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Missy: (February 13, 2010 9:34am)

I think Barney Frank has been smoking too much of his newest partners POT. YEP, they found a pot garden, but I bet nothing happens to the partner. Actually Barney and his Buddy both belong in jail. I understand they can get a lot of sex in there.

AngryAppraiser: (February 04, 2010 9:41am)

Here's another linkt of the AMC job offer. Brokers! Fire Firstam! http://jobs.firstam.com/jobs/205840-Appraisal-Coordinator.aspx

AngryAppraiser: (February 04, 2010 9:39am)

Well here's proof brokers, you are getting the bottom of the barrel appraisers from AMCs. Here's a job posting for an AMC employee and their job of getting the cheapest appraisers! http://appraisersforum.com/noref.php?url=http://jobs.firstam.com/jobs/205840-Appraisal-Coordinator.aspx

AngryAppraiser: (February 04, 2010 9:39am)

Well here's proof brokers, you are getting the bottom of the barrel appraisers from AMCs. Here's a job posting for an AMC employee and their job of getting the cheapest appraisers! http://appraisersforum.com/noref.php?url=http://jobs.firstam.com/jobs/205840-Appraisal-Coordinator.aspx

AngryAppraiser: (February 04, 2010 9:39am)

Well here's proof brokers, you are getting the bottom of the barrel appraisers from AMCs. Here's a job posting for an AMC employee and their job of getting the cheapest appraisers! http://appraisersforum.com/noref.php?url=http://jobs.firstam.com/jobs/205840-Appraisal-Coordinator.aspx

Valuequestor: (February 04, 2010 12:20am)

Hey CK,...I hear that some of the NJ Appraiser Guild folks are going in with Marc Savitt and the Boyz to twist Cuomo's arm a bit. Good luck to all.

kev: (February 03, 2010 4:43pm)

Hi boys enjoy your show. There is a Utube called Hitler rants HVCC. good stuff

CornerstoneKathy: (February 03, 2010 2:02pm)

5pence..what did you do all day since you didnt blog!!

5pence: (February 03, 2010 10:03am)

Hi TBWS support : Thanks for letting us know. Have a great day!

TBWS Support: (February 03, 2010 9:56am)

Due to unforeseen circumstances there will be no new Daily today. In the mean time check out the webinar "Killin' It with GFE 2010". Openings are still available! We'll see you all tomorrow!

5pence: (February 03, 2010 8:51am)

The GSE's are private companies with a public policy mandate. They get bail out funds and not budget as they are private.

5pence: (February 03, 2010 8:48am)

No show today?

Valuequestor: (February 02, 2010 8:42pm)

If you continue to watch and follow TBWS you must have some faith in Brian and Frank and the people they have chosen to associate with. The National Association of Independent Housing Professionals (NAIHP) is a young organization But it is up and running. The the people involved are doing something...not just talking about it. Hey, we need to talk...its how things START...But these guys have been out MEETING with the people..... Cuomo, Senators, Members of Congress and the Agency Heads that will ultimately be making the decisions ending or seriously modifying the havoc caused by the HVCC. I have faith and confidence in Marc Savitt, Frank and Brian. I am backing the NAIHP and have GLADLY paid my $50. I got to see some results and ACTION before I put my money up. Lets get behind the NAIHP. This is going to spread the same way we got the HVCC Petition up to 115,000 plus signatures. Spread the word. Appraisers, LO's, Title People, Realtors, Workers in your office, Processors. SIGN UP!

5pence: (February 02, 2010 7:57pm)

"This is far from over" I hope you guys agree. That Hitler thing is hilarious! I see they used it for a lot of skits lol

Bill: (February 02, 2010 7:21pm)

Hitler says it all!!! http://www.youtube.com/watch?v=lDUpXwoj5Ck

5pence: (February 02, 2010 6:19pm)

They think we're pushovers. They take away our voice in Government investigations of what went wrong, they've taken away our voice in anything that matters, they've hijacked our appraisal organizations, they've taken our individual dignity and our careers and are busy reducing us to the lowest common denominator so they can replace us with AVM's. They know they've kept appaisers at odds with each other for years with the lenders playing one appraiser against the other for work-and we've never really organized for the benefit of our profession. All the organizations are bought out and that also helps to silence us. It's like herding cats is what they say about us & organization. Fiercely independent is what I say. We need to show them that we will be listened to and we won't take no for an answer. If they were chittin bricks over Brown winning in Mass., imagine if we can get Cuomo defeated. They'd be chitting tons of bricks & would bend over backwards to please. This is far from over.

5pence: (February 02, 2010 6:03pm)

Hi Do: There's already over 5 lawsuits going on. Do you want to contribute to those? A lot of them seem to have a good chance of winning but it's taking forever. I can't see how starting another lawsuit, unless it directly challenges the legality of the HVCC would work beyond what others are already doing. NAMB tried to challenge the HVCC and got nowhere because the GSE's are private & in bankruptcy & conservatorship (which is total bs imo). Basically they're operating outside the law and we can't seem to be able to do anything about it, thanks to Bubble Ben. I say Ben B because, I think it was Rep Miller that asked him about the HVCC, AMC's & appraisers and Ben said to contact him in private about that. He wouldn't discuss it on TV. Anybody think we're getting buried along with the truth? I do! Anyway, F & B usually have great ideas on what to do. Maybe we should see what they come up with? I like the screw Cuomo idea, imagine the shock if he loses because of us. bwahahahahahaaa

Do something....ANYTHING!!: (February 02, 2010 4:07pm)

Hey Frank & Brian....I think this guy has things figured out correctly. The following are his and my notes from you video on 01-28-10. What do you all think??Trust says: (Feb 02, 2010 01:04pm) I am willing to contribute to setting up a website that will solicit participants and eventually a legal fund to fight back. We are waiting for others to pick up the banner and fight for our right to do business and earn an honest lving. If we got 100K ppl to sign the pertition, I am sure we can get 100K people to contribute so that we can begin the earnest process of fighting this in the courts. We don't have to wait thiw is something WE can do. Heck, at $50.00 from every person who signed the pertition gives us a legal fund of $5,000,000.00 I am sure some law firm can get interested in that. we don't have to beg we can seek redress against all of them to obtain our rights to do business with who we choose and whomever chooses to do business with us as long as we and they are licensed of have

SoCalApprs2: (February 02, 2010 4:00pm)

5pence- I love your fire,your focus and your ability to articulate! Here's an example of why I do not like having to rely on AMC's for my work. I received an email from one today inviting me to "join them" because as of Feb 15th, lenders have to go to this AMC for FHA appraisers. So I start signing up, get all the way to the last page and Bamm!! Its $150.00 a year per county for me to sign up for the first county, then $250.00 for the second county, $350.00 for the 3rd, etc,etc. I am within 15 miles of the 3 counties I now cover and they want to bang me over $650.00 a year to put me on their "list"? And, I still don't get full pop for my pay? This doesn't make good business sense for an appraiser. $650.00 so I can get work? When in February of 2009 it costs me nothing? All I want is the option to continue to work independently. And all you appraisers on their lists, wait till they "bump" you off. Maybe then you'll feel your $650.00 dollars?

joecolorado: (February 02, 2010 2:57pm)

Jonathan56-make a complaint to your State board,If that appraisal gets audited by the State for ANY reason, guess whose keister is hanging out to dry?You dont owe these companies ANYTHING.You also do not have to include these comparable properties in your appraisal just because the client requests it.They employ you for your expertise,not the other way round.ITS YOUR NAME at the end of the day that is affected by a worthless appraisal and you can bet your bottom dollar the AMC isnt going to come running to your defense, but they sure as shooting will drop you from their approved appraiser list if there is a question on your report.

5pence: (February 02, 2010 2:50pm)

johnathan : that is an attempt to influence value by that amc in forcing you to use uncomparable comps. Do what you will but it is a USPAP violation. Criminals and no one to call to complain to. It sucks. Maybe complain to your state board?

jonathan56: (February 02, 2010 2:41pm)

MY RESPONSE TO SOME COMPARABLES SENT TO ME!!! 6 Pine Tree Point is in North Little Rock not Little Rock 1700 Winslow is located in Hillcrest with 4.47 Acres one of the most desired areas in town which is 7 miles away from the subject. 1809 N. Monroe is located in the Heights the most prestige area in town, is 5 miles away from the subject, and is 2890 sq/ft. I have no idea where these sales came from but they are deffinatley not comparable in any manor whatsoever. CLIENTS RESPONSE A VM COMPANY Jonathan, I do not think the Client really cares at this point what comps are used. They just want comps that have been sold in the last 6 months. They just want you to use a couple of the comps they provided. If you could add a couple of them to the report, then I think that would be sufficient for the Client. I know this is a pain but we have to keep the Client happy. WHAT GOOD ARE THESE COMPANIES?

5pence: (February 02, 2010 2:04pm)

AIREADY, raising the diminimus to $250k, going to the Ct legislative meeting to protest the Dodd/Crowley proposal because it would get rid of AMC's, testifying before Congress to regulate AMC's which will entrench them in the system because many of their members own or run AMC's. The only good thing AI has is education, the rest is totally bizarre for a supposedly non-profit organization for appraisers. They need to be investigated IMO. I really need to get this job done lol. Have a great day all!! Sun is shining

5pence: (February 02, 2010 1:57pm)

AMC appraisers don't seem to understand that in a year or 2 the fees will be so low they can't make a living at appraising. That will be about the time AVM's take over imo and the appraisal profession disappears. Now if they had any foresight they'd think, the way things are going I won't have a career or make enough money at this to survive in less than 2 years. Should I wait and find something to do then or should I do something now? Now or then what's the difference? The difference is if you do it now the AMC's roaches will starve and die out. If you wait 2 years it's quite possible we'll all get starved out. My career is being stolen by bottom of the barrel appraisers that are #1 on the AMC hit list because they're cheap like their AMC masters. Kind of a reverse darwinism where the weakest get priority in professional survival before they're knocked off lol. Crazy

joecolorado: (February 02, 2010 1:49pm)

5PENCE, Yes, but then you get supposedly reputable orgs defending the current system and promoting the destruction of all appraising and appraisers outside their own orgs. Arrogant myopic idiots.the AI and the ASA should be ashamed of themselves, but they are not.They are just out for themselves,screw everybody else. I will be dropping membership in the ASA when it comes due later this year after 22 years and I let my membership in the AI go about 5 years ago as I couldn't stand their pompous attitudes anymore.

jwhitehead56: (February 02, 2010 1:44pm)

Manufactured Homes Vanderbilt Mortgage is doing them I believe.

5pence: (February 02, 2010 1:32pm)

joe: pimps & the ho's that are doing their work are going to get worked to death or have their fees reduced to 0. I don't understand appraisers that would work so hard for so little, contributing to the destruction of their own profession by supporting a "profession" & it's employees that shouldn't exist. Make some money today & insure there's no profession tomorrow or refuse to work for slave wages & quite possibly have a better paying career tomorrow & for years to come. I know my choice. AMC's will take fees as low as they will go. I've heard $50 1004's. Can you imagine?! It's a race to the bottom with these AMC's on fees & I won't life a finger to help them destroy a profession I love (mostly). If half those idiots doing $150 1004's timed how long it takes to do one competently, they'd find they could get more flipping burgers. It's the banksters that have appraisers at each others throats for the next job that destroys our collective goal of a better profession. Banksters out!

joecolorado: (February 02, 2010 1:08pm)

an AMC offered me as many appraisals as I could handle,but wanted a discount for bulk,they offered a fee of $150 per appraisal.I told the lady calling that I dont get out of bed for $150 never mind write a report, and to please stop bugging me.If you have no pride in your product and you cant defend it,you can take a reduced fee. If you have pride in your report,take the time to do it properly,produce a credible defensible argument and estimate of value in a logical progressive manner and you complete the report in the time stipulated with the minimal amount of fuss,following the guidelines and regulations already established by the mucky mucks, there should be no reason why you would accept a lower that your typical fee.Why sell yourself short?Why give away your expertise?Why would you stop at a 50%reduction in your fee in that case,why not just give it away for free as thats basically what you are doing.

joecolorado: (February 02, 2010 12:59pm)

I dont do ANY appraisal for less than I am worth.I have been in this business long enough and have experience up the wazoo,and if someone wants that from me then they have to pay my fees.They are not exorbitant fees as I have not raised or lowered my fees in the last 29 years.I have done appraisals for $0 for low income or special circumstances(developmentally disabled services/some govt depts. get the app for zip)I am confident that when I ask for a fee,I dont haggle/bargain/kowtow or capitulate. If they can get the same appraisal for less fee,I say go ahead,I am not insulted as its a free market,but I tell them,if you come back a day later my fee increases by $100.

kc: (February 02, 2010 12:59pm)

does anybody know of a lender that is still doing manufactured loans

5pence: (February 02, 2010 12:49pm)

Trust "So to think that a lender is going to accept a borrower provided appraisal as part of that process is naive." That's why they have underwriting, remember when the banks did that?

GODLIKE: (February 02, 2010 12:47pm)

Frank and Garaaaay so you guys are the Media Directors for the new NAIHP? Tell us more, so far reading their site things seem a little weak and thin. Of course that might just be because it's new.

5pence: (February 02, 2010 12:44pm)

F & B is NAIHP affliated with the AFL/CIO? Do they use their lobbyists? Or is Marc the lobbyist? I admit it does look pretty good. They don't mention anything about what exactly their HVCC amendment proposals are. I would have to know more to join at this point. I may not like the amendments proposed as the HVCC is illegal and needs to be made legal before it's offered amending. It's a crooked policy born out of WAMU eappraiseit congress - it's an illegitimate monster born of fraud and twice as bad and ugly as it's parents in their unholy union. I mean really, negotiate with terrorists? Same thing

GODLIKE: (February 02, 2010 12:42pm)

Ameriworks I've wondered the same thing about the SAFE act. What about people being forced into lates or even bankruptcies by the economy? Does that mean it forces them out of business too when they are trying to find a way to survive?

Trust: (February 02, 2010 12:36pm)

The appraisal is done to independently certify to the bank that the property meets the collateral requiremeents of the loan. As such, this is something that the borrower is doing to prove to that this aspect of the loan application meets the loan criteria. Like the rest of the loan application process, the burden of proof is on the borrower and their payment of the appraisal fee, is done so in the fartherence of that process. So to think that a lender is going to accept a borrower provided appraisal as part of that process is naive. How many of you would take a Rolex as collateral without independently verifying from a jeweler of your selection, that the Rolex is a real Rolex with a value that supports the money being loaned? And, how many of you would pay for the jewelers opinion out of your pocket...

5pence: (February 02, 2010 12:12pm)

LOL!! 20yr MrtGuy - I just want people to understand that the banks are not the be all and end all of the loan process. The homeowner has more at stake and should realistically be the client. Think about it before fire insurance. In a fire the homeowner would lose 100% of the value of the home and the bank would be out the 80% stake they have in that home. Would the bank come looking for that 80% anyway? Could be but since the homeowner lost 100% how are they going to get it? The banks did it because of their risk tolerance and that homeowner occupied home fires are relatively rare. It's not a minority majority stockholder situation as it's not paper stock. It's a tangible reality. Owner has 100% of the value of the home and the bank buys an 80% option on it. On paper the title is in the homeowners name. 100%? I can tell I should get back to work lol

Ameriworks: (February 02, 2010 12:00pm)

Is anyone out there concerned about the SAFE Act prohibiting licensing of LOs if they have demonstrated a lack of financial responsibility by showing disreard in the management of their own financial conditions such as a pattern of seriously delinquent accounts within the past 3 years? Essentially, this means LOs' credit reports are going to determine if they can continue to be LOs. I recently heard that one state is requiring LOs to have 720 FICOs or better to continue to do business in that state. Is it just me, or can this be more damaging to independent mortgage brokers and their LOs than the HVCC has been?

20yr MrtGuy: (February 02, 2010 11:59am)

5pence: UNCLE! I give up. Best of luck to you.

5pence: (February 02, 2010 11:56am)

If they borrow 80% do they owe that 80% and own that 20% as equity? I'd say that adds up to 100%. Banks 80% Homeowner 100%

5pence: (February 02, 2010 11:55am)

Back to that menace Cuomo. Right now it's some kind of prelim it appears. Hid opponent is also democrat so there must be a run-off to see what rep he's going to run against. That give us some time, unless we want to hit him in the prelims. I know Frank and Brian are thinking of something good - anything yet guys?

20yr MrtGuy: (February 02, 2010 11:53am)

5pence: The homeowner never has 100% risk, if they borrow 80% there risk is 20%. Just some simple math.

real appraiser: (February 02, 2010 11:45am)

The only answer is all options on the table, let MTG brokers, homeowners, who ever, order the appraisal, I will agree with 5pence, let the underwriter and reviewer do their jobs. allow portability, again without the name change, if its a good report, it should stand, remove banks from owning AMC (I prefer them to be illegal, but I do not see it happening) NO AVMS, Let us all work in a true free market and investors protect themselves with the laws and rules already in place. Stop all conflicts of interest like bank staff appraisers, AMC (so called) reviewers, out of state reviewers and let mtg brokers compete with banks. All appraiser should be paid at time of inspection by borrower. I am sure there is a lot more to add by other industries, as long as its fair for the whole market and not just for the too big to fail group, I am in agreement, having said that, HVCC must go and if I have to donate money to Cuomos opposition to get my attention, so be it (he must be antihvcc to be clear

5pence: (February 02, 2010 11:44am)

20yr MrtGuy - that's where you're wrong. Think about it realistically. The homeowner has the valuable collateral the banks needs. The bank takes an option on that valuable collateral at up to 80% of value to purchase at a later date if there is a default. The bank absolutely needs this valuable collateral of the homeowners as it's real and they can loan more money with leverage. Up to 40-1 recently, but historically about 9 to 1. Don't be mislead into thinking the bank is doing anything more than buying an option (the loan paid back at interest) for the valuable collateral they need at up to 80% of market value. The homeowner always has 100% of that collateral and is at risk of losing 100% of that home. The bank, the most they can lose (in more conservative times) is 80%. Duh. ALL they're buying with their loan is an option to purchase at a later date at a discount, that's all.

5pence: (February 02, 2010 11:37am)

I'll just keep adding to this real appraiser the more you address your posts to me and try to question my character : in court 3 times, works for AMC's, doesn't like explaining things and educating the homeowners, attacks those that don't see things his way, AMC shill?, doesn't want the homeowner to be the client so that there is no pressure and you can get jobs by local reputation at full fee, misleading comments about brokers.... hmmmmmmmmmm

20yrMrtGuy: (February 02, 2010 11:34am)

5pence: Get real, are your kiddding me the borrower has 100% risk. While the home owner has a vested interest in the value of there home when they are financing, it is the investor that is taking the risk. The borrower can always say no I dont want that much money or I wont pay that much for the home, it is there choice. But to say that the home owner is the only client in the transaction is far from reality. Would you personaly loan money to anyone that came along with there own appraisal, take off your appraisers hat before answering. I have invested in the past in hard money loans, and I would never have used a borrowers appraisal. Down with AMC's. Again my 2 cents and just my opionion.

5pence: (February 02, 2010 11:31am)

The final say in the appraisal process is the bank risk underwriting, so pumping values will not clear and it makes no sense to even try. Banks will have to step up underwriting. Poor banks

5pence: (February 02, 2010 11:29am)

Look mortage dudes, the borrower/homeowner can get the appraisal first & then go where they want with it. To you if you have the best rates. Appraisals that are done by a state certified appraiser are good anywhere at any bank. Consumer friendly. You guys would have to give up your control of picking the appraiser but you can give suggestions if a consumer asks. In order for there to be no pressure on the appraiser the homeowner is the client & is the only one that can pick the appraiser. If the appraisers rep is good & they know the local market & their appraisals always fly though underwriting, why would you guys have a problem? There really won't be cozy relationships anymore with brokers & agents & appraisers. That needs to stop anyway - wouldn't you agree for your industry as a whole. What should matter most is honest valuations not hitting the numbers & that's why you mtg dudes need to back off in the process. Not saying you all do it, but enough so collusion could be a problem.

unclepappy: (February 02, 2010 11:23am)

WOW! This stuff ic crazy

real appraiser: (February 02, 2010 11:17am)

5pence:So far, you really have not said anything. Man, you really do not know what you are talking about. There are entire web sites that refute everything you say especially about full pay amc's not owned by banks, you are obviously limited by what you know. Home owners who order appraisal is a bad thing and any smart appraiser would know it, I understand brokers pushing this, they really believe it a good idea. Let lenders accept portability without changing the name of who ordered it, this works, but lenders wont do it, this is not the appraisers fault. The homeowner and pressure, you said that, I never said that anywhere. I just do not see the point, brokers will get screwed when the homeowner sends the appraisal to 20 different brokers, making 19 waste their time and the most dishonest one will get their business, making things worse for all. There is no way you have been in the business 20 years, almost everything you say is wrong. sorry, but that my opinion based on your words.

MIMortgageDude: (February 02, 2010 11:17am)

20yr MrtgGuy, I totally agree. As a LO, I have established relationships with service providers, such as appraisers, title companies, etc. that will provide quality work for the clients, these relationships have nothing to do with hitting a value, but instead are based on quality work. It sucks that I can no longer refer business to my appraiser contacts, and I have to roll the dice every time I spend a client's money since I have no idea as too who is going to do the appraisal. But until HVCC goes away, what are we supposed to do?

5pence: (February 02, 2010 11:15am)

20yr MrtGuy: Only the homeowner can pick the appraiser as they are the only ones that can be the client. If AMC's want to charge $600 for their profit and their $150 appraiser they could hardly compete with a $500 appraiser that knows their market. The AMC model would prove unprofitable and they'd disappear as their worthless contribution to the process is exposed. Sure, I can shop around for a lawyer or a dentist and consumers should be allowed to do the same. They get to pick the pest inspector, roof inspector and others - so why not the appraiser? They have a 100% stake and risk in their homes, the banks have maybe 80%?!! What right does that give them to be the client with less risk than the homeowner??!! If you've been around long enough and have a good reputation you'll get calls, every day maybe. Even those that don't have experience will get calls from shoppers. But, the deciding factor in their choices will be the best rep. Hello competition where cream can rise to the top.

SimpleSolution: (February 02, 2010 11:10am)

20yr MrtgGuy-Well put...

20yr MrtgGuy: (February 02, 2010 11:06am)

5pence: here are my concerns with the home owner ordering the appraisal. Where do they go to find a appraiser if not the LO or RE Agent, if this is the case what is the differance to them ordering it or the LO. The advantage I have over the home owner is, I can based on 20 years expierence pick the best appraiser for area and property type and past performance. What do you think will happen if they did decide to let home owners pick, I believe these same AMC's with there huge pockets will dominate the market because of there ability to market themselfs, every news publication, radio, TV and trade magazine. You would still end up workjing for them. I beleive the best solution is going back to letting the professionals (using this term loosely) pick the best appraiser. It worked for many years and could work again. My 2 cents.

5pence: (February 02, 2010 11:04am)

joe - congratulations! I hope it's full fee. I've got a tax appeal on 2 properties for 2 years I should be working on instead of chatting my little fingers off lol.

5pence: (February 02, 2010 11:01am)

I forgot to add : in court 3 times, works for AMC's, doesn't like explaining things and educating the homeowners, doesn't want the homeowner to be the client so that there is no pressure and you can get jobs by local reputation at full fee.... hmmmmmmmmmm . Nuff Said !

5pence: (February 02, 2010 10:53am)

Fannie and Freddie got $4 trillion from the Fed left on the doorstep of the Treasury on Christmas Eve so no one could complain about it. Sneaky. Do they really need a budget with unlimited Treasury and Fed support?

SimpleSolution: (February 02, 2010 10:53am)

Realtor w/ a question-That was a horrible appraisal. Where is the bracketing? An appraiser can not use three comps all smaller than the subject. If there were that many sales on the same street then I am quite sure there were model matches and larger homes that sold within the immediate neighborhood available to use. I would appeal the appraisal just based on the fact that bracketing was not used.

real appraiser: (February 02, 2010 10:50am)

5pence: I said you would skew whatever I said to try to make a point. Your argument with me is so weak that every appraiser can see you have very little knowledge of anything. Like I said, hope your reports are better supported than your comments here, AMC's have been around for 20+ years, you think there going to go away, not any time soon. I wish I could spew anything like you do and not get anything done. To think that you can wish something away shows how little you know. You like to divide people who really want change, you make us weaker as a whole, not stronger. Try not to misunderstand me like you keep doing, I am not calling you a hole you just need to stop acting like one. I guess i have sunk to your level, my apologies

5pence: (February 02, 2010 10:49am)

realtor - amc appraiser? hahahaaaa. Their inexperince is showing. They're saying the 4th bedroom is an over-improvement on that street. Did they even search the street behind the subject or even 2 street away for a 4th bedroom comp with 1,700 sf to bracket the subject's improvements? Sheesh. You get what you pay for and that probably a $150 appraiser that cost $500. I'm sorry for you. Thank Cuomo and the HVCC - where you have to hang your livelihood on an unknown and highly suspect appraiser choice by AMC. It's really unfair for anyone to have to hang their livelihood on a for profit business incharge of picking appraisers they don't know and are hired by their cheapest and fastest credo. It's a national shame

Toby: (February 02, 2010 10:43am)

Unfunded liabilities are not carried on the yearly budget. Nothing new here. Think future medicare and social security costs to get an idea. Pass it on to the kids. Retire to Costa Rica.

Obamas budget and Tony Soprano: (February 02, 2010 10:42am)

Obamas budget is like Tony Sopranos budget and the only difference is that Tony has more respect from his people. Hide what you need to and kill off anyone who argues with it. Pure and utter gangstering is the only way to describe why the GSE's Fannie and Freddie are not on there. But seriously do you people expect anything more from Obama who has the business acumen of a district manager at Mc Donalds. Capiche Polly?

5pence: (February 02, 2010 10:42am)

I can't believe I just read this at Housing Watch. The title is "Are Appraisals the new Organized Crime". They go on to state "the appraiser did 262,000 valuations for Washington Mutual over an 18 month-period and earned $50 million". A $50 million appraiser!! Wrong. It was WAMU and eappraiseit that made $50 million, not the appraiser as they state!! This really pisses me off. A somewhat reputable rag throwing out lies about appraisers. I'm sure the only monies the appraiser got was a steady flow of work at a fixed rate. That's all appraisers make, fixed rate fees. Appraisal fraud is case-by-case and not industrywide as some have portrayed!! Idiots. They should be prosecuted on a case-by-case basis as that's how the fraud occurs! Instead they condemn the whole industry for the mis-deeds of a few. So now we're all frauds??!! Unbelievable the propanganda the banks will throw out to replace us. http://www.housingwatch.com/2010/02/01/are-appraisals-the-new-organized-crime/

realtor w/ a question: (February 02, 2010 10:41am)

Hey appraisers, I have a question... A home I have under contract just apprasied 10,000 under contract price, it's a 128,000 rehabbed house, only came in at 118,000. The appraser told me they do not like the street too many forclosures, but her comps were all on the street, 4 sales in 3 months all in nice shape, but they were all 3 beds 1 bath 1200 sq. ft, ours is 4 beds 1&1/2 bath all new inside/rehabbed and 1700 sq. ft, she said our 4th bedroom does not count because homes on that st. are 3 bedroom homes. What the he.. I've never had an apprasal problem, I asked to appeal it, I sent more comps, but frankly her comps were good and showed our value right at 128,000, what can I do??? and yes 1 of the 3 bedroom homes went for 128,000, the otheres 118,000

real appraiser: (February 02, 2010 10:38am)

jonathan56:Both pay at 30 days. I have no issues with either. I prefer COD and still collect like all of you on FHA & realtor referals. Those days may be numbered. Look, My point is I hate AMC's, including points made by 5pence, like less options of clients, more pressure. 10 top AMC handing out all the work, lose one lose their whole client list. Get blacklisted for doing the right thing, same end result. I am FOR a union, but do not see it, we cant even agree on any blog about things that are absolute much less the GREY bible called USPAP with eleventykabillion advisory opinions, in case you might have a slant of your own. GET RID OF AMC's, or at least go back to the way things were and i can compete against them in a fair market, I believe all of us, even those I disagree with, would be successful as I believe most on this blog are honest. If I had a better solution I would offer, thats wahy I come to this sight. But if the AMC is here to stay, give appraisers their full fair fee

joecolorado: (February 02, 2010 10:28am)

I gotta go.....I am SOOOOO excited I have an appraisal to do.....

5pence: (February 02, 2010 10:27am)

real appraiser - are you trying to tell me that you work for amc's that keep no fees and work for free? Wow!! Let me in on that !! No, full fee is obviously a relative term for those trying to justify working for those destroying our profession bit by bit in a race to the bottom of fees. If you're getting what the AMC is getting for hiring you, you're getting full fee. Anything less and you are paying for and supporting their existance. You are becoming more and more clear on your slightly biased opinion. Dependence on AMC's is not independent is it? Lets add this up, in court 3 times, works for AMC's, doesn't want the homeowner to be the client so that there is no pressure and you get jobs by local reputation at full fee.... hmmmmmmmmmm

joecolorado: (February 02, 2010 10:26am)

UTAH-I generally have the appraisal fee I receive included in te report as we are mandated by USPAP to disclose if we are gettimng paid by an entity that is not involved in the process.....the AMC's. I have been asked to remove the sentence several times, but I always ask for the instructions from te AMC in writing with a signatory authorized to do so, from ten AMC as If I get audited by the State,I can show the State the pressure. I dont however remove ANYTHING from the submitted report.If they dont like it they need to get their own without the sentence as the Laws in Colorado demand it.

SimpleSolution: (February 02, 2010 10:26am)

Typo...sorry meant to type appraisers not appraisals...

SimpleSolution: (February 02, 2010 10:23am)

Mark-I agree. The fact of the matter is that free enterprise has been taken away from us and last time I checked it is our right. Anyone should be able to order an appraisal and appraisals need to be accountable for what they do. The people who regulate the appraisers need to do their jobs.

Utah Mortgage & Real Estate Dude: (February 02, 2010 10:22am)

Joecolorado: The state of Utah has created a new law, that all appraisals ordered through an AMC MUST DISCLOSE on the appraisal how much each party(appraiser and AMC) is receiving in compensation for the services rendered (appraisal report). So the AMC's can have that unwritten don't tell anybody rule, but Utah has created some transparency. It has caused a significant backlash, as well. Informed clients/borrowers see that they now have to pay a significantly larger amount for an appraisal and the appraiser generally gets about half. This new law, in a round about way, is helping spread the word about the pitfalls of HVCC.

jonathan56: (February 02, 2010 10:16am)

I am curious because I use to loan money as well and when someone came and borrowed $400 I would charge the $520 based on two weeks for repayment anything after that my fees went up.

Mark: (February 02, 2010 10:16am)

Simple Solution - the AMC's are definately untouchable. As I stated below, there was to be a way to report issues and as a government entity in order to deflect negative comments and to point this whole mess on the Mtg Broker, there is no avenue. This was planned. Im on the Board of our State Professional Organization and I'm trying to get the word out, trying to spread the actual information. We all will never recover until the Govt gets out of our business. When will consumers be responsible for their actions? They knew and understood their loan programs and ignorance is not excuse. Maybe instead of credit scores, we should try IQ tests!

jonathan56: (February 02, 2010 10:12am)

Real Appraiser: How long does it take you to collect that full fee your talking about from the lucky AMC's you work for.

SimpleSolution: (February 02, 2010 10:09am)

Mark-The appraiser will still be sued as the appraiser is still liable. As it stands now, you can't touch these AMC's and why any of these licensed appraisers will produce bad reports behind these AMC's is beyond me. I am still scratching my head over that. I don't deal with AMC's at all and I guess if FHA goes that way I will be completely out of business and my part time job that I have taken outside of the industry will turn into a full time job....

real appraiser: (February 02, 2010 10:06am)

To answer your question clearly, I work for 2 AMC', each pay full fees to their appraiser. So yes, I work for AMC's who pay full fees. I am sure you will try to twist that in your favor. I do not work for AMC's that due not pay full fees. Like I said, I do fine with the reduced full fee work I have, But I am lucky and want all appraisers to get the fees they deserve. I will not judge those who work for less, appraisers have kids, get sick and need to eat. I will not judge others, like you do. Some markets allow for appraisers to charge higher fees, I am lucky, other markets only allow whatever the appraisers can get. I know you think you have a point, you dont.

Mark: (February 02, 2010 10:04am)

The bottom line of the arguement is that HVCC needs to go away as well as all AMC's. Appraisers should be able to stand behind their report and if there is an issue with value, guess who gets sued - the appraiser. As a Mtg Broker, I ordered my appraisals and whatever the value was is what is was. Through my 17 years nd all of the external file audits and review appraisals ordered, I never have any issue with the appraisers report. I used firms that had been around for years - some of them have been in business for 25 years. The AMC reports suck as the assigned appraiser is from 3 counties away and has no idea of the area. I will bet that I will now have all sorts of issues when my next round of appraisal audits are completed - then who do I sue? The AMC??? you can't even get them to respond to phone calls.

joecolorado: (February 02, 2010 10:00am)

great use of the english language-sorry.

joecolorado: (February 02, 2010 9:59am)

As for AMC's asking me to pick up a check at the door,BITE ME.I would get then two checks, one for me and one for them if that was the case, and for that I charge an additional fee for sending it on to the AMC,when I see what some of these hyenas make on an appraisal,it makes my blood boil, they can afford to pay a check picker upper.

joecolorado: (February 02, 2010 9:55am)

commissions from individuals that demand explanation of the report are a part of doing the report.If you cant explain why you have done something in the report and defend it to a lay person,then you sure as shootin wont be able to defend it to a State board.If a borrower wants more information,give it to him/her after getting consent.Why do you think you get paid the big bucks?It makes the borrower aware that you have nothing to hide,creates goodwill and they realize you are willing to discuss your opinion and generally borrowers remember appraisers that are responsive, so its generally good business.good appraisers are hard to find,bad ones dont communicate with anyone.

5pence: (February 02, 2010 9:53am)

joe: I always wondered how they could call it COD when you get paid at the door from the homeowner. I guess Cash At Door (CAD) was insulting to someone? Actually, I've heard of AMC's asking the appraiser to pick up the check at the door and mail it to them. If that ever happened to me I'd take my $450 and mail them the balance lol. It's bassackwards for the client to be the bank when they have less than 100% at risk like the homeowner.

real appraiser: (February 02, 2010 9:52am)

5pence: If you collect at the door, it is a full fee, what the amc charges their client is up to them, what the homeowner pays is the standard full fee without the AMC's fee included as it is billed to their client. Sorry I did not break it down more clearly for you, this is the fair fee paid by the homeowner and collected by the appraiser, this is not the reduced fee charged by AMC. The proper fee paid to the appraiser shows up on HUD and if the AMC wants to gouge their client, the lender, who cares. Do you get it now, Does this make sense?

joecolorado: (February 02, 2010 9:48am)

most AMC's also have a clause in their contracts with the appraiser stating that appraisal fees are not to be discussed at any time with anyone.Even if you want to collect "COD" you cannot as you are not permitted by the AMC contract to discuss any fees with anyone.How will the borrowers know what to pay if they cannot discuss it?The appraisal is also for the lender not the borrower although the borrower is entitled to a copy of the report to be obtained from the lender not the appraiser.when asked I refer the borrower to the lender,if they have problems getting a copy, I contact the lender but dont give anyone a copy without WRITTEN consent from the lender.COD means "Cash On Delivery".it doesnt mean get a check at the door,it means when you drop off the appraisal you get paid at that time.if a borrower wants explanation,I get written consent from lender anabling me to discuss the app with the borrower.No write no speak,refer them back to the lender,they employed THEM not you.

5pence: (February 02, 2010 9:47am)

"I do hope your reports are better supported than your points here today". Hope all you want, I've never had to go anywhere to defend any of my appraisals in 20 years. Are you an amc appraiser? That's the question, your defense seems to point to that. Just wondering...

real appraiser: (February 02, 2010 9:43am)

5pence You are not a very good reader. You say " If the questions they're asking kept burying you" It is so sad to explain someting written clearly. A laywer will try to get you to say anything. I did not bury myself, please read correctly, your arguements are like explaining something to a child who refuses to listen, I am done with this since you can not have an adult conversation. I have not twisted your words, but it seems that this is the only way for you to feel like you can win a discussion. I do hope your reports are better supported than your points here today

5pence: (February 02, 2010 9:41am)

real appraiser : That comment was an observation and not meant as a personal insult. Your previous comments lead me to think you like the HVCC. Like this one "the arguement of who orders the appraisal is stupid since all of them, even from AMCs can be COD. If the amc collects their fee for their service from their client, whatever they chose to charge, and we collect at the door, we get paid, the client gets the report, all is fair including the appraisers fee to the homeowner." All is fair including the appraisers fee to the homeowner??!! All is fair including the reduced to the appraiser?! Hence, observation of AMC appraiser. If you want true independence the homeowner as client is the only way to go.

jonathan56: (February 02, 2010 9:35am)

If you are an appraiser and you would like to keep your job and profession you can sit here at your computer and bitch or you can get off your a** and help to form a union and or lawsuit against the people who are trying to hurt you. I will be glad to give anyone for it or against it my email address so we can stand up and begin this fight. fasttrackapp@yahoo.com I am ready.

real appraiser: (February 02, 2010 9:34am)

5pence. Your comments are pretty weak, again with the "I must be an AMC appraiser". Just because you rarely get questions in your report, does not mean you are good, maybe just in your own head. I do fine because of my reputation and I work all fields, divorce, tax, PMI, lending, value for listing, REO and everything else. I do fine because I worked hard early and was lucky to put myself in a position a long time ago to need very little finacially to survive, But my friends and those I trained who are all now certs and all other good, honest appraisers, who came in over the past several years arent as lucky. I fight for them and all those who struggle to survive because of HVCC. I know your weak when you reduce yourself to personal comments to argue your points. I used to repect your opinions, but as long as you attack, you will lose more and more respect from the readers, Its sad, to tell you the truth. You have made good points at times, and must now revisit my opinions of them

5pence: (February 02, 2010 9:29am)

The homeowners best recourse, instead of suing you, would be to get another appraisal at $600 (the fees the AMC's are charging now). How many people will want to do that? How many people will want to shop around appraisers until they get the value they need? If they pay for 10 appraisals they're out 6 grand and chances are the value they paid for will not make it through underwriting since it's a bought valuation. Money wasted. They'll want to pay for the best appraiser upfront and stick with one appraisal. Goodby AMC's, inexperienced appraisers and low fees and hello independence in a competitive market. Heck, appraisers could actually get together on things for once as there would be no real competition for that too big to fail client, as there are none.

SimpleSolution: (February 02, 2010 9:26am)

Mark-I am right there with you on that last comment... :)

Mark: (February 02, 2010 9:22am)

Per the code http://www.freddiemac.com/singlefamily/pdf/IVPI-HVCC.SampleComplaintForm.pdf this is the complaint form that is not useable. If you have a complaint, why is there no avenue? if they cannot provide it then remove the HVCC and close all the AMC's as they are just scum.

5pence: (February 02, 2010 9:20am)

real appraiser : I appreciate your experience in court. I've never had to defend an appraisal in court. If the questions they're asking kept burying you, why did you keep talking? I wouldn't assume a hold harmless clause properly written could not protect you from lawsuits. They are accepting your services with eye wide open and they should have no recourse anyway on an opinion. Hold harless clause could include that if they take you to court and lose they pay your lawyer fees and $10,000 for time and trouble. There are easy and cheap ways to make it work.

SimpleSolution: (February 02, 2010 9:19am)

5spence-The pressure doesn't bother me. I have never folded to it. Just as they move on to obtain another appraiser who will hit their numbers I move on to another broker who does honest good work.

Mark: (February 02, 2010 9:16am)

to file a complaint against an AMC you are suppose to go to www.ivpicomplaint.org - which was mandated in the "Code" and was to be up and running by November 2009. Last I checked it wasn't. Freddie has a form to complete and send to Freddie, but the form specifically states not to use the form. I have filed a grievance with My US Senator and have provided him with the information and I also filed a government complaint form

5pence: (February 02, 2010 9:15am)

No somple solutions - the homeowner is always the client in that scenario. No one else. We can only be engaged by the homeowner not agents or brokers. The homeowner will decide which appraiser is the best for them. You are opting for pressure from agents and brokers???!!! That makes no sense, sorry. Why would you want pressure? real appraiser: You are sounding like an amc appraiser. I rarely get questions about my reports. Rarely. I try to keep them self-contained - you know what that means.

real appraiser: (February 02, 2010 9:14am)

5pence: I once educated a client and he did not tell me he was a lawyer, He tried to use every point against me when he did not like his value. He purchased at peak in 2006, wanted to refi in 2007, enuff said. The more I said, the more he tried to bury me. Do not get me wrong, the report was solid and he had NO shot, But he wasted my time and it could have cost me had I made a single error that he could have used against me. If you have never been there you do not know what happens. I have had 3 lawyers try to sue me for values they did not like, proved all were frivolous defending myself, I have testified in court and see the tricks they use. Any report can be picked apart including a "harmless clause" if they can prove you made errors. Most of us can defend ourselves, but if you cant, ask how much a real estate attorney costs for a simple defense.

SimpleSolution: (February 02, 2010 9:11am)

St Pauly Girl-Never did I say that I like or support HVCC but you can put words into my mouth if you want to. All I said is that I do not support borrowers ordeing the appraisal as a solution to the HVCC and last I heard that is what Mark is presenting to Cuomo. I don't think we should be told who can and can not order business from us period. Again as citizens of the USA we should be allowed free enterprise.

DAG: (February 02, 2010 9:11am)

Do go to the NAIHP website and follow through on sending media talking points. Every day when we do this, we are doing something! Marc supports getting brokers back in the ordering process for appraisals. HVCC needs to go. I'm tired of waiting 6 to 8 weeks to close a loan. Marc is the face we need out front!

SimpleSolution: (February 02, 2010 9:06am)

5spence-I was referring to pressure from the agents or brokers the way you are saying it the agents become our clients and it again is no different than working with brokers as clients and if the agent doesn't like what we bring the value in and moves to another appraiser we will have lost all business with that agent so technically speaking it would be more than just one loss. Again, doesn't matter to me as I don't suject myself to the pressure and have no problem losing clienst behind it but I personally would rather have brokers as my clients than agents. Homeowners ordering not an option to me and I don't think too many appraisers would agree to it either.

real appraiser: (February 02, 2010 9:03am)

the arguement of who orders the appraisal is stupid since all of them, even from AMCs can be COD. If the amc collects their fee for their service from their client, whatever they chose to charge, and we collect at the door, we get paid, the client gets the report, all is fair including the appraisers fee to the homeowner. Everyone is happy. The reason there will never be a union for appraiser is that there are only 116,000 of us in the entire USA, no matter what your dues are, thats not enough financial power to influence anything, That number includes people who are active but may not be practicing and many who are cert or licensed in more than one state, like myself. We are an extremely small group, multiply that by what your dues would need to be in this political climate. I probably could not afford it. Do not get me wrong I wish we had one, but it just seems that it would not be feasible, making it impossible. The NAR is so strong cause of it size and mandatory inclusion.

St Pauly Girl: (February 02, 2010 9:01am)

I understand appraisers not wanting to be pressure; but you are the professional. the client is paying you to perform a service. Type up a template answering the typical questions most homeowner's/buyers have to reduce repeat ?'s & pressure. If clients understand the process & requirements a bit more; I'm sure the pressue will be removed.

St Pauly Girl: (February 02, 2010 8:56am)

@simple solution. What? Supporting NAIHP is to confirm you don't approve of HVCC in it's current condition. Are you enjoying HVCC? Are you an appraiser subject to HVCC and find it has increased your independence, income, and business model? If that is true, please share your secret with the other appraisers who are emerging toward going out of business for losing control of their independent business model. I'm disgusted at the squelching of free trade, capitalism and excessive fees for incompetence riding on the backs of our clients/consumers. That's why I'm supporting NAIHP. Please join in the fight to straigtening out our industry.

5pence: (February 02, 2010 8:56am)

real appraiser : I have no problem educating the public and answering questions. Why do you?

honestlending.net: (February 02, 2010 8:55am)

Do you guys do transcripts of your live shows? Just wonderin :)

5pence: (February 02, 2010 8:54am)

real appraiser : you may have a point there. What's to say we can't have a hold harmless clause they have to sign? That we can't be sued for our opinion. There's simple solutions. Simple solution - ridiculous. There is no pressure at all. You can just walk away if you feel any pressure and you've lost 1 client and 1 order. The way it's set up now there's tremendous pressure to be better for the AMC than the next appraiser. That's what keeps us at each others throats and why we can't organize to save ourselves.

G-Appraiser: (February 02, 2010 8:53am)

Does it matter who orders the appraisal? A good appraisal is a good appraisal, period. Thats what is being paid for. I know I feel less pressure with COD. Communication and education is key with lenders AND borrowers. Who cares who we deal with. Won't change my appraisal anyway.

real appraiser: (February 02, 2010 8:51am)

5pence Dont tell me I should'nt be in the business and I wont tell you your naive and ignorant. I've done this long enough to know better. You go on telling people what you like, but stay professional with your arguements, as weak as they are, Sorry but I back my statements with fact and you back yours with what, "I should not be in the business".

faison: (February 02, 2010 8:49am)

stop the bubble machine

SimpleSolution: (February 02, 2010 8:47am)

5pence-What about refi's? Again, that is not going to change anything whether agents or brokers order the appraisals. I have got more pressure for agents who have no clue as to what a comp is than brokers. Again, it is up to the appraiser not to subject themselves to the pressure. Pressure is going to be there no matter what. Education will help I think but no matter who orders the appraisal the pressure will be there. I have said this before this is the United States of America and in no other industry is a professional told who they can and can not communicate with and do business with. It is just insane to me. We are not children. If an appraiser wants to subject themselves to pressure so be it let him or her get fined and again let USPAP be part of brokers and agents licensing requirements so there is no question as to what guidelines we are to follow.

real appraiser: (February 02, 2010 8:45am)

5pence: sorry, you did not read the article too well, The reason it says it is not a good idea is that they did not order it so they CAN NOT sue. You arguement is that they should order it. This makes the judge have to listen to the arguement, which you now HAVE TO DEFEND (costly). When they sue and did not own the appraisal or were not the intended user, the judge has to throw it out, REREAD the whole article. MOST REAL ESTATE LAWYERS know this, this may have saved you on several occasions and you do not even know it. Do your research on lawsuits at the web page I showed you, you will be amazed. http://www.appraiserlawblog.com/

SunDiegoAppraiser: (February 02, 2010 8:43am)

HVCC is killing America! I do reviews of HVCC appraisals for my clients of 20 years plus so they can rebut these absurd truly worthless reports. How can the heads of Freddie Mac & Fannie Mae not be aware of all the problems with this rule they implemented. Are they not monitoring such a huge game changing rule? Any prudent company would! Save America End HVCC by any means. Maybe the head of Freddie that off'd himself was on to something. And a Amen to Jonathan56! I am beyond pissed and ready to go to war on this to save America! Watch your back Fannie Mae!

G-Appraiser: (February 02, 2010 8:43am)

I agree with 5pence, 1 owner, 1 order. Levels the playing field. COD- Brilliant! KISS-(Keep it simple stupid ). Big thanks to Mark Savitt. Mark has done alot to fight HVCC. He's earned my $50. I would also donate to Cuomos opponent. However I'd rather see my $$$ going to Unionize. We appraisers are barely scraping by.

jonathan56: (February 02, 2010 8:42am)

Simple Solution & Mark. Simple Solution hit it on the head! The borrowers do not know a good appraiser from a bad appraiser! Well if thats the case my state and im sure yours does as well has an Appraisal Board. If we really wanted to fix all of this its simple we go back to doing things the way we use to, but when you get caught doing something you shouldnt you need to lose your license for good/ever. Simple solution let or get the appraisal board do their job.

5pence: (February 02, 2010 8:41am)

real appraiser : your comments are just an excuse. You meet the homeowner, you hand them a one page from telling them of their rights and that we are federally protected entities. You have a problem with educating the homeowner/client about the appraisal? Maybe you shouldn't be in this business. Remeber, if the client is the homeowner your rep is what gets you work. If you can't be bothered explaining anything your rep will suffer. An educated client base is our best defense. They're not as stupid about things as most seem to think.

real appraiser: (February 02, 2010 8:36am)

5pence also, Anyone can order the appraisal and it still be COD. The home owner is just facilitating the process by paying at the door, but USPAP trumps state law that the person paying is the owner. All my cods were from broker ordered appraisals. Homeowner order appraisals were and are a nightmare. They all want a line by line breakdown explanation of the report, and they think they are entitled after they "pay" for it. sorry, disagree greatly that owner should order appraisal, but they should pay for it. No offense, but I can't get a 3 hour course or breakdown from anybody I pay to do something. Like I said before, it protects you from lawsuits which is the BIGGEST advantage.

5pence: (February 02, 2010 8:36am)

The idea of the homeowner as client would get rid of AMC's and skippy appraisers and low fees and would be of great benefit to the consumer. How could you not support it?

5pence: (February 02, 2010 8:34am)

real appraiser : Your link just proves my point. ie... "Should I sue the appraiser?" The short answer is "most likely, no."

SimpleSolution: (February 02, 2010 8:32am)

Thank you real appraiser. I agree. Not a good idea at all.

5pence: (February 02, 2010 8:31am)

Simple solution : That is where your rep in your area comes into play. They will want to hire the best appraiser they can find as they don't want to pay twice for an appraisal because the first one didn't pass underwriting.

real appraiser: (February 02, 2010 8:29am)

5spence: please read this as to why the home owner should not order the appraisal. http://www.appraiserlawblog.com/2010/01/should-i-sue-appraiser.html

Mark: (February 02, 2010 8:29am)

5pence - used to have the homeowner pay at the time of inspection. Was never an issue except for purchases when the borrower is not there for the appraisal inspection.

5pence: (February 02, 2010 8:29am)

How many COD's have you done. Has there ever been a frivolous lawsuit filed against you? I've done thousands and never one lawsuit or even an appraisal board hearing. No complaints.

5pence: (February 02, 2010 8:27am)

Mark : Realtor referrals? So what. How can there be pressure when it's just 1 client with 10's of thousands more out there? You lose an AMC you lose 10 banks and thousands of orders, you lose a homeowner you lose 1 client and 1 order.

real appraiser: (February 02, 2010 8:26am)

SimpleSolution: I agree with you on this, mostly because most (frivolous) lawsuits are started by homeowners. Our main protection from this is that they did not own the appraisal and were not even intended users. We still have to defend ourselves, as long as the homeowner is not the intended user, the lawsuit has no weight. I think if you explain this to him and others, they would understand. Savitt has to work with us, if not, his membership drops, but remember its a learning process, some kinks will always have to be worked out, who would you rather see at your defense, the AI, please, every member should stop paying them and shut them down. I have never and will never join AI.

SimpleSolution: (February 02, 2010 8:26am)

5pence-I do COD's all of the time but the borrowers have no idea as to what a good appraiser is and isn't. They aren't in the industry. Most people don't even know of appraisers and I can tell you that if borrowers start to order the appraisals via their uncle's fried or pointing out of the phone book the appraisal quality will get worse. The other option is the broker will just tell the borrower what appraiser to use ie. his or her regular appraiser and the communication is still there and Cuomo will know this.

G-Appraiser: (February 02, 2010 8:24am)

Jonathon56, seems we are all waiting for a legal change and have NO real leader to Unionize. I know I am on board and would volunteer my time recruiting in my area. We need organization very soon before its too late. Mr. Savitt has been a friend to the appraisal industry but is a lender still. What about our local OREA doing some enforcing of the laws and standards already in place. With time and money, come quality, not 2 out of 3.Big banks are in control of our profession. Scary times.

5pence: (February 02, 2010 8:24am)

Why would the GSE's need to be in the budget? They already have $4 trillion from the treasury to buy MBS's. They are private industries with a public mandate, always been that way. Frank should get rid of this hybrid as if they were public companies the HVCC could not have been put in place. As they are private and in bankrutpcy conservatorship Cuomo could.

faison: (February 02, 2010 8:21am)

I would contribute the 50 but I too want to know the platform. All of this stuff needs to come to a halt and let the market set itself, like a capitalistic economy is suppose to do. Do we have the stock market regulated? NO.

Mark: (February 02, 2010 8:20am)

If appraisals were ordered by the Borrower - Pros - they own it and they can go where they want. Cons - they will be referred by Realtors who will then pressure them for value (will not get any more referrals if you don't hit the number - this has never changed), Banks are big and they won't accept them anyways(they own AMC and they want the appraisers fee(the appraisal cost should have increased to cover the AMC's fee and I still think this is a violation of RESPA as they are inflating the fee and not providing the Appraisal report itself - mark-up). HVCC just needs to be buried as it really didn;t do anything except for making banks rich.

5pence: (February 02, 2010 8:19am)

Simple solution : Can you please explain to me how having the client be the homeowner is bad? Have you never done COD's?

real appraiser: (February 02, 2010 8:10am)

Anonymous: He has tried to fight HVCC before almost everybody else and has attempted to speak with Cuomo on several occasions, with more success after each visit. I paid the $50 just to help him keep fighting since I can not do it. If he does what he promises, I cant imagine a better use of my $50, If not, next year I am out. I like the notion of an Association just to stop the toxic laws created to make politicians appear that they are doing something. I also want to start a donation pledge page for those against Cuomo, if his opponent is anti- HVCC, which he would be when he sees all that money. I would think that this would also get a great deal of media attention as the $$$ grows. It would also send a message to state politicians who think they are safe due to their time in office, the Barney Franks of the world. If the individuals in each state sent small contributions to the opponents of Cuomo, Frank an alike, this would send a message that they are not as safe as they think.

SimpleSolution: (February 02, 2010 8:04am)

Before I support Mark I would like to know what he is representing in regards to solutions to the HVCC because the last I heard his solution was for appraisals to be ordered by the borrowers. Not a good idea to me.

jonathan56: (February 02, 2010 7:54am)

I am a realtor and have been an appraiser for 10 years. My father has been an appraiser for 34 years. I remember him working night and day on a type writter doing reports before computers. He built one hell of a business needless to say. This has destroyed it and I will not stop at any point and quit fighting. I will use as much money as it takes on my end to pursue this. I would like a fan base and an audiance. I need your knowledge on this subject to keep me well aware of all the possibilities.

Mark: (February 02, 2010 7:49am)

Do not pay for any gfe classes - most lenders will provide a course free of charge.

Anonymous: (February 02, 2010 7:48am)

NAIHP - not sure this is really a good choice. He set this up because he was mad that NAMB didn't re-elect him. So the $50 goes into his pocket to staret up his NAIHP and he will do nothing.

FLMTGBRKR: (February 02, 2010 7:48am)

Has anyone taken any of the online GFE classes? Were any of them worth the 40 bucks?....Calyx is charging up to $150 for their online courses.....crazy

A Appraiser: (February 02, 2010 7:43am)

Here's our chance to be heard, LETS SUPPORT HIM!!! I'm in for $50.

Houston Hill: (February 02, 2010 7:42am)

Received a call Friday from a management company needing a rush appraisal. Apparantley, they needed another appraisal because the first appraisal was to low. They were willing a pay extra if inspected on Saturday and even more if done by Monday. When I asked how much they were willing to pay they said how much do I want. Does this strike anyone strangely, like it did me? Should they be allowed to order another appraisal? Can they pay as much as they want whenever they want? The owner/borrower told me the original appraiser was from out of town, surprise. Is everything messed up or what? Houston Hill, we have a problem !

Miller 1: (February 02, 2010 7:34am)

I am planning to join the National Association of Independent Housing Professionals Its about time something opened up for legislative help. The Appraisal Institute had its hands in HVCC and is doing nothing to stop the damage to appraisers. I am sending information to over 800 emails and all of you bloggers should also spread the word.

Appraiser Jim: (February 02, 2010 7:31am)

To Nuke 'em....just saw the Hitler video. very funny, but really hits at the heart of the problem. The big question is...when does it end?

jonathan56: (February 02, 2010 7:16am)

The appraisers all over the United States of America need to form a group and file suit against Fannie & Freddie Mac for this new XML requirement. All of my appraisals contain a legal comments section that was drew up by an attorney stating all the information in the report belongs to me and is not to be used in any other manor. Like to build an AVM. An appraisal is only good for its intended user and use.

Bypas the junk: (February 02, 2010 7:02am)

Finally! A national Association where you don't have to join the useless state chapter! Pass the fat and have a lean dedicated national association to deal with issues.

mortgagelady: (February 02, 2010 6:47am)

Happy birthday Marley, and if I am not mistaken, when I googled Hank Paulson about 1 and a half years ago, did I read that he was compensated 90 million $$$$$$ over 10 years from Golden Sacks.... and I was appauled and writing my elected officials to keep him out of the first bailout decision with Bush... HMMMMMM

Nuke 'em 'til they Glow: (February 02, 2010 6:46am)

@HVCC - LOL That was good. Even Funnier is Hitlers response to the SOU - http://www.youtube.com/watch?v=_Uowk8KBuTk&

IUSEDTOMAKEALIVINGATTHIS: (February 02, 2010 6:17am)

IF CUOMO CANT SEE THE LIGHT THEN HE MUST GO. IT IS APPARENT ONLY THOSE WITH A STRONG VOICE IN WASHINGTON GET WHAT THEY WANT. AS AN APPRAISER I HAVE LOST CLIENTS I HAD FOR OVER TEN YEARS ONLY TO FIGHT FOR TABLE SCRAPS FROM THE ALL MIGHT AMC'S OF TODAY. I FEEL MORE PRESSURE TODAY THAN I EVER FELT BEFORE. BOW BEFORE THE MIGHT AMC MASTER OR BE BLACK LISTED AND BANASHED TO APPRAISER HELL. LETS SUPPORT THOSE WHOM SUPPORT US.

HVCC: (February 02, 2010 6:13am)

http://www.youtube.com/watch?v=lDUpXwoj5Ck COULDN'T HAVE DONE IT BETTER! NAILS IT RIGHT ON THE HEAD! PASS IT ALONG!

LA county appraiser: (February 02, 2010 6:10am)

Hea Guys I had to go back to work in corporate america so i chose NASA and if you dont think that the money was necessary why don't we take away satalite tv and xm radio and your tom tom. Don't forget about Google earth everyone likes to play with. The constaltation program is not about looking at stars thats the program i am on and it did not get cut because the germans hava alot of there money in it. SO how about the additional people tht might lose there jobs. You might want to rethink that. Just my input.

Just Sayin': (February 02, 2010 5:42am)

mortgagebrad--good luck on any national broadcast of any debate. why would Cuomo want the incompetence of his pet, HVCC, exploited for all to see? not good politics. best to keep pushing to have it revoked. until equity is returned to the market, the housing, mortgage, and lending industries will flounder. then again, it may EXACTLY what the government wants. why is the Fed pulling back on MBS purchases? to prevent a rate bubble (or so they say). so if the Fed can control and hold down mortgage rates, it can dictate when (or if) a housing recovery will take place.

TD Hawk: (February 02, 2010 5:39am)

Turn NASA loose on getting Toyotas to stop, then the personal flying machine. Actually, put wings on a Toyota and we're there!

mortgagebrad: (February 02, 2010 5:23am)

Brian, Happy B-day to your daughter! My daughter, Logan, is 14 today. Happy Ground hogs day as well. Both of you do a very nice job bring relevant subject matter to light. And it also doesn't hurt to inject some humor as well. I have heard from someone at NAMB that Cuomo either has ownership or sits on a board of some large AMC. Can either of you find out find out if that is true? In addition, what can we do to get Cuomo to debate HVCC on National TV?

big Mike: (February 02, 2010 5:17am)

Let's be honest with the numbers. The reason Washington is not honest is they know there number is a damn joke. Bet this year is't actually closer to 5 trillion than the 3.83 number. Any takers on that bet?

sk: (February 02, 2010 5:15am)

Guys...i was getting your daily show emailed every day without fail...then i answered the survey question about delivery of the show and now i'm not getting it at all! Was that intentional? did i do something wrong? LOL. how do i fix it? thanks!

Just Sayin': (February 02, 2010 5:12am)

I find it very interesting FNMA and FHLMC were conveniently left out of the budget as well, but I am not shocked by it since all numbers coming from any administration are skewed in its favor. Hard to tell what is fact and what is fiction coming from DC. Not an indictment on current administration, but the whole motley crew working for us. It seemed when Congress began talking about overhauling health care, 50 million people did not have insurance. Then the number changed to 36 million overnight, so I am not confident in the math abilities of anyone in DC. On to mortgages...the increase in UFMIP and MMIP are no big surprise since all other MI companies have pulled up tents and removed themselves from the game (for the most part). Only government insured programs are offering loans above 90%, so why not make hay while the sun is shining?

Valuequestor: (February 02, 2010 3:22am)

Way to go guys! Do I have zee timing or what. NAIHP is money well spent. Everyone should join. Thanks Frank and Brian.

MortgageAngel: (February 02, 2010 3:09am)

Lori: No cuts! hahaha jk peace out

MortgageAngel: (February 02, 2010 3:07am)

GOOD MORNING!!! I'm the first one to post and now cat's got my tongue. Yeh, like THAT ever happens! So Fannie's liablity isn't on the budget? What about Haiti? Have we finished paying for Katrina yet?

lori: (February 02, 2010 3:02am)

How can AMC get away with doing loans and appraisals both?? I'm spreading the word!! Happy birthday to your daughter!