal matters and give us back a free market where we can compete again.

Central Valley: (January 14, 2010 10:33am)

Oh, and I forgot to mention. That includes US Territories as wel....

Central Valley: (January 14, 2010 10:27am)

Yeah you are correct! 116,987 that still posses an active license! How many are still working is another issue.

central valley?: (January 14, 2010 10:23am)

125,000 appraisers? and how many of those are still in buisness. I think your numbers are off

HVCC facts: (January 14, 2010 10:20am)

The website you mentioned today appears to be a small portion of the full article that is posted at www.andrewcoumo.com the original article states the pizza analogy as well as the illegalities of the blackmail to create the HVCC.

Central Valley: (January 14, 2010 10:20am)

My mistake, 116,987 as of today....

Central Valley: (January 14, 2010 10:17am)

No Spin: Just the Facts: I really don't dis-agree with you. Where was everyone prior to Dec. 24 when it was signed? Most appraisers were already battling it but, there are two things that must be understood, one is that there are only approximately 125,000 appraisers in the nation and secondly, they have no combined voice. Even if they did, 125k would be nothing but a whisper!. Yes, we all have to work together but, until a group sees that it is going to affect them, they don't worry about it! What we need to do is educate the consumer! The court of public opinion has a very LOUD voice!

No Spin: Just the Facts: (January 14, 2010 10:15am)

Central Planning Governments = BAD. Small Federal Government promoting Freedom for the brilliance of citizens solving challenges of the day = CONFIDENT CITIZENS. Look to the inner cities to understand the results of 40 years and hundreds of billions of taxpayer's money focused to create government dependency. Once proud & self sufficient citizens succumb to Federal government controls thru taxpayer dollars redistribution and the rules to receive. The Fed government is like drug dealers preying upon those feeling less confident about their own abilities for self sufficiency. Our Federal government is now targeting control of more citizens thru government regulations & taxation to strip you of your freedom. POWER TO THE CITIZENS!!

Miller 2 Ill lAppraiser: (January 14, 2010 10:12am)

Were you joking the other day about NAMB quitting fighting the HVCC and let buyers order the appraisal. One of the reasons you are on the web and get so much viewing is what that has done to the industry. Giving UP? It still skunks the appraiser

No Spin: Just the Facts: (January 14, 2010 10:05am)

Central Valley: Where were the Appraisers,Mortgage Bankers and Realtors in the lawsuit filed by Mortgage Brokers to prevent Fannie & Freddie from implementing HVCC? Have any of the professional organizations representing these groups fired the leaders that allowed HVCC to go into place without a fight? The past is but a learning opportunity. Fortunately, I am so glad all the professionals are on the same bus searching for a way to stop HVCC. It certainly should not be by creating yet another bureaucracy Consumer Financial Protection Agency. This is yet another WAKE UP & THINK ABOUT THE CONSEQUENCES OF WHAT YOU ASK FOR. End HVCC on its own merits of being BAD for everyone but AMCs.

brian tbws: (January 14, 2010 9:56am)

Thanks Reina, It was great hanging out with you. Frank and I both had a blast and you were a big part of that. Keep up the good work and hopefully our paths will cross again.

Reina: (January 14, 2010 9:45am)

You guys are a blast and it was so much fun meeting you at Mortgage Revolution!! Like someone else said it's rare to stay for a full 3 day conference on anything but I found it extreemly hard to break away. Mark, Mark and team organizing as well as all the great speakers were amazing and extreemly generous and selfless!! For the record...Your show always makes me smile and often spit out my coffee laughing!! Keep up the good work! Muah!

5pence: (January 14, 2010 9:44am)

No Spin. The AI went to the Ct legislature to protest passing of the Dodd/Crowley proposal. Why? Beacuse it might have gotten rid of AMC's. Can you believe that? They say they represent appraisers but they represent their own self-interest. AIREADY and raising the de minimus to $250k for example. They're bought and sold. Appraisers have worse than no representation. How many homes in america are worth less than $250k and don't need an appraisal. The AI is our enemy imo. They want AMC's as their members run many of them. The AGA is the only one that understands and will stand behind the appraisers plight. EzraAdams that posts here is a member and I think, one of it's ranking members. AMC's and the HVCC need to die

Central Valley: (January 14, 2010 9:41am)

No Spin: Just the Facts: You are not completely accurate. Appraisers have been fighting it since day one. The AI was for it because they thought they could "back door" themselves in. NO reasonable appraiser I know was ever for the HVCC!

james: (January 14, 2010 9:37am)

is the vote on hvcc going to happen before 2-15 because fha is all we have now - can somebody out there tell us where ans when this is all going to happen ON VOTING FOR IT TO GO AWAY

5pence: (January 14, 2010 9:35am)

Water Faucet-did you just complete an FHA appraisal? lol. I had typed it wrong earlier. My apologies. It's the American Guild of Appraisers. Here is their website...... http://www.appraisersguild.org/default.htm.... Feel free to call either numbers of the President or Treasurer. They're never too busy to talk to appraisers. Look up Peter Vidi, the secretary, you'll be impressed. Another thought about "too big to fail". Think about it- in order to keep themselves that large they must have to deal in illegal activities, with or without government sanctioning. Illegal shorting, manipulating markets, selling worthless securites, owning AMC's and other scams. They just can't financially stay too big to fail without illegal activites to support them. They need too much money to keep themselves that big. There's not enough money in the world to do that -as has been shown. The bigger they are the more they need to control markets to keep themselves that big. Break them up.

No Spin: Just the Facts: (January 14, 2010 9:34am)

Mortgage Bankers & Appraisers were NOWHERE when the Mortgage Brokers were shouting from the rooftops and filing lawsuit to STOP HVCC B4 it went into effect May 1, 2009. Appraisers were supporting HVCC through their professional organizations support for HVCC as if it was going to prevent people asking them to to provide higher values than supported by valid appraisals. The majority of appraisers had already remained professional and worked with origination firms that accepted a sound appraisal value. So why did they let their representatives support Cuomo & his HVCC? They thought it was only going to affect Mortgage Brokers. Mortgage Bankers were silent because they thought it was only going to affect Mortgage Brokers. Now both the Mortgage Bankers & Appraisers are looking for other professionals to come to their aid in fighting the INSANE HVCC. Yes, the Mortgage Brokers will remain in the fight and are appreciative that other professionals, including Realtors, are now awake.

WATER FAUCET: (January 14, 2010 9:34am)

AMC'S........JUST WAIT UPRISING AND LEGISLATION IS COMING FROM APPRAISERS, LENDERS AND CONSUMER. ITS TIME YOU GOT YOUR HANDS OUT OF THE APPRAISERS POCKETS. CROOKS, CREEPS AND CRIMINALS.........

WV Appraiser: (January 14, 2010 9:34am)

Thanks CentralValley, I will do that.

Honest Appraiser in WI just hanging on: (January 14, 2010 9:33am)

Vote ALL the bums out starting in Nov! We as small businesses have more economic knowledge in our little toe than Obama has in that ego swollen self absorbed commie head of his! We will have to make sure THEY eat cake! Thanks for info on AGA. Very helpful indeed. Lord knows we need all the help we can get.

Central Valley: (January 14, 2010 9:17am)

WVAppraiser- Contact the lender directly and your State OREA and notify them that you report has been modified. If your file is ever reviewed and it does not match your copy, you are in deep.... Major USPAP issue!

WV Appraiser: (January 14, 2010 9:12am)

Just a thought for all you appraisers out there! I am really supporting the appraisersupport website, as I think it can help. One other avenue that I just realized would get a similar effect is taking advantage of what FHA mortgage letter 2009-28 says. According to that letter, you can enter the fee you were paid in the report, and the AMC or other third party cant stop you. So do it. This will get back to the borrower, which could anger them, which would help our cause. That is assuming that the AMC does not change your report. I just sent one in (for the first time) with the fee in the text, and they re-uploaded the report to the Mecury Network with that section clearly cropped out. I am so mad, and I have already contact HUD. But either way, at least some of them should make it through. Just keep working at it guys!

WATER FAUCET: (January 14, 2010 9:11am)

5PENCE WHAT IS AGA?

GODLIKE: (January 14, 2010 9:03am)

BMG I've talked to all my wholesalers and all of them still say they are going to start approving brokers for FHA, but don't know the rules or when yet.

5pence: (January 14, 2010 8:53am)

You can form a Guild in your own state. States are doing this right now. A Union wouldn't work as there is no line to cross in a strike. You can stop joe blow from accepting a $150 1004 in their home office. A Guild is unique and would serve our self employed group well. AGA. The heads of the AGA are past officers of the AI and other groups, have testified before Congress and know that the AI is not on our side. This is a great alternative to take back our profession. I'm in Washington State and I joined. Their ranks are growing daily.

BMG: (January 14, 2010 8:52am)

I thought HUD was elininating the audit process for mini-eagles etc in January but I've heard it's even worse than before? When will lenders open FHA lending to qualified brokers?

check this letter out written by congress to Bernanke: (January 14, 2010 8:51am)

Check out the letter out scumbag pathetic crooked senators wrote to Bernanke on the subject of YSP recently. It is this type of ignorant political grandstanding by the same fools that bend the rules in the first place that is as much to blame. Never before in Amercia's history does everyone need to get out and vote these crooks and Obama out of office and vote in real "change". Because the only change i see is a bunch of pennies jingling in peoples pocket because the country is broke o mr maestro community organizer. Your Obamanomics plan is as useless as tits on a nun! http://www.mortgagenewsdaily.com/cfs-file.ashx/__key/CommunityServer.Components.UserFiles/00.00.03.44.60/Senate-Letter-to-Fed-regarding-YSP.pdf

5pence: (January 14, 2010 8:48am)

The AGA has the full backing of the AFL/CIO. A great example of a modern Guild is what realtors have - the NAR. They are powerful. I'm telling you guys that want to form a union, the AGA are the only ones on our side. They saw this coming in 2004

Central Valley: (January 14, 2010 8:48am)

HVCC Solution - I asked that specific question of several amc's a few months ago. Actually, I asked for a breakdown of license levels and years experience. I was told that "this information was confidential!" You think they know what would happen if it was exposed????

5pence: (January 14, 2010 8:43am)

Cuomo was head of HUD & made rules for the GSEs that they couldn't open their books to anybody. As AG a few years later, when the eappraiseit/WAMU fraud happened he saw it as his chance get his way & make friends of the big banks for his political ambitions. So he ordered them to open their books (which he knew they couldn't) or enact his HVCC. I consider this nothing short of blackmail/extortion. Now the bank owned amcs are hiring the most incompetent (as if they're the gold standard by which the profession is measured) & good honest appraisers can't survive. Hiring the least competent gives support to their avm's. They expect to replace us with avm's & keep all the money. If you've worked for an amc you know there's no loyalty & if you keep working for them it's a race to the bottom as far as fees. My suggestions: 1) join the AGA (appraisers guild of america-$150/yr). Unlike the AI, NAIFA-they are for US! 2) boycott any run by Cuomo for public office, loudly & in his face.

water faucet: (January 14, 2010 8:42am)

Some long term ranking appraisers here in Ca are currently trying to organize an "Union" for Certified Appraisers. Put the control back with the appraiser.............

kc broker: (January 14, 2010 8:25am)

when are they voting on the bill 4176 with the HVCC moratorium and is there anything else we can send and to who t help this

Khai McBride: (January 14, 2010 8:23am)

Love the aquarium background :)

Snowball: (January 14, 2010 8:20am)

CUOMO is a SCUMBAG and in bed with bankers and others of their ilk. Their attitude is to let the appraisers and the public "eat cake"

Honest appraiser in WI just hanging on: (January 14, 2010 8:17am)

HVCC is an abomination. AMC's are greedy, evil & bad for borrowers, appraisers, l/o's & the entire market. They care NOTHING about appraiser quality & experience. They'll dump me for $5. My brief experience has been bad with the few I tried over the years and I was treated no better than disposable dirt. But what really kicks me is that our supposed appraisal professional organizations like NAIFA & Appraisal Institute have done little or nothing to protect our interests & careers. And with their big annual dues yet I might add! So sad we have no lobby. I do not work with AMC's and if I lose my last little handful of good bank clients, I am toast & out of this business after 10 good years of building it. So what happens when all the honest & experienced appraisers have been forced to leave the field? Past year, profit seems to have become a very dirty word. So I say to our lousy government, Cuomo & Barney Frank: Guess what Mr. Taxman? No profit for me, no tax revenue to you! Like that?

Sedona Loans: (January 14, 2010 8:16am)

Not only do AMCs pay appraisers too little, another huge problem is that they are very slow to pay for delivered appraisals. I know appraisers who are waiting more than 90 days to be paid. This is putting them in serious financial jeopardy. The client's credit card is charged immediately when the appraisal is ordered. What is the prob?

Midwest Appraiser: (January 14, 2010 8:10am)

I like the HVCC SOLOUTION idea. but have no idea where to get the data. any ideas?

FORMERMMGJUNKIE: (January 14, 2010 8:06am)

Not sure why you promoted MMG other than sue is totally hot. Rate Alert is better.

dd: (January 14, 2010 8:04am)

Suggestion of what might make believers out of lending in the future and ensure that this kind of misery is no longer inflicted on this country. Take the CEOs and board of directors who pushed the bad loans, put them in front of a firing squad and pull the trigger!! In the first wave would be the former CEO of Countrywide! Unless something drastic like this is done, people and businesses have very short memories. Think back to the S&L mess of the early 1990's. It only took 10 years to forget all they had learned! Mass executions might be an excellent memory tool.

A HVCC solution: (January 14, 2010 8:04am)

Someone should pull the stats on the average time a current appraiser who is doing HVCC appraisals has had his license, compare this to the average time an appraiser had his license on appraisals prior to HVCC ( go back say 2 years), and they should also compare the fees appraisers received prior and currently with HVCC. Surely these stats will show that current appraisers are more much more inexperienced and the fees they now receive are correlational to the qualify of the appraisals that are being done. This is 2010 and surely with all the technology we have, someone can make this study happen. I know sometimes i have felt like tracking down a few of these HVCC appraisers that worked on my files and whacking them on the head with a bat. I am an originator and HVCC has been going on too long, Coumo is a lying Bast%%$#$ if he thinks there is no damage being done, we know he knows! We need to produce stats for him to make a change. Appraisers make it happen

Gilbert: (January 14, 2010 8:03am)

Hey Guys, I was just looking at the list of Lenders that are being investigated by HUD and I notice that a few of them were known for doing FHA loans for borrowers who had lower than normal credit scores. I'm not shocked that they had higher defaults when the poop hit the fan since they were taking greater risk.

brian tbws: (January 14, 2010 8:02am)

Thanks guys. Hey we're looking for a story about BofA banning YSP retail. IF ANYONE CAN VERIFY PLEASE POST THE SOURCE

DustinH: (January 14, 2010 7:57am)

That was very imformative and incredibly funny, especially if you attended MRev. Well done guys. LOL.

WV Appraiser: (January 14, 2010 7:54am)

Frank & Brian - Thanks for the exposure of the appraisersupport website. You guys are awesome!!

Tam: (January 14, 2010 7:52am)

I clicked on the AMC link and the video in that says to sign a petition but there is no link for a petition to sign. Am I missing something? Thanks!

BrokeOKappraiser: (January 14, 2010 7:52am)

Ive already see the firewall being integrated this week by a local lender. Its my opinion that theres more to this than the HVCC. It looks like a long drawn out plan to eliminate the appraiser field, and use some type of online/comp finder service. The good experienced appraisers are getting out, and the banks wont allow trainees to work anything without the supervisor inspecting every subject and comp, therefore cutting into the fee split, and the trainee cant make it. If the Amc's are paying $ 250 per appraisal, and the supervisor halves it the trainee gets $ 125.00 to do all the work. No one can afford to do that, and the risk outways the possible profit down the road. So now you have no new appraisers coming into the field. Clickforms already has a comp/grid program. Banks are using AVM's like they the best thing since sliced bread. At this point there is no pot of gold at the end for this field.

Poor Appraiser: (January 14, 2010 7:50am)

Southern California area. Landsafe pays me well $400-$650 an appraisal but as more appraisers got on the list my business slowed and more calls come in biding on my work. Most gets rejected for overbidding. LSI is the worst with $225 a pop. I wont even leave my back yard for that. Has to be in my town or no deal. All other companies are roughly $225-$250. Horrible I know but I have to pay the bills. Just a thought........If construction workers and grocery stores can form a UNION........Why can't appraisers?, with a Hoffa like figure regulating our industry for us. I would pay handsomely for such a leader! Union dues would trump the low fees we recieve now. STRIKE!!!!!!!!!!

IN Appraiser: (January 14, 2010 7:49am)

The Lenders are responsible and liable for the appraiser compensation. I suggest we start listing our compensation in the report per ML 09-28. AMC's are NOT allowed to make a PROFIT from FHA appraisals. This is potentially a way we can force AMC's to start paying normal fees for FHA appraisals. We (appraisers) need to organize and start including our compensation in ALL FHA appraisals (begining Feb. 15, 2010?). Then HUD can start enforcing ML 09-28 on the lenders, and ensure fair compensation for FHA appraisers.

Frank Garay: (January 14, 2010 7:46am)

Brother Can You Spare a Dime? If there is anyway you could get us a link or something on this that would be great! Shoot us an email - TBWSDaily@gmail.com - Tks!

Midwest Appraiser: (January 14, 2010 7:45am)

Firewall? do you mean allowing them to retain full control and pocketing 1/2 of the appraisal fees charged?

Toby: (January 14, 2010 7:44am)

Keep in maind that none of the legislation to kill HVCC would take effect until next year. In the mean time HVCC will sunset in November of this year. Not that anyone thinks the lenders won't still require a firewall system for appraisal ordering though.

5pence: (January 14, 2010 7:40am)

Poor appraiser : It's the AMC crooked banksters rewarding their own, you know, lazy and incompetent charlatans. It's like Darwin in reverse, hiring the cheapest, fastest and least competent over the experienced and qualified. HR 3044 was incorporated in HR 4173 the consumer protection act. It passed the house and is going to the Senate. It will be voted on this session and then signed by the President, probably in the spring. We are all hoping that it's implementation is the day it's signed by the Pres. HR 4173 is a totally round about way to take care of the HVCC. Reason? It's going to cost trillions to run - lots more money for the fat cats living off our taxes. I'm so glad they can spend my money to use it against me (Not). The huge and I mean HUGE problem with HR 4173 is that it enshrines Too Big To Fail with a permanent backstop of taxpayer funds. Too big to fail is too big to exist IMHO!!!!

BrokeOK Appraiser: (January 14, 2010 7:34am)

IN Appraiser. That is completely true, but these AMC's have convinced the banks that FHA was to be ordered through AMC's, and now the banks are so used to it they dont want to change, especially this close to Feb 15th. I have a local bank that has an inhouse person rotate between appraisers, and they rotate all because when they sell secondary the secondary requires that they have a rotation on all, Conv, FHA, RD.

Derek Egeberg: (January 14, 2010 7:32am)

I can't concentrate on my user generated content over here as I am ROTFLMAO. Thanks Brian and Frank for a very cool reminder! SPIDERMAN.

old dog: (January 14, 2010 7:30am)

Poor Appraiser: A year ago I wrote to an MAI appraiser who was on the board of the Appraisal Institute and a part of a Washington DC think tank for this change in our industry and ….oh by the way..AN OWNER OF AN AMC COMPANY!! This is a portion of his reply to me regarding where the industry should be going. This is directly quoted from his email to me: What we need to do is make appraisers more professional and require much more training. In so doing, as weaker appraisers and less motivated appraisers fall away, the true cream will rise to the top. In other words, we need to reverse the effects of the bad implementation of FIRREA (good idea, poorly executed) and reduce the huge numbers of appraisers so that the survivors will restore our business to where it was before 1989 but with better training. It won't hurt our business model a bit and appraisers will earn more. It's so obvious who will be left and it's obvious that he is an idiot!

IN Appraiser: (January 14, 2010 7:29am)

MORTGAGEE LETTER 2009-28 Appraisal and Appraisal Management Company (AMC)/Third Party Organization Fees FHA does not require the use of AMCs or other third party organizations for appraisal ordering. FHA-approved lenders must ensure that: FHA Appraisers are not prohibited by the lender, AMC or other third party, from recording the fee the appraiser was paid for the performance of the appraisal in the appraisal report. FHA Roster appraisers are compensated at a rate that is customary and reasonable for appraisal services performed in the market area of the property being appraised. The fee for the actual completion of an FHA appraisal may not include a fee for management of the appraisal process or any activity other than the performance of the appraisal. Any management fees charged by an AMC or other third party must be for actual services related to ordering, processing, reviewing of appraisals.

jp: (January 14, 2010 7:25am)

when are they going to vote on this and how soon will we know

Poor appraiser: (January 14, 2010 7:25am)

Its amazing to see seasoned good appraisers out of work or with very little work and newby, horrible appraisers busy with tons of AMC work. What is this saying about our profession? Just a thought.

mwoojones: (January 14, 2010 7:23am)

Midwest Appraiser, thank you for saying exactly what I also wanted to say. Sorry, but I am on the verge with this mess right now! I have always thought that the HVCC devalues the business relationships that are established. I have never had an appraiser agree to do anything that was not above board no matter how long our relationship or number of appraisal orders. I have always appreciated the courtesy call from an appraiser that says the values not there or you'll have some conditions, but we can get the value. L.O.'s who are reputable don't expect a fictitious value anyway but we do want QUALITY work. We have the utmost respect for appraisers and the pressure they deal with and we are committed to the fight to correct this travesty.

Toby: (January 14, 2010 7:21am)

Mmm Ric, HR3044 is a wet rag that would do nothing but negate the agreement between Cuomo and the GSEs. In that void we would simply have HVCC-like rules similar to the FHA rules going into effect on February 15. Out of the pan and into the fire! The Financial And Mortgage Industry Reform Bill was passed in December and is headed to the Senate. This bill NOT ONLY eliminates the HVCC, but adds language which specifically permits an loan originator licensed under the SAFE act to order and discuss the appraisal with the appraiser. Try to keep up, and don't be such a Barney hater. He's got your back. You want to complain, call your Senators.

jp: (January 14, 2010 7:18am)

so both bills 4176 and 3044 are dead - can you please explain what is going on right now and where hvcc stands

Atlanta LO: (January 14, 2010 7:15am)

MRev was a fantastic event. Great information and opportunities to share ideas. It was well worth the time & $$$ investment. Mark + Mark and "company" did a great job and it was fun spending time with you two (Frank & Brian).

Midwest Appraiser: (January 14, 2010 7:12am)

Fair fees are NOT the only thing we want. We want to be able to retain the clients we have worked with for years. Its unfair that business relationships we have developed over years of developing our businesses are now meaningless for no other reason other than HVCC. I constantly get calls from past clients looking for guidance on bad reports that were completed by other appraisers where we would have gotten the orders. can you say RESTRAINT OF TRADE? that's what you have here. LO's want to do business with our firm. NOT BECAUSE WE INFLATE VALUES BUT BECAUSE WE DO QUALITY WORK. I can't think of one other industry where appraisers are forced to stand with their hands out waiting for their number to come up on some rotation list to get work when their professionalism and quality of their work should dictate their volume and their income.

BrokeOK Apprasier: (January 14, 2010 7:11am)

GAG, I completely agree with what your saying. I posted last month that I was done. I am struggling to pay the house now. I have let my assistant go, closed my office and working from home, while I have a home. I wonder if the appraisers who were asked in May and June that liked the HVCC then, would change their answer now. Appraisers in OK were covered up in work then due to low rates and all the refis, but theres none now, and all the AMC's are offering is half of what I used to make. Instead of griping its time the appraisers got together and with one of the appraiser organizations "NAIFA etc" and fought this. Were the ones getting screwed but no one has the cahonies to step up, and say NO MORE! I am currently looking to work elsewhere in another field. I thought if I could make it 3-5 yeasr with the HVCC a lot of appraisers would retire and without the influx of trainees due to regs, I would be set. Unfortunately I cannot hold on another month, much less 3-5 years. Good luck!

Mark Madsen: (January 14, 2010 7:09am)

I know my Charity in Vegas is going to appreciate everything you guys did to help us make MRev ATL a success. World Domination Night was awesome, looking forward to MRev San Fran. Squirrel

mwoojones: (January 14, 2010 7:09am)

Brian, I'm complaining about the appraisers compensation because it's ridiculous to devalue their expertise by paying them only $250.00 out of a $400 fee! I'm on their side! They are worth every bit of a $400 fee or more. They need to be compensated fairly or at some point, they will be forced to take on more to make it up in volume. I was not aware that they were not still making their normal fees until this fiasco occurred last week. I was disgusted to see that. I wonder how much of the $250.00 actually went to that appraiser? I would guess that a portion went to the company and the appraiser is left with little for their efforts. My issue is with the system that pressures appraisers to deliver extremely conservative estimates even in a recovering market.

JP: (January 14, 2010 7:08am)

so both bills 4176 and 3044 are dead - can you please explain what is going on right now and where hvcc stands

brian tbws: (January 14, 2010 7:06am)

Hi DAG. I was responding to the last line. He was taking a shot at lenders compensation. Just my 2 cents but I think we're all in this crap together and we should have cosideration for each other. I think appraiser's are getting totally hosed right now. Worse than anyone in the industry. However lenders are not far behind. We've been blamed for this whole mess from the get go. Our compensation has been attacked and taken away and our process for conducting biz has been so greatly distorted that many in the biz wonder if its worth it. I'm rambling.... I get your frustration. Just saying your not alone

USMCGEO: (January 14, 2010 7:05am)

To whom it may concern One question, why would you not allow someone to make an honest living? The State of WI DFI will not allow people to be loan originators who they believe have been irresponsible with credit. Irresponsible in the States view is anyone with bad credit in the last few years, NO MATTER THE CIRCUMSTANCES. How can you stand by and let this happen? How can you allow people that want to work and pay taxes, lose their jobs when this can be prevented? Bankers, Realtors, Stock Brokers, Financial Planers, and Politicians……yes Politicians …..Don’t even have to adhere to this standard. How can you allow an industry discriminate as a whole and put more people out of work in the worst economic disaster in 80 years? More people on unemployment, more people competing for jobs. I’m having difficulty with this logic. I’m wondering if someone in public office can enlighten me, please. I have been a Loan Officer for 11 years. I have not one single complain against me from a client. I have literally serviced thousands of people. My record for lending is impeccable. I paid my bills on time for 23 years. I served six years in the United States Marine Corps. Service to my country has left me with a rare form of cancer that I have been battling for about 3 years now. Cancer that I can not prove came from contaminated water at Camp Lejuene. In a discussion with the VA, I was told that I would never be able to prove it and that its just too bad. I already feel completely screwed by my country. I won’t let it just happen again. I will persist until I get answers. You owe this to me. My battle with cancer and poor economic conditions have left me bankrupt and I’m about to lose a property I own. Moreover, in 1999 I was left disabled in a car accident. I lost my career as a hydraulic tech. I suffer from chronic back pain. The mortgage industry has given me the flexibility to earn a living. I elected to work, pay taxes, and employ people in lieu of living on disability………and now I am to understand that none of this is relevant? I want answers. Please help us; all we want is the same standards every other professional has to abide by. If someone is willing to employ me, and has faith in me, then the State should keep its nose out of my personal business Thank you

Ric: (January 14, 2010 7:02am)

Hey GOD: Bill hr 4176 has to do with missle testing. Bill hr 3044 would have halted HVCC for 18 months, but is now a dead issue. Although it has 123 co-sponsors, Barney Frank has kept it bottled up in committee. If anyone has any access to Barney, give him a call and let him know that HVCC is a very expensive tax on Home Buyers that has also caused much of the downturn in home prices. He won't care that it is putting the good experienced appraisers out of business, but he will care if he can be convinced he is driving his constituents home prices down by his failing to halt HVCC.

kc broker: (January 14, 2010 6:54am)

what is the bill 4176 with the HVCC moratorium please explain and when do you think it will go in to effect

Andy Brown!: (January 14, 2010 6:52am)

Mortgage Revolution and the World Domination session in ATL were Amazing! It was also a treat meeting both of you and getting to know you. See you at the next one

DAG: (January 14, 2010 6:51am)

Brian, I think you are missing the point that the AMC provided appraisals are horrible. The way I read mwoojones is that the problem is the AMC charging $400 while give the appraiser very little, which in turn ends up being a worthless piece of crap. I don't know how any appraiser can make a living on $200/pop on their work. Well, except those who had NO business prior to the dysfunction of HVCC.

brian tbws: (January 14, 2010 6:44am)

Hi Godlike I cant believe you didnt show up! Frank I'll see you in a few minutes. go go gadget car!!!

DAG: (January 14, 2010 6:43am)

With all due respect to the REAL appraisers out there the appraisers who've done the work thru AMC's I've been saddled with have gotten a fair fee. They are so bad the should be FREE! We need to get the appraisers back a full fee when brokers can order them from reputable, qualified, seasoned appraisers.

Frank Garay: (January 14, 2010 6:42am)

Brian... I'm heading to the office in 10 mins..

GODLIKE: (January 14, 2010 6:41am)

I can't believe you didn't call me while you were in Dallas. We coulda had some fun!

brian tbws: (January 14, 2010 6:37am)

mwoojones. you guys arnt gonna make any friends by complaining about your compensation while taking shots at others income. just a thought

brian tbws: (January 14, 2010 6:35am)

Mark Green. Your charity is always appreciated and it was great partying with you in atl. You guys were great. I'm looking forward to working with you on the sf event. UGC is a theme that we're all looking forward to furthering.

mwoojones: (January 14, 2010 6:33am)

We just had a transaction fall apart due to a low HVCC appraisal. Purchase price was $167,000 and appraised value was $160,000.00. Appraiser stated she had no contract when in fact she did. Didn't bother to call the realtor either. The kicker...the purchase price was determined from a prior HVCC conventional appraisal with value of $167,000.00! On another transaction, we got $50,000.00 difference in value from one appraiser to the next! When I pulled the invoice on the first appraisal, the cost to buyer was $400; appraisal company was paid $250.00 out of that fee. Maybe appraisers should be paid what they're worth; like originators(haha)

Mark Green: (January 14, 2010 6:30am)

Brian - if you throw a party in SF, I'll bring the whole crew to help out with user generated content. Ocean.

brian tbws: (January 14, 2010 6:28am)

god.. it has not been passed and agreed upon by both the house and senate yet. hopefully soon though

God: (January 14, 2010 6:27am)

When does bill 4176 with the HVCC moratorium go into effect?

Mortge Broker Appraiser R.E. Agent: (January 14, 2010 6:14am)

Brian & Frank, you're always entertaining. Keep up the good work. I hope to make it to an event soon. I look forward to meeting you guys. Thanks for all your help in the fight with HVCC. Appraisers owe you a debt of gratitude.

brian tbws: (January 14, 2010 6:10am)

drew. check out the sight linked to the daily today...... and participate. its great and pointing out the bs associated with amc's. it can be a great resource for you guys in the coming months.

Drew: (January 14, 2010 6:07am)

The AMC's are causing good experienced appraisers like myself to transition out of the business. I plan to leave the business this year. I wonder what will happen when all the quality appraisers are gone????

brian tbws: (January 14, 2010 6:05am)

Hey................. this is the last week for you guys to nominate the sexiest realtor, lender, appraiser, and title people. winners are linked to the daily for a month and its all just good fun so make sure you get those in. were putting the sight together right now for your voting enjoyment. its tbwssexyfest@gmail.com remember picture and contact info for your nominee

brian tbws: (January 14, 2010 6:01am)

hey guys thanks a bunch. mrev was the greatest real estate event ive ever attendend. by and for people writing loans. lots of new friends and atlanta kicked @ss. There's gonna be a sf event & im pretty sure its gonna run along side a real estate bar event. I'm totally hoping the entire atlanta crew will come north. RE Mor Broker. Yeah I drink alot of coffee but not yesterday. I'm on just a couple of hours sleep and think I might have been a bit punchy. I agree. Just watched the daily and I was a bit much.

AtlMtgGuy: (January 14, 2010 5:39am)

Great to see you guys in Atlanta at MRev. Normally don't attend 3 day conferences, but man oh man. What an event! I hope everyone that couldn't make it benefits from the videos, and definitely make a point to get to the next event. Tremendous stuff, no kidding.

Mortge Broker Appraiser R.E. Agent: (January 14, 2010 5:29am)

Brian, did you have a lot of coffee this morning?

Brother Can You Spare a Dime?: (January 14, 2010 5:28am)

BIG NEWS: BofA has announced that retail loan officers will no longer be able to collect overage, aka yield spread. This will make BofA the darlings of the regulators, set the table to get rid of ovg/ysp for everyone, and run off enough LOs to reduce BofAs exposure to the mortgage industry. No word on how this 5-15% pay cut will be reflected in executive bonuses. Headhunters - throw those folks a lifeline!

Jason Klaskin: (January 14, 2010 5:25am)

Awesome job guys!!! It was great having you at MRev and supporting the LO's out in the field and helping to get the GOOD word out about the GREAT folks in our industry. I do believe you crammed all of the 'important' things from MRev into your update today - well done!!

Biker Appraiser: (January 14, 2010 5:23am)

So glad to hear that someone is actually noticing that it is not the APPRAISER who is making all the big bucks!! HVCC has given me the honor of taking at least a 40% pay cut after being in the business for 24 years....let's see how many other professions have that honor. A speaker at a women's mortgage (or is it real estate finance now?)who was an owner of an AMC sounded "proud" that they were charging $500 for a standard appraisal and had NO PROBLEM thinking it was okay to give the appraiser $250....hmmmmm $250 a deal for a phone call...obviously I'm in the wrong line of work.

BC: (January 14, 2010 5:19am)

Our foreclosure rate is 1% or less still. Why are we getting destroyed because the governement and other lenders are incompetent? How about finding lenders like us and finding out how we do it and the consequences we are going to pay for all of these regulations being heaped upon us when we did it right the first time.

rhodyloans: (January 14, 2010 3:04am)

Hey guys. Great job as always. I won't be in my office at the time of the GFE webinar. Going to an applicant's office, good reason, huh? Will this be available again in the near future? Thanks.

Mark Green: (January 14, 2010 3:00am)

I'm ROLLIN' over here.