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Valuequestor: (February 24, 2010 12:44pm)

5pence: My friend I've been looking for an appraiser organization to put my energy into since I left AI many years ago. It took a crisis like what we are in for things to really start happening. Its been 2 years of talk and blogs. I have talked to appraisers all over the country and at conferences and summits. A big NEW appraisal group is not going to magicaly appear and save the day. But things are happening at the State level, California Coalition of Appraisal Professionals (CCAP) has sister organizations in other states. We can and will work together. Marc Savitt has NAIHP.org up and running and membership is gaining. It COULD grow to be a huge voice for us. What are you waiting for? Stop WAITING for perfection. I fear it may be too late. But I will be damned if I'm just going to lay down and die quietly. I'll go out fighting! and I'll make sure as many people as we can reach hear the truth about what is really going on in this Appraisal, Lending and Real Estate disaster. Join!

impyer: (February 23, 2010 9:50pm)

WaMu Shareholders Appointed an Equity Committee, Gain Representation in ... http://www.youtube.com/watch?v=IeXtCiU2IeA Why did FDIC closed Washington Mutual? WaMu had capital-more than for a “well-capitalized” bank -> http://bit.ly/95u6Xt WaMu did meet the rules for a "well-capitalized" bank! What does FDIC think and do? They break rules. Under FOIA, agencies are required by law to provide information within 20 days. But is doesn t say, you can read them -> http://seattle.bizjournals.com/seattle/blog/2009/12/the_fight_for_wamu_documents.html

5pence: (February 23, 2010 7:09pm)

My apologies - Goddess of Justice. In my town she was sitting down and looked ready to stand up when the scales went out of balance. I would guess to put the God of Justice to shame for not acting, lol

5pence: (February 23, 2010 6:48pm)

I always wondered what that statue of a blind woman sitting and holding a weight and measure scale, at nearly every courthouse in the nation, meant. She is called Lady Justice at most places. Now I know why and the significance. Noble

5pence: (February 23, 2010 6:36pm)

The scales of justice are always weighted in the favor of free will and democracy and that is the tolerance that allows corruption to a degree. Who will defend Lady Justice?

5pence: (February 23, 2010 6:24pm)

I don't mind some corruption - it's necessary. There is always a balance between corruption and democracy such that the scales of justice are always weighted in the favor of free will and democracy. When those scales go out of balance, blind justice (re: the statue), can feel it.

5pence: (February 23, 2010 5:43pm)

Don't blame people for searching all over, there's so many factions that want to help but those intentions are mis-aligned with what the intended want to hear. Ever hear "pick 1". We need one voice and "lobbyists" are not the way to go imo. This country is changing, incumbents are throwing in the towel because they know they're getting voted out. It's not going to be the same world of lobbyists controlling Congress and legislation. If we want to be a part of it we need to pick 1 ideal that best represents us and stick with that. The Constitution works for me. There can be no room for self-serving interests. Higher ideals are calling so throw out the old and in with the new. Sorry if it sounds like I'm pontificating, but that's just how I see things going. It will never be the same again and it's up to us to make sure in the end that corruption doesn't replace democracy

fightingback: (February 23, 2010 5:31pm)

Right on valuequester - I've joined NAIHP and CCAP as well - come on everybody and join the movement!

armchair warrior: (February 23, 2010 5:28pm)

ReggiePage: HOLD OFF THERE PARTNER you are coming off way to strong. Maybe you have work and it has been a long hard day! We wish we were working. Count your blessings.You Shut The F*** Up A** Hole. Who are you to tell us that we are riding on your dime. Put up or Shut up and call your NAMB, see what they are doing. Need to see results in writing. Nothing!!!!!!!!!

Valuequestor: (February 23, 2010 5:22pm)

JOIN the NAIHP......Duhh!!! How many times do I have to post this. Frank and Brian are already involved and have asked viewers of TBWS to join. NAIHP.....NAIHP.....NAIHP. National Association of Independent Housing Professionals. We are a PAC . the dues are only $50 per year. Marc Savitt is the president and we have an office on Pennsylvania Ave. in DC. This is a New Group that already has a presence in the Capitol. Check out NAIHP.org and JOIN. This group represents all of us that rant on this site. Put your money where your fingers and mouth are. Marc and the group have access to top notch lobbiests and he has access to the movers and shakers. Its the biggest bang for the buck I've found so far. I also just joined CCAP. California Coalition of Appraisal Professionals. I have great hopes for this group. We will be working with our brothers and siters in the other states and with NAIHP as well. Stand up and FIGHT.

Sukey: (February 23, 2010 5:22pm)

Guys, Thanks so much for coming to DC this week. I know how much it time it takes from your business and families. It was drilled into my head since childhood that "many hands make light work". You two are awesome for the industry cause. Thank you. Thank you. Thank you.

ReggiePage: (February 23, 2010 5:16pm)

to ssfranny: if you don't think that NAMB has been effective with lobbying efforts you've either been asleep or living under a rock. I'm completely sick of MLOs, brokers and other industry "professionals" that fancy themselves armchair warriors. You've been sitting on the sidelines getting the free benefit from my membership dues. Get off your asses, shut your mouth, go to NAMB's website and check out the government affairs area. Then open your checkbook and JOIN the cause. Put your money where your mouth (and finger) is and TAKE ACTION.

20YR LO: (February 23, 2010 5:14pm)

5pence I guess we are getting into semantics, yes it is true a bank does not have to use a AMC to be HVCC compliant, they can in lieu set up a appraiasal administrative department, like the bank I work for has. Again we are a small bank and on the retail side they can manage appraisals with out charging the appraiser any fees. But I have heard on the wholesale side they are having to consider using an AMC as the adminstrative cost and the time involved has increased, so they have to either hire more people(cost more money to be compliant)which would be passed on to the appraiser most likely or the borrower less likely or require the use of AMC (and we know what they do)Either way you do it, it is a cost that was not there before HVCC to delever a loan that complies to NMA/FHLMC and HVCC.My God I hate this it sounds like I'm sticking up for the big banks, I hope it is not coming across like that. Just trying to point out that either directly or indirectly this is a 3rd party expense.

Valuequestor: (February 23, 2010 5:09pm)

sheraldia: There is a group of appraisers in Texas that formed last year. ATA (Association of Texas Appraisers). I met the founding members at the Appraisal Summit in Vegas this past December. They're a great group. Join them. Just Google it.

5pence: (February 23, 2010 5:09pm)

You guys need to sit down and think realistically where you can win and where you can't. Just sayin...

ssfranny: (February 23, 2010 5:05pm)

Also, I don;t think borrowers would be real happy to know that of the $450 charge for an appraisal that only $200 was going to the appraiser. I would tell every borrower you have to call the lender when done with loan and protest the AMC fee.

ssfranny: (February 23, 2010 5:03pm)

I agree with Frank and Brian heading up a lobby or PAC for LOs, appraisers and other in the industry. NAMB is a joke and they really haven;t done much of anything for their brokers in the last few years. I'd like to know where all the money that was donated to them in memberships fees went it obviously didn;t go to lobbying Congress effectively since now the banks have all the power. Heck why not get everyone who signed the HVCC petition to donate $50 to the cause that could buy some quality representation.

BuAp: (February 23, 2010 4:06pm)

I'd love to have HVCC re-written to re-include what was taken out of the final, approved copy: that lending institions could not own AMC's as they do now. By divesting, they become public (shareholder owned) where shares could be purchased by...appraisers, and voted accordingly.California Appraisers are organizing into CCAP and appears to generating great momentum to advocate for their profession.

5pence: (February 23, 2010 3:35pm)

I'm originally from the NY area, I know how things work back there. 20 yr LO, I think you bought the AMC's bull chit. It's either scare tactics with them that, you'll have to buy back loans if you don't join with them or, if you're gullible enough, a simple lie like that will do.

5pence: (February 23, 2010 3:29pm)

I was actually going to ask Frank and Brian to help me set up a pledge site to educate the public on the AG Putz. I personally think that someone that doesn't uphold the law should not be an attorney. Anyway, a pledge site for a large ad to dis-credit Putz in the public eye. Embarass him in public so that he has to answer why he backs an illegal policy and why. It may morph into a defeat Cuomo for Gov pledge site depending on the majority. Just sayin - embarass him in front of the bar and the people of NY. He'll have to answer and it will be more than us asking questions.

5pence: (February 23, 2010 3:23pm)

20yr LO - I believe know you're mistaken and misinformed. Please tell me who the investors are with FNMA - is it us? They are a private/public hybrid. Why would any outside investors bet on an AMC? Prove me wrong and provide a link to your claim that Fannie and FHLMC will only accept AMC appraisals.

Deedie: (February 23, 2010 3:12pm)

OOPS! Okay. You know I thought we were furthest form being political. My take is we just want our jobs back with NO political intervention

Deedie: (February 23, 2010 3:11pm)

Okay. You know I thought we were furthest form being political. My take is we just want our jobs back with political intervention

20YR LO: (February 23, 2010 3:11pm)

SimpleSolution and everone else I want to make it clear I do not support or agree with HVCC and AMC's. I understand what they have done to the appraisal industry. I have friends that are appraisers that I have met over my 20 years in this business. What I was trying to communicate in this short blast was, the banks pass on all 3rd party fees to the buyer,and yes regardless of what 5pence thinks this is a investor requirement to use AMC and therfore would be a 3rd party fee. Unless you are funding a portfolio loan you are selling to FNMA or FHLMC there is no one else. I am not arguing the fact that some banks have used this to increase profits to the detrement of appraisers. I work for a small bank that has its own AMC,(only so we can comply with investor rules and have a loan we can sell and do more loans) the appraiser is paid 100% of fee collected from buyer. I wish ever bank worked in this manner so all appraisers could be paid there worth. Still keeping it real.

Ancient Appraiser: (February 23, 2010 3:01pm)

Love me some Moby music ! What? I'm Ancient, not dead!

A Appraiser: (February 23, 2010 3:01pm)

Deedie: I think Ill Appraiser is right I don't think many are blogging right now. I am in CA and it's almost the end of the work day and it's getting pretty late back east. We should try agian tommorrow. I think joining forces is a great idea Ill Appraiser. I think Think Big Work Small would make for a great forum for the different chapters to communicate. We have to all admit Frank and Brian are in the forefront and it's important they have to keep moving forward. Again they have to say if they are in or not.

CCAP: (February 23, 2010 2:55pm)

Thanks Ezradams and ILL Appraiser - the coalitions are spreading - California most recently, but the response is great! Join us - any of us. We need advocacy more than ever!

KILL HVCC Steve: (February 23, 2010 2:55pm)

A Big Thanks to all who have donated to the KILL HVCC Legal Fund up to last Friday!! Unfortunately, Google checkout, who was processing the donations have frozen the account because Buy.com who runs Google Checkout services said that because we were having a petition signed we were a political organization, and needed to be registered as a PAC. All who have donated so far please check you CC statements for refunds, and PLEASE use the new Pay-Pay Button to Donate. (same link, different landing button) Who needed more politics? We are in filling out the paper work to be an official Kill HVCC PAC, but under Federal law do not have to be one until we have collected over $1,000 toward the KILL HVCC Legal Fund. http://www.ipetitions.com/petition/kill_hvcc/

ILL Appraiser: (February 23, 2010 2:51pm)

I'll help, although I thoroughly support ICAP - Illinois Coalition of Appraisal Professionals. They are doing some great things and it is only $50/yr membership. Ask again in the morning. More people blogging here then.

Ezradams: (February 23, 2010 2:50pm)

This is an open invitation to the California Coalition, the Illinois Coalition, and any other group of organized appraisers to contact me. I'm leading the group in New Jersey....we need to start working in concert. Maybe we can to pool our resources to become more effective. No egos here.....just a call to unite and help all appraisers! Call me. Dan Drelich (856) 216-7771

Deedie: (February 23, 2010 2:46pm)

Cluelessdad and A Appraiser are we the only ones that think this is what we have been waiting for all along. It was right under our noses the whole time we have been whining. So simple, I guess that is why no one thought about it sooner. How about EVERYONE? Frank and Brian?

A Appraiser: (February 23, 2010 2:40pm)

WHO WOULD BACK FRANK AND BRAIN FINANCIALLY WITH A MEMBERSHIP OR DONATION SO THEY CAN CONTINUE AND FURTHER THEIR WORK?? LETS HEAR IT PEOPLE!!!

A Appraiser: (February 23, 2010 2:29pm)

Looking forward to you responce Brian and Frank!!

clulessdad: (February 23, 2010 2:28pm)

Brian, You guys are doing more for this industry, both appraisers and LO's, than anyone in the country. 120,000 signatures worth. Your lack of ego and humorous reporting have banded us all together. I will bet that if you guys created a fund and asked the viewers to contribute to you to help benefit our cause, I for one would contribute.

deedie: (February 23, 2010 2:26pm)

A Appraiser. With you all the way! I am so broke I can't risk putting any money anywhere unless I know it is a sure thing. We already have a good audience. What about it Brian and Frank? !!!

A Appraiser: (February 23, 2010 2:20pm)

Thats what I'm talking about Deedie. Why join an organization to see it not go anywhere or find-out these are not the people you want to involved with. These guys have proven they are real and want change for us in the trenchs.

A Appraiser: (February 23, 2010 2:17pm)

And you have the forum setting to make views and points heard easily.

Lil behind: (February 23, 2010 2:17pm)

How can WellsFargo say that FHA is the one that won't let me get a loan mod after I already made 3 payments in a row as asked for. And now I should reaply for a new mod. Is this BS

deedie: (February 23, 2010 2:14pm)

A Appraiser. What a novel and wonderful idea. I'm in. At least we know that they are real people and not some dimwit politicians.

Deedie: (February 23, 2010 2:09pm)

Brian and Frank is there any way to get an email list for all of these clowns? You could send them the TBWS video every morning.

A Appraiser: (February 23, 2010 2:05pm)

Brian: Why don't we band together, with you and Frank heading up an organization. You guys are most of the way there. Instead of us appraisers LO's and other viewers scrammble to find an organization we can join or start in hopes to make a difference. Why don't we financialy back you guys with a membership fee. Start an organization spun off Think Big Work Small viewers. You guys have rattled more cages than anyone. I don't want to see money stop you guys from continuing your work. You guys have certainly gained my respect and trust.

DAG: (February 23, 2010 1:55pm)

From my very small world (because I'm a small broker) there is no round robin. With the few appraisals I've had more of them have gone to The Wm Fall Group than anyone else. None have gone to anyone I've heard of in my 13 yrs in the business. None have gone to the guys I usually would use (because their fees are not low enough). And since all my loans are conventional, no where on the HUD does it say the appraisal fee is split. Always puzzles me how they get away with that.

ILL Appraiser: (February 23, 2010 1:51pm)

I just spoke with Frank at HUD's Atlanta office and he says that as long as appraisers will accept $200 fees, that is what they will get. I mentioned quality, how some AMC's got their appraisers because they couldn't get work elsewhere, and other issues but he didn't care. He emphasized that lenders weren't required to go through AMC's they just had to have a separate person to order appraisals.

joecolorado: (February 23, 2010 1:37pm)

I know that politics is a slow business,but for crying out loud,the industries were sideswiped by HVCC and GFE's quick enough,so how about getting these sharks to react in the same manner and speed?What does it take to get these guys to realize how bad it is out here at grass roots level?are they even aware of how desperate the situation is in some cases?

joecolorado: (February 23, 2010 1:32pm)

Brian-If you didnt get hoodwinked by Cuomo I would be surprised as he has hoodwinked ALL of America.Secondly the NAMB videos all say basically the same thing,Its a complicated business and it'll take time to address the issues,which is unfortunate as some of us dont have that luxury.I did however notice that no one said the matters dicussed would be rectified. mucky mucks dont want to rock the boat as the banks may be pulling the strings,maybe the NAMB's hands are tied,who knows?but the future looks grim in any event and dire for some.We need someone with a set of Nads to give us some indication from the mucky mucks that they are aware,good appraisers and good brokers are leaving the industry in droves and they are going to do something about it and to speak about it on record.

MtgGuy: (February 23, 2010 1:31pm)

Brian, Thanks for your reply, please understand that in no way was I criticizing your efforts, I am impressed and amazed at what you have been able to accomplish so far, I am also not implying you are easily impressed. I am suggesting that two guys from CA have been welcomed in the front door by way of exiting the back door by a very slick and professional politician. Maybe we should revisit the efforts, and progress you had made with the other politicians, and who ever else do you think might have sway over Cuomo or the HVCC from another angle? Just thinking outloud and grateful for you guys stepping up and making more waves than it sometimes appears our association(s) do. Thanks again

sheraldia: (February 23, 2010 1:25pm)

Mtg Guy: How do your borrowers generally respond to this information? I must have missed where borrowers thoughts were posted. Sometimes I'm a little slow.

brian tbws: (February 23, 2010 1:16pm)

Secondly. I am going to go down here and tell the president of NAMB and the treasurer about your problems you've had. From my vantage point, I think NAMB is disfunctional and scrambling for solutions. I also think they have made serious errors in recent days. Frank and I intend to address this, in writing the next issue of the niche report. Keep in mind, this email is going to get back to them and back to me by the time I get downstairs in a few moments. So the notion that we are easily impressed is not accurate. Our goal is to see positive change in our industry and throwing NAMB out is not an answer. We (when I say "WE" that means you guys too) need to embrace our advocates but maintain a health yet critical eye on them. Thats what we intend to do. By the way criticism of us, from you guys, is always welcome. We know when were succeeding and failing by your comments so please always keep them coming

Paul: (February 23, 2010 1:10pm)

What happened to the FHA raising the MIP upfront charge to 2.25% instead of 1.75%. Is this still going to happen and if so When?

MtgGuy: (February 23, 2010 1:09pm)

SimpleSolution: and sheraldia: We - the brokers inform the borrowers of this every time. We have also posted the borrowers experience and outrage about this on this forum. Frank and Brian even took this feedback accompanied by a petition to remove HVCC to Cuomos office and it fell on deaf ears.

Paul: (February 23, 2010 1:09pm)

What happened to the FHA raising the MIP upfront charge to 2.25% instead of 1.75%. Is this still going to happen and if so When?

brian tbws: (February 23, 2010 1:06pm)

Hi Mortgage Guy. First of all, I absolutely think we got hoodwinked by cuomo's office. I have called his office 20 times to no avail. Now I think they probably looked into our show a little more and realized the critical and sometime slanderous nature we have portrayed their boss. That may have be part of the reason they quit engaging us. Secondly, Cuomo's running for Gov. so I'm quite sure his mind is else where. So I guess here's my point. What would you have US do. Allow me to pull up our skirt a bit. We do not have a budget and a resource center outside of myself and Frank. Its very difficult for two guys in CA to take on the entire real estate industry and one of the most powerful politicians in our country. So where do we go from here? Thats the question I pose to not only you but the rest of our viewers.

sheraldia: (February 23, 2010 1:01pm)

I agree 1000% with you Simple! If borrowers start seeing how the appraisal fee is divided then we might have more power. Right now the borrower is oblivious...they just think it's for the appraisal. They don't even know what an AMC is. Much less HVCC

SimpleSolution: (February 23, 2010 12:58pm)

contd...sorry hit submit too quickly. Anyway, the only way the consumer will see this is if the AMC fee is listed seperate from the appraisal fee on the closing costs. Just a thought. Again I am not on the lending side so I don't know if this can even be done. Once enough people see this it will start to be a big problem.....

SimpleSolution: (February 23, 2010 12:55pm)

I am just wondering how well that will sit with borrowers when they see that they paid a $250 fee to order the appraisal and then the appraisal only cost $200. The borrowers need to see this.

SimpleSolution: (February 23, 2010 12:52pm)

MtgGuy-In the AMC's pockets so what I am suggesting is that fee be billed seperately from the appraisal fee so the consumer see what they are paying to the AMC's because I am pretty sure the average consumer won't be too happy in paying a $300 appraisal ordering fee. The AMC fee needs to be seperate from the appraisal fee in closing costs.

MtgGuy: (February 23, 2010 12:37pm)

sheraldia: No offence taken, good luck with the minimum wage. It's hard to rely on integrity, service and knowlege as a foundation of business in this industry, but what is one to do? change your ethics and morals and become an evangelist or poitician?

sheraldia: (February 23, 2010 12:24pm)

Mtg Guy...you are on a rant...along with the rest of us. Now, simmer down, I have minimum wage to make!

MtgGuy: (February 23, 2010 12:22pm)

To all - I was being facetious when I mentioned the round robin. That would imply a software investment to provide service. Of course they are doing business as they usted to.... As I recall didn't Cuomo sue WAMU or Wells or someone for their inhouse AMC's? Thay name sounds familiar,,, wait is that the same Cuomo who forced it down Fannie and Freddies throats? Boy, I'm on a rant today! sorry

sheraldia: (February 23, 2010 12:22pm)

Mtg Guy...I apologize...I didn't mean to offend. Just stating a fact. We started our company 16 years ago at $300 and finally got up to $350. $25 just seem to send some LO's over the edge. Even when gas was $4 a gallon we had a hard time getting anyone to budge. Some of those LO's would go to someone cheaper (and there were plenty of them). They managed to find their way back because we had them spoiled with our service, integrity and acceptance of our appraisals at almost any lender they sent it to. I know we are all in this together and there has to be an answer somewhere. Again, I didn't mean to offend.

Mtg Guy: (February 23, 2010 12:12pm)

sheraldia: Can't you hear us still whining?????? We don't want to cut your income... at all, but we do want to win our business by being competative, and since we are the presenters of the transaction, we get the "whining" from our clients on EVERY fee that is in our GFE. Whining and moving to a lower cost transaction is part of capitalism - we all get it and we all do it in our daily lives so please try not to offend

justsayin: (February 23, 2010 12:11pm)

The fact is they shouldn't take any of our fees. I am fine with AMC's as long as they take a fee above what I charge. Charge the consumer for the service, not me for doing my job. Additionally, they should actually provide a service at that. The only way we can change this is to have our voices heard collectively. Sheraldia, get some of your appraiser colleagues together - that's how you begin. California is following in the footsteps of other coalitions across the nation. Its about time.

MtgGuy: (February 23, 2010 12:08pm)

SimpleSolution: (February 23, 2010 11:55am) MtgGuy-I am not on the lending side so bare with me. So you are saying that they are charging the borrower an additional AMC fee outside of the appraisal fee that they (The AMC's) are taking half of? This may have already been covered, but the Appraisal fee is higher (150 to 300 just my guess and experience) and the Appraisers are getting paid less. Where did the additional money go?

sheraldia: (February 23, 2010 12:05pm)

They are tacking on. I've asked refi's what they paid for the appraisal and am hearing $150+- above what our normal fee used to be. Heck, appraisers have had the slowest rise in fees than anyone. Tell a loan officer you need to increase fees and they whine, hit the ceiling and find someone cheaper.

SimpleSolution: (February 23, 2010 12:02pm)

justsayin-I sent an inq. to AppraiserLoft because I just wanted to see what they said as far as what they will pay for FHA appraisals and this was their response, "Unfortunately at this time we are only accepting new appraisers that are Certified or Certified General have been specifically recruited to our panel.Please check back in late March as the application status may change. During this time please upload your documents as PDF attachment to your account.Appraisers receive 60%". So what you are saying is 100% correct that they all have their own appraisers in thei back pocket that have been "specifically recruited" as they say. I am certified but I guess I am not specific enough for them and I don't want their 60% anyway...

sheraldia: (February 23, 2010 12:00pm)

Does anyone know of any coalition in Texas?? This really must end! While we haven't had any value pressure from any of the few AMC's we do work for, we have had one that didn't like the rear photo which showed the home riddled with graffiti. Said the lender wouldn't accept it. Well, it is the back of the house...ain't gonna paint it! And why can't the AMC live off the extra $150+- that they are already tacking on??

SimpleSolution: (February 23, 2010 11:55am)

MtgGuy-I am not on the lending side so bare with me. So you are saying that they are charging the borrower an additional AMC fee outside of the appraisal fee that they (The AMC's) are taking half of?

justsayin: (February 23, 2010 11:49am)

5pence - you are right, many are not using a rotation. They have an appraiser in their back pocket just like the old days - i believe there are approx 10% of the appraisers doing 90% of the work and 90% of those are doing exactly what they are told or have fees under $200. Time to take back the industry guys. Join the coalition in your state, start one if your state doesn't have one and if your in California, join ours. We can change this - its not too late. California Coalition of Appraisal Professionals

Brownie: (February 23, 2010 11:46am)

So HUD audits required for brokers or no? I can't find anything on the HUD website. My CPA is pushing me forward to do an audit (for 10K!)

5pence: (February 23, 2010 11:41am)

We don't know they use a rotation, we don't know what they do. If skippy will underbid you they will get all the work. It's a race to the bottom. Phones been dead for weeks. FHA I'm here and cheaper than an AMC to the consumer and the consumer will get their monies worth. What? No one is listening? Something better get going soon

joecolorado: (February 23, 2010 11:33am)

MtgGuy-I think that you are correct...either way...its coming...

MtgGuy: (February 23, 2010 11:31am)

Oh by the way, Appleby's doesn't charge me $200.00 to seat me, which is tantamount to what the round robin appraisal ordering process is!

joecolorado: (February 23, 2010 11:30am)

I havent been offered $350 for ANYTHING since may last year.....well...nothing legal.Where are they getting these figures?Do they know the difference between what the ap88r GETS and what the borrower pays?

DAG: (February 23, 2010 11:30am)

twomintsinone. You have said the only thing worth saying on the HVCC subject. We need to stop jacking around. HVCC is the without a doubt the dumbest idea anyone in the world could ever conjure up. At this pace, it will expire before anyone in Washington wakes up and gives a crap. They are way too busy trying to avoid the truth that wall street is to blame. But, when you have banking giving them more money than the next 5 lobbyists combined, who the heck are they going to listen to. Easy answer.

MtgGuy: (February 23, 2010 11:29am)

SimpleSolution: They are taking it from the borrower !- they are taking it from both sides, why do you think borrowers are experiencing the outrageous increase in costs, that has been discussed?

angry appraiser: (February 23, 2010 11:29am)

wht don't we appraisers band together and refuse to do work for any AMC?? No bank can function without US!!!!

MtgGuy: (February 23, 2010 11:26am)

joecolorado: I think title is next and Realtors after that. $.02

joecolorado: (February 23, 2010 11:24am)

Valuation Review just emailed stating the average fee for an appraisal nationwide is $350.....OK...so whoever is getting my $150 of the $200 I am offered..... back off!!!!!I need ALL of the $350 to survive.....

SimpleSolution: (February 23, 2010 11:19am)

20YR LO-I understand what you are saying but why should the appraiser have to pay for the AMC fees? If that is the case add the AMC fees to the borrowers closing costs. Don't take it from the appraiser.

Libra: (February 23, 2010 11:18am)

Pegasus2005, just because she had a full state license to do what she did, doesn't mean she's any less qualified than any license higher. I know alot of Cert Res. & Gen. that don't know what there doing either. Maybe she's less experienced is what you wanted to say. I've been doing it for 18 years licensed and probably way more qualified than most with higher license. Your stereotyping everyone with a license lower than yours, as if we are all the same. You should be more open minded and not put down the same path you followed. Does sound like she didn't do her homework.

Bear in TX: (February 23, 2010 11:13am)

Has there been any word about the increase in the Upfront MIP or the reduction in Seller Concessions and when they'll take effect?

joecolorado: (February 23, 2010 11:12am)

20YR-believe me when I say this,banks dont pay for ANYTHING....ALL costs are transferred to the person raising that particular cost.No bank absorbs the "cost of business",they charge you for putting your money into their bank,they charge for getting your money out of their bank,they charge you for the use of your money if you take a loan,they charge exorbitatnt late fees,They charge a massive interest on money loaned compared to interest on your money in their bank.So please dont try and tell us that they dont have the power to obviate the amc...they OWN the system.They can pretty much do what they want.They just want ALL of the money involved in the loan transaction including the ap88al fee.Broker fees(currently being decimated) and Realtor Fees are next and Title better be watching as that industry is living on borrowed time.Banks are just greedy.............wanting it all.

5pence: (February 23, 2010 11:08am)

20 yr LO - you know not of what you speak. Banks do not have to use AMC's. If someone else picks your contractor the contractor has a vested interest in the transaction - getting paid. If you sincerely believe that AMC use is required by FNMA/FHLMC then you are part of the problem. Let me guess, an AMC told you that? hahahaaa. If you want to keep it real, know of whatst you'd speakest.

sAM sHILE: (February 23, 2010 11:02am)

The real issue here is: 1. How do we still compete on a rotation system? 2. How is it acceptable to add regulation and hurt our abilty to produce income at the same time? 3. Why are we allowing the demonizing of our industry? 4. Since most of us are ethical folks, why are we not spending more time promoting our value to the community?

5pence: (February 23, 2010 10:59am)

Wow, I'm watching CNBC talking heads talk about the Fed leaving MBS buying & how the rate nudge last week didn't affect anything. Duh, it was a .25 basis point rise that affects on bank borrowing-not interest rates. Inconsequential. But, did you notice how the market reacted? It dived. Fkn bank speculators, the same kind that drove gas up to $150 barrel. Then the "experts" went on to say who's going to be buying the MBS's when the Fed leaves-that should raise rates". Are they idiots or are they ignoring that the Fed left $4 trillion with the treasury to keep buying MBS's since no one in the world wants them. They also raised the caps on GSE purchases from the treasury to "unlimited $$$" for the next 3 yrs to keep buying them. There is no market if the government isn't buying that MBS crap. Also, they can't raise interest rates, it would kill the job & export market, housing market and make our debt more expensive. They're are either dumb or following a script. Can I vote them out too?

sick of Govt. : (February 23, 2010 10:59am)

Vicki Bott is an ex-wamu hack that was instrumental in successfully running that company into the ground and leaving thousands of shareholders holding the bag of worthless stock. It's amazing how these re-treads always surface back into positions where they pretend to "solve" the problems they almost single handedly created (Dodd, Frank, Obama, Paulson, Geithner, etc. etc.).

LSK: (February 23, 2010 10:52am)

I had heard FHA for brokers was being put off but you said it was March 1st? Which is true? If brokers are allowed to do FHA with experienced lenders this will be a BIG Boost to FHA production and brokers in general which is a great thing! We are ready to educate and get this started!

20YR LO: (February 23, 2010 10:46am)

Let me start with I hate HVCC. But I cringe when I see some of your analogies. ie someone picks your contractor or auto mechanic for you. Not the same thing unless they have a vested interest in the transaction, say if you have a loan on your vehicle and that lender required you to use a specific repair shop for your repairs. Home loans have a vested partner in the transaction, the investor, they make the guidelines. Another pet peeve with regards to the banks paying the AMC fee, like so many of you would like to see. Yes I agree that while some banks that own AMC's are making money, this is not the banks option to use AMC it is required by FNMA/FHLMC. We have to use them and it is an added cost to obtaining a loan, like any other 3rd party fee. Should the banksters be required to pay all 3rd party fee's on behalf of the borrwer. If so they would just be priced into the loan. NO I DO NOT WORK FOR A BIG BANK THAT MAKES MONEY FROM AN AMC, just keeping it real. LOL

Deedie: (February 23, 2010 10:40am)

Continued again: Looking forward to speak with you, --Sandeep Jain Cell 91-9810546003 Please feel free to call me or give me a number to call at. Please visit my presentation at http://sites.google.com/site/appraisalbackoffice/Home Customer Service is our #1 Priority. -Ours is an ethical company that stands on complete privacy & confidentiality. -We will save your $$ by working on almost 1/4th of what it would cost you local. -This is purely legal because what i do is just data entry. I do not do adjustments , or anything that requires appraisal knowledge. - If you are interested but not sure if it will work for you, i can offer you a considerably lower fee for the trial period of a month or two. -The fee can be done using Paypal.

Deedie: (February 23, 2010 10:38am)

continued: for you each month whether drive by or full. You may consider the first month of job as transition period and i will charge you ony $5 per file irrespective of which plan you use. The plan could be applicable from the second month. The first file is a free sample and there will be no obligation at any point during our interaction. The plan fee is negotiable based on the amount of data entry in the report. JUST TRY MY SERVICE ! THERE IS NO HARM IN TRYING IT, YOU MAY SAY 'I SHOULD HAVE TRIED IT EARLIER!' I am sure that in long run you will be able to save your time & energy that you can put in doing the effective part of appraisals that needs your knowledge and not your time with data entry and also attract more orders from your clients as you will be able to turn them in quicker as you will save upto 2 hours on each report. Based on the no. of reports you do, you will save a huge amount of time each month. Looking forward to speak with you, --Sandeep Jain Cell 91-9810546003 Please feel free to call me or give me a number to call at. Please visit my presentation at http://sites.google.com/site/apprai

Deedie: (February 23, 2010 10:36am)

This is an email that I received this morning. It took me by surprise to say the least. Please advise: Good Day, My name is Sandeep Jain, from New Delhi, India, and I do URAR Appraisal Report Data Entry. It is done using realist/mls/inspection sheet for subject & comps. I am equipped with Wintotal, ACI & Clickforms. Just send me subject & comp data to start a new report for you. Leave the tasks like neighborhood boundaries, location maps, plat maps on me. Please note that i am working US timings and I am doing data entry for appraisers for past 7 years. You get your work done instantly, thus turn time is excellent & so is the quality. EMAIL ME at [email protected] anytime for more information on above. I would love to answer any queries. Your attention & time with this matter is much appreciated. You can go for either of the following 3 plans :- 1. Per file fee : $8 2. A Fix fee of $130 per month in which i will do 20 appraisals for you each month whether drive by or full. 3. A Fix Fee of $250 per month in which i will do 40 appraisals for you each month whether drive by or full. You may consider the first month of jo

CCAP: (February 23, 2010 10:28am)

Allison Appraiser - keep doing what you are doing, but I urge you to join CCAP - the only way our voices will be truly heard is if we use them collectively. Everyone in other states, I urge to to follow the other states - eventually I hope it will be national - we need to take this industry back and the only way to do that is ban together and be heard as one collective voice. Be proactive- the venting may help you feel better today, but tomorrow you will still be in the same position - we need to save ourselves!

twomintsinone: (February 23, 2010 10:21am)

HVCC and a middle man making money on the appraisal (AMC'S-i.e. banks).Need to go away PERIOD. AMC's have a conflict of interest no matter how you slice it and always will- due to ownership of and the trail of money. The appraisal boards need to be more accountable to their clients in each state and should have that responsibility NOT AMCS. Originators and consumers should not be made to work with someone selected randomly and with no accountability or track record of knowledge in a specific market. How would what is being discussed in DC today change any of that? Plus the AMCS (banks) are positioning themselves to become the lender and or make more money out of this by way of “consumer protection”. Negotiating on this note will not make the economic repercussions to the consumer + small business go away. The flood gates are open. All business corruption a side. If you had a construction job to be done on your property and your choice was to randomly pick a subcontractor (pay upfront) this same way-would you???DON”T FALL INTO THIS DC NEGOTIATING TRAP-NO AMCS-NO MIDDLE MAN MAKING MONEY!!BRING BACK AND PUSH FOR OPEN TRADE

ca appraiser: (February 23, 2010 10:19am)

clulessdad: Check your "breaking news" again, the article doesn't say the bill is going to reach president's desk next week, it only says a "Revised" bill might come out next week. Basically this thing could be starting from beginning almost, that's great!

5pence: (February 23, 2010 10:18am)

snets, since the GSE's are in conservatorship (bankruptcy) NAMB was told their policies can't be challenged in a court of law! lthough the HVCC was issued in part by an administrative agency of the federal government, it did not go through the Administrative Procedures Act (APA) or the Regulatory Flexibility Act (RFA) as required of rules issued by administrative agencies of the federal government. Reps. Childers (D-MS), Manzullo (R-IL), and Bachmann (R-MN) joined Congressman Gary Miller in offering the amendment to sunset the HVCC.

joecolorado: (February 23, 2010 10:14am)

My Response-LOLOLOL-....great response, wish I had the cajones to do that,but I just say NO..but I DO say it with conviction!!!!!!in future I promise I will respond with your words as they are so precise,coveys a direct meaning and a direct recommendation/method of carrying out the instruction.....LOL

snets: (February 23, 2010 10:11am)

5pence - your premise that HVCC is illegal has certainly not been tested in any courts that I'm aware of - kind of the golden rule right? (he who has the gold...)I hope they get rid of it and allow me to continue in business but I can't see it. The conduits are just not going to take the chance of the files they buy from us become unmarketable on the secondary market - it is just not going to happen - if HVCC gets sunsetted - they will just change the process to some similar model but it will most certainly not allow any form of communication between me and you - I just simply can't see it - hell we barely are allowed to even talk to underwriters these days.

My response to AMC: (February 23, 2010 10:08am)

They e-mailed me asking is I wanted to do an fha appraisal 65 miles away, my answer was simple. "Tony thanks so much for giving me this opportunity, I feel special. Even though it would be a huge honor to do business with your company, I’d much rather say TAKE YOUR $200 AND SHOVEL IT UP YOUR AS*!!"

arbrown123: (February 23, 2010 9:57am)

How about this? If HUD and big banks are so hot to find mistakes and have the little guys buy the FHA loans back, let us keep the UFMIP, and self-insure!

joecolorado: (February 23, 2010 9:54am)

Pegasus-REPORT THE APPRAISER TO THE STATE AUTHORITIES.....

5pence: (February 23, 2010 9:53am)

Thanks Ezra for keeping us up to date on what the Guild is doing. Too bad about the broker thing. No matter what happens we need Guilds! Having the full backing of the AFL/CIO and their lobbyists and lawyers (just like a union) doesn't hurt either!

Pegasus2005: (February 23, 2010 9:52am)

Bulldog--my typical FHA fee is $425...$475 if its a 203k streamline. Don't let RELS or anybody else hit our fees so that the "typical fee" becomes $200!!!

5pence: (February 23, 2010 9:50am)

It's totally wrong that agents and brokers have to hang their livelihoods on which appraiser a greedy for profit company picks for your sale. It's criminal. It's destroying not only the appraisal profession but the reputations of realtors and brokers too. It's entitlement insanity!!

Ezradams: (February 23, 2010 9:49am)

Godlike: The official (Jimmy Hoffa) buried under the goalpost at Giants Stadium was a Teamster. The Guild is not a union, it's an organization for professionals. 5Pence: I asked our National President about adding brokers as associate members but according to Guild bylaws, it's not allowed....good thought, though. Just returned from the State's monthly Appraisal Board meeting. The meeting with the Real Estate Commission regarding BPO's will be held April 20th in Trenton. More to follow on our website: www.njreaunite.com.

Pegasus2005: (February 23, 2010 9:45am)

Altho I'm a Certified Appraiser, with no control over my own appraisal business I'm returning to my roots of R E Sales. 1st sale, Citi orders appraisal from PCV Mercur, & appraisal comes in $90,000 short. They are infamous for lousy pay to appraisers, & it really showed. Appraiser was only licensed, not certified, adjustment ratios were 33% to 66% out of whack from subject, & altho each of the 2 houses on the duplex lot would easily go for $400-$450,000 individually, were updated & clean, her appraisal came in at $550,000 when the sales price is $640,000, with a $680,000 cash offer & $700,000 offer in backup position from other agents. Her comps were not comparable, some comps were really beat up with no allowances made, & altho the subject is 3200 sq ft, she used 1800 sq ft & 2200 sq ft comps. Good example of when a "comp" isn't comparable. Local L/O's should be able to develop a list based on their experience of appraiser's proven skill & competence, not on lowest fee. HVCC bites.

Hmmmmm: (February 23, 2010 9:44am)

Brian looks puffy and hungover

5pence: (February 23, 2010 9:37am)

Does that make sense snets?

bulldog: (February 23, 2010 9:32am)

So Cal Appraiser: Just told Rels that the typical fee for FHA work here was at a minimum $400 and asked for my fee list to be increased - not that I do any work for them; I just wanted to see what they'd do. My request was "denied."

5pence: (February 23, 2010 9:30am)

What will change, and really the only thing that needs to change, is that whoever funds the loan has to retain libility for that loan. Mtg Bankers, Banks et all. As it stands now there is no liability for the loans they write and they just don't care because the GSE's are mandated, with our money, to buy everything they write. When their ass is on the line for liability in the loan they make they'll demand quality and pay for it. Good bye amc model of greedy cockroaches that care about nothing but their own profit. As it stands it's legalized larceny that isn't actually legalized. It's fkn nuts

5pence: (February 23, 2010 9:23am)

Here's my point snets. The HVCC is illegal. If they want to make it legal and go through due process to ensure it protects the consumer, then I can live with it. Till then I can't, and no one with any respect for democracy and free markets should be able to either. If it's sunsetted - it means it and everything it stands for goes away.

GODLIKE: (February 23, 2010 9:20am)

It's downright embarrassing that this thing doesn't have an edit button. That's Cuh Lean not Kill Lean. It sounded right till I actually saw it in print. :(

Bear in TX: (February 23, 2010 9:17am)

Not for nothing guys, but no members of Congress go to the Library of Congress. You guys rank on the obvious targets...at least they don't demand we display the 10 Commandments in all buildings...then not know any themselves...lol

bill clinton: (February 23, 2010 9:17am)

Looks like all brokers will be put on the same level for FHA Lending...I confirmed with at least 3 lenders they are gearing up to open the door for FHA business. This will be great for the consumer and all brokers

snets: (February 23, 2010 9:16am)

5pence - I'm not being pessimistic - simply realistic - your arguments make too much sense and are right on the mark but that unfortunately is completely irrelevant - I just can't see the conduits stepping up and saying that broker seperation from appraisals is a bad thing and that this whole HVCC thing that they've created needs to be dismantled - I simply can't see it - if they make AMC's go away - there will be just another parallel process where we will have to order on a website and we will be constrained from any conversation whatsoever. I know asking your appraiser upfront for valuation is a violation but I for one think that is just silly - for years my appraiser and I discussed the files up front - she would tell me - this is nuts - there is no chance - we would go back to the client and tell them not to waste their money - sometimes they took my advice sometimes they went to another broker that was able to manipulate the data better. I slept at night

Joe: (February 23, 2010 9:16am)

How's is this crazy solution to HVCC? Correct me if I am wrong but isn't it illegal for an ORIGINATOR (yes all of them) to pressure an appraiser? Also, isn't it illegal for an appraiser to allow an originator to influence their valuation? Soooo - how about enforcing that? If originators and appraisers are threatened with the loss of a license, I will bet most of this goes away. Nevermind, that solution will not make headlines for our esteemed elected officials so it can't possibly work.

GODLIKE: (February 23, 2010 9:15am)

Us folks in Texas have known it's undervalued for years. We've also got one of the more stable economies. We've just kept it a secret so that all you furriners wouldn't flock to us and ruin the atmosphere. Also I'm guessin' that the town's name you mispronounced is Killeen (Kill Lean). It's where Fort Hood is.

Atlanta LO: (February 23, 2010 9:10am)

GODLIKE: It is the Mortgage BANKERS of GA. Destin should be in Georgia - we just did a bad job of land negotiations a couple centuries ago!

5pence: (February 23, 2010 9:07am)

heheheeeh nice job Allison! Snets, don't be so pestimistic. What's to stop correspondent lenders from picking their own appraisers? Sorry, but choosing the appraiser and communication is too vital to the process. You can see what screwing with the process has done. If homeowners knew how they were being ripped off amc's and getting a $150 appraiser for their $600 they'd be upset to put it lightly. The AMC's apply more pressure on appraisers than anyone ever did in my over 20 yrs in this biz. They're busy violating USPAP with new forms and forcing appraisers to use unsuitable comparables to make the data jive with their AVM's and trying to control the final value. They rush jobs so they can't be done properly. Light needs to be shined on their dark crooked dealings and getting rid of the HVCC will do that. AMC's are worthless in the process & that will be exposed when competition is restored. Why should a bank pay $600 for a $150 appraiser when they can find an experienced one for $450?

MtgGuy: (February 23, 2010 9:07am)

Two things: 1. I have contacted NAMB at least three times to join/pay dues to help our cause. No one from NAMB would ever return my call. Maybe you can pass this along.2. I love your show and you guys are great, so please don't take this as an insult; don't you guys think you were given the dog and pony show or at least some kind of political shuffle when you visited Cuomo? I mean come on he impressed you with presenting an Aide who frowned thoughtfully as you out lined the plight of the HVAC debaucle all the while offering platitudes to placate you until you went away..... nothing, I repeat nothing has been done, and he succesfully put the ball in your court instead of taking accountability or offering any solutions AT ALL for this mess he alone created. You and all of us have been hoodwinked by another slick politician. I hope that you respond. Best Regards, and thanks for the effort you make.

jrcappraiser: (February 23, 2010 9:03am)

The HVCC has made this business no longer fun. I feel that a middleman that charges the client more and pays appraisers less is changing the industry into a terrible business. When did the government decide to blame us for there mistakes. I personally saved many people from high sales prices with realistic values not puffery. Why do appraisers need a middleman as we are professionals with college degrees and most are honest hard working people that have family to support. We already have enough rules in place but they are not enforced.

Snets: (February 23, 2010 9:01am)

Yammer - I think you have to do it - even if HUD makes it unecessary - I believe, at least year one of this - your conduits are going to want audited financials - I don't think they are going to "lower the bar" for continued access to FHA programs.

Yammer in AZ: (February 23, 2010 8:56am)

If the FHA rule to move the net worth requirement to the lender (not the broker) is due to come out March 1st, how do I know whether to spend my $4,000 on my financial audit (which is also due March 1st)? You gotta love the timing of this.

Allison Appraiser: (February 23, 2010 8:55am)

Fraud Hotline: [email protected] also the CA OREA FINALLY has lawyered up and is actually investigating. I'm hoping all of you from CA are also writing to OREA. I have asked all my 30-year client who can't call me any more to send me any CRAPPY appraisals and I am doing free reviews, printing out the complaint form and turning them into the OREA.

Snets: (February 23, 2010 8:54am)

I hate HVCC - I hate what its done to the family of my appraiser that I've used for almost 20 years - I hate everything about it but no wholesale conduit is going to EVER allow us to order appraisals again - just my opinion - the bank LO's may get to do it again giving them another leg up on us but to answer your question, I don't think getting rid of the HVCC will change things - it may change some ordering procedure or format or something but they will NEVER allow us to return to the way we used to do things - just can't see it. Certainly wish it could be so.

5pence: (February 23, 2010 8:47am)

Snets : you don't think getting rid of the HVCC will change things? No one likes it. There is no competition for the big banks. You don't think local banks, credit unions and brokers will be all over the end of this ludicrous firewall that serves no purpose but to line the pockets of the banksters? Consumers would have choices and could even hire the appraisers. Any appraisal by a state certified appraiser should be good at any bank. I'd sincerely have to disagree. The HVCC gives banks total control, without it they lose that. Competition is good. No bank stranglehold is good. The banks will have to come around if they want business.

Joe: (February 23, 2010 8:46am)

GODLIKE - You seem to be educated on this subject. When you say the "bad" outweighs the good, are you saying that your state chapter is doing things to HURT the mortgage broker or are they just not doing anything?

clulessdad: (February 23, 2010 8:45am)

Hey Snets!-I read somewhere that appraisal fraud is up 46% YTY from Q3 08 to Q3 09. (Don't hammer me on this-I just recall seeing this headline.)If so, brokers ordering appraisals may come back. After all with all the NMLS criteria that has come out, we endanger our national licenses with some sort of manipulation of appraisers. That would be very easy to enforce, as all an appraiser would have to do, is notify the NMLS with proof of manipulation. I also don't think that the restraint of trade that has occurred with appraisers can continue with random selection. But admittedly, my heart says that direct ordering will return, but with the overwhelming evidence that brokers are endangered species, I have a feeling that Frank etal will prevail.

GODLIKE: (February 23, 2010 8:38am)

I'd love to join NAMB, but they won't let me. They say I need to join my state chapter to be able to join NAMB. Our state chapter is a joke and a waste of money. I've sent them email after email on that subject and they've simply said that's the way it has to be. I've told them that if they want my money then there has to be a way to bypass the state requirement. Obviously they don't really want our money. I helped organize and start both NAMB & our state organization so I'm not dummy when it comes to the potential benefits, but here the bad outweighs the good.

Snets: (February 23, 2010 8:35am)

They can sunset it all they want - no lender is going to allow direct ordering of appraisal again probably forever - it just isn't going to happen

clulessdad: (February 23, 2010 8:35am)

CCAP- GO! What a great idea! Keep your momentum going.

GODLIKE: (February 23, 2010 8:34am)

AFL/CIO? Now who was their leader that disappeared and is presumably buried under the foundations of a building somewhere? Having them anywhere near any of our industries scares me more than Barney Frank

GODLIKE: (February 23, 2010 8:30am)

Am I the only one to think that the GEORGIA Mortgage Brokers holding their meeting in FLORIDA is WRONG!

clulessdad: (February 23, 2010 8:28am)

Did anyone see the HUGE drop in consumer confidence? There is a groundswell going on in America with the huge disconnect between Wall St and Main St. Consumers are not buying into any recovery when they don't have a job. Almost 20% of Americans are now "under-employed." I think there will be a revolt in Nov.

clulessdad: (February 23, 2010 8:24am)

Here is some breaking news on the Congressional bill to sunset the HVCC. It may be on Obama's desk by next week. (?)http://www.cnbc.com/id/35537621

real appraiser: (February 23, 2010 8:14am)

What the "F": Maybe this AMC appraiser has so much work he/she is 10 days behind while the rest of us are not making it because HVCC took work and jobs away. But blame me and the others here who try to tell you its not our fault. I guarantee you every appraiser here would have done their best to do that job to your satisfaction. We got screwed and now you lump us in with the trash, Thanks- try blaming HVCC and Cuomo. and for the prior comment that appraiser were at best decent. I guess I could say that about any profession. It is obvious that many here want to blame us, does not make me feel like this will ever get better, many in your professions helped cause this too. But the more we blame each other, I gues you believe the faster this gets fixed, does this make any sense to you??

CCAP: (February 23, 2010 8:14am)

California Coalition of Appraisal Professionals (CCAP)are following in the footsteps of Ill,CO, AZ and a few others. We are unionizing appraisers. Email me at [email protected] or [email protected]. Our website will be live in 1-2 weeks and articles are being filed this week. Time to take back our industry. Our facebook page is up with info while we finish the website http://www.facebook.com/pages/California-Coalition-of-Appraisal-Professionals-CCAP/315273940799?v=app_2309869772 - I know many of you hate FB, but its a way to get info out while the site goes up. Join us!

skyrider: (February 23, 2010 8:11am)

To Anonymous, found out yesterday that the AFL CIO is backing the New Jersey push. From what I understand AFLCIO is have millions of members

Anonymous: (February 23, 2010 8:07am)

Thanks Skyrider, I am looking forward to more information on a Guild an association unbeknownst to me - I the old Union worker of days gone by. I have walked many a line, supported many a cause, I have seen the good and the bad but I have never experienced a total lack of regard towards a specific profession as I have as an Appraiser of Real Estate. I am positive we as Licensed Appraisers will only benefit becoming united. United We Stand does make sense!

skyrider: (February 23, 2010 7:56am)

To justfrank101, Unions for salaried employees, we are trying to start a Guild which is for independant contractors. New Jersey seems to be taking the lead on this. I spoke to an appraiser in Mass. He will be contacting me to further the discuss of starting a Guild.

joecolorado: (February 23, 2010 7:55am)

just Frank-and it wont be the last......I will also check out the site to see what is what.

justfrank101: (February 23, 2010 7:51am)

Dear Fla appraiser and any other interested party. We as Appraisers have ZERO Representation yet we pay and pay and pay to retain our professions. Please consider a UNION. I am positive you have all heard this mentioned before but we at the time were not AS SCREWED as we are presently. It is great to think “independence” is the most proper form in the Appraisal Profession but it is clearly not. We as Professional Appraisers are definitely stronger UNITED and will retain our Profession with honor rather than tucking our tails and accepting the position of an under paid prostitute. I located this web site - http://unionofrealestateappraisers.com/ - check it out – think – I know I will Thank you for sending "What the F" a response. My first thought was why did "F" wait 10 days to contact the appraiser if they were on top of their game? Pass the buck, beat the crap out of the appraiser, won't be the first time..

5pence: (February 23, 2010 7:45am)

Ezra: Maybe you should open up the Guild to brokers - they don't seem to have any representation either. Something to think about?

joecolorado: (February 23, 2010 7:44am)

Dont get me wrong,I hate that an ap88r has done this as there is NO excuse for a 10 day delay, but to generalize about ap88r IS the problem,the good ones R getting screwed by the actions of the bad ones.The amcs may be the problem as they generally take a day to respond to anything & wont renegotiate a fee.Our hands are tied,we cant call ANYBODY if there is a problem.NO ONE.We are now mandated to work totally blind...not a problem for me as I have been doing this for a while,but have you any idea how frustrating the system is for a person at the bottom of this HVCC food chain?

LivinLarge: (February 23, 2010 7:40am)

I love the stop by Elmer's office! I almost laughed myself out of my chair!

FolsomAppraiser: (February 23, 2010 7:38am)

WTF, there are factors you may not be aware of for the appraiser that "accepted" and then declined the appraisal order. Appraisers can "accept conditionally" an appraisal request, this is most often done when the ordering company is offering a very low fee and the appraiser "accepts conditionally" i.e. I will do that appraisal for x fee. I often takes the AMC (apppraisal management co) days to get back to the appraiser, the appraiser is waiting for an answer. The other reason an appraiser may decline a job is finding out it is very different assignment than was ordered and they may not have the license level to do it, or it could be more complex. Unfortunately, it's all to easy to blame the appraiser since they cannot talk to you to begin with. The frustration is on both sides. Appraisers do not like getting blamed for things beyond their control and not even be able to explain it. We are all in this together

joecolorado: (February 23, 2010 7:35am)

what the F-No excuses,but when amcs call,the ap88r's given the address,nothing else.A set fee is stated,accepting/declining is immediate-no time to dawdle as a job goes to the fastest bidder.S/He accepts the fee on spec,then may find its not as portrayed for that fee,renegotiation isn't an alternative as fees & performance R now contractual.NO way of contacting the broker as they R unknown,no way of discussing this with ANYBODY including the amc.Its a small wonder ANY appraising or sales/financing gets done with the conditions which we have 2 comply,but again ap88rs take the fall for the system.Did you try and contact the ap88r?could you have contacted the ap88r?could you have changed the ap88rs situation or resposibility for the fee offered?How could you have helped the situation?Dont just blame the ap988r as s/he was/is/and will be getting screwed by the HVCC system which was not opposed by ANY assoc or nat'l boards until they started to lose income,but again .....no excuses.

CHARLIE: (February 23, 2010 7:34am)

OH YEAH GET US SOME DIRECT E-MAIL ADDRESS SO WE CAN REALLY FLOOD THEIR COMPUTERS....

DAG: (February 23, 2010 7:32am)

NAMB, I would happily join up again, the $500 fee is too much. I joined in 07, sent an additional $150 when a call to action was introduced to fight HVCC. Then the renewal was $500. If my business was booming I'd be OK with that, but when we are all scraping by, making membership MORE affordable would have been the better judgement. Then there would be more members and more funds. By jumping the fee to $500 it is out of reach in this environment.

CHARLIE: (February 23, 2010 7:32am)

IF YOU GUYS ARE REPRESENTING US DO IT WITH COAT AND TIE...LOOK PROFESSIONAL...BECAUSE ALL OF US ARE PROFESSIONALS....

skyrider: (February 23, 2010 7:30am)

In order for our fees to get back to normal, we must stand together a stop appraising for two or more weeks maybe even a month. Yes, this will hurt any potential income for that time, but it will send a loud message to all AMC's and Lenders that we are not going to take it anymore. PAY US WHAT WERE WORTH.

DAG: (February 23, 2010 7:29am)

Evergreen - is it EVER appropriate to hold an assignment for 10 days?? Come on!

Joe Bob the Appraiser: (February 23, 2010 7:26am)

I agree With Social Appraisal Gal, they still are refusing to pay fees correctly.

Evergreenappraisers: (February 23, 2010 7:25am)

@What the "F", careful now. We can all generalize about the guy on the other side of the business. I have many, many slimy mortgage broker stories, but won't apply them to all MB's. Second, is there something odd, difficult or unusual about the house that an appraiser would turn down the assignment at the late date?

skyrider: (February 23, 2010 7:23am)

To Fla Appraiser, I'm here in South Florida also, I'm in also. Spoke, with a Mass. appraiser in reference to Guild. He will be calling me back to further the discussion. New Jersey seems to be on the right track as well as California. May be we should be next.

DISGUSTED: (February 23, 2010 7:23am)

Years ago an FHA appraisal was blindly ordered. Why can't they just go back to that old system. As to the way things are handled now on conventional loans, I am disgusted, no other word for it. These jokers need to wake up and realize this is not working. Had another one recently where the appraiser asked about 30 times according to the borrower if they wanted to ask him anything. Clearly they thought he was wanting them to give him a value. Then he proceeded to take their old appraisal, sit down at the table with it and copy info because he was too *#*@ lazy to do the work. Appraisers who are willing to work thru AMC's and take one penny less than their full pay all need to be lined up and shot.

Socal Appraisal Gal: (February 23, 2010 7:16am)

Thanks guys...what I really need is a direct email/phone number to flood the office with all the AMC's who are not paying "reasonable fees" and including our profit in their management costs. We need a direct email to Stevens and a phone number so all of us Brokers, Agents, Buyers, Sellers, Consumers and of course appraisers can flood his office with compliants. Yes we need a fruad hotline...you guys are cleaver hey try to get his cell phone....that would teach him...

Joe: (February 23, 2010 7:12am)

Your interviews of the people who sat in on the meeting with the Federal Reserve scare me tremendously. Does anyone know when the vote on the "Fed Rule" is?

Fla appraiser: (February 23, 2010 7:11am)

To "justfrank101: I agree with you, but to whom do we direct our complaints? There doesn't appear to be anyone in a position to overturn or even expose the problems this crap has caused our profession, and if our government is responsible for it, how exactly is this helping the small business man? Who are we fighting here, besides Cuomo? How do we fight this? I am ready to picket, but New York is far and costly. How about a protest in Orlando or Fort Lauderdale? I am in.

Atlanta LO: (February 23, 2010 7:11am)

Great info today! Also, I heard a rumor that TBWS (our boys) may participate in the Education Sessions at the Mortgage Bankers Association of Georgia meeting in May (in beautiful Destin Florida). Can it be true????

blue ridge broker: (February 23, 2010 7:02am)

Hi Everyone...I need some help...I listened to the video this morning and needed to know does that mean as of March 1st that all brokers do not need to renew license for FHA? This is all on the shoulders of the investor?

A Appraiser: (February 23, 2010 6:53am)

You guys are doing a great job!!! Thank you!!

What the "F": (February 23, 2010 6:47am)

Furthermore- appraisers were at best descent in the past when a mortgage LO could actually discuss business with them- now they are at best horrible.

Snets: (February 23, 2010 6:46am)

worried about the LASS system net worth requirement - it says pretty clearl $250K

What the "F": (February 23, 2010 6:45am)

Here is an example of how appraiser are held to ZERO performance standards: I ordered an appraisal thru the appropriate system, the appraiser accepted the assignment on 2/12/2010- today I come into the office only to have the same appraiser decline the appriasal. Keep in mind that this appraiser will not be held accountable for holding this assignment for 10 days moreover 10 days of a 30 day lock. He or she wasted a lot of time for me and my client on this. Why is it when I blow a deal I feel the impact directly and when you have a 3rd party to my business screw it up there are no standards in place to hold this individual accountable. Should that appraiser have to pay for at least a the 7 day extension I now have to put on the loan for this delay? In the days when an appraiser actually had to sell service this would not have been an issue- now that an appraiser is just added to a list knowing they will no one holding them accountable they do whatever.

Jason Cattell: (February 23, 2010 6:38am)

I checked with HUD and you do have to do 2009 Financial Audits. Last year though!

snets: (February 23, 2010 6:36am)

re: FHA I paid my $500 I have audited financials - I went to the LASS system to enter the data and on the last page it asks - was the $250K threshold met - well my audited financials are at $100K - I'm afraid if I enter the data they will pull my FHA number immediately - any commetns.

justfrank101: (February 23, 2010 6:27am)

Stand Up Appraisers!! H.V.C.C. Four simple letters that all appraisers have come to loathe. Implemented to save the industry's independence, it has instead been a godsend to all aspiring middlemen in America while simultaneously destroying long, established appraisal careers and businesses. The premise for HVCC was that appraisers could not resist broker pressure to inflate values and someone or something had to intervene to separate the two. Appraisal Management Companies are nothing more than Pimps and we as the Professional Appraiser are given no choice but to work for the AMC accepting less than a full fee and still being solely responsible for all liability issues. Who stands with me? To whom may we count on for legal representation? Come on People FIGHT

Sue'sBestMortgage: (February 23, 2010 6:19am)

Regarding FHA Audit.....March 1st for no audit -- for brokers --?? Does this mean we do not have to do 2009 audited financial statements and all the normal filing etc?? How about file audits?? Thanks!

Dweebster: (February 23, 2010 6:18am)

Frank and Brian . . . the vids found under the namb banner are the best info you've ever put out. Kudo's . . . very nice work! Way to highlight NAMB's efforts . . . I feel even better about being a member! SouthLoan - I understand not wanting to throw good money after bad (I held off for a long time myself, too), but NAMB is the ONLY friend we have . . . if we don't support them, our fate is sealed; it will no longer be IF we get choked off, but WHEN we do. HOWEVER, if we band together and fight, we have hope. This is a fight for your freedom to be in business for yourself . . . how bad do you want it? ? ? say it with your checkbook.

Jb1960: (February 23, 2010 6:12am)

Be vewy, vewy quiet....your too funny...lol

tonkatoy: (February 23, 2010 6:05am)

Just like GA broker what about the ysp in GA?

GA broker: (February 23, 2010 5:56am)

Frank and Brina, can you ask the mba to clarify the ysp issue in GA? Is ysp now illegal in GA as you indicated last week? thanks.

Frank: (February 23, 2010 5:55am)

Mikey - I must be in contract prior to 4/30... closed by June 30. BTW.. here at the convention.. there are rumors that it may be extended again..

Deedie: (February 23, 2010 5:54am)

Why does LivingInDC's message stay at the top of the discussion? I gauge the new messages by the last one I read.

Mikey: (February 23, 2010 5:49am)

Re the homebuyer tax credit question. IRS.Gov says the same thing: "Under the new law, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010 and close on the home by June 30, 2010. For qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 return." Does anyone have the language that states the home must CLOSE before April 30th?

Frank: (February 23, 2010 5:45am)

SouthLoan - There has been no wining and dining. Just travel and work. And actually it was NAMB that got the amendment(s) into bills that admittedly have stalled for one reason or another, to remove HVCC. In fact, those amendments still stand. We sat in their meeting last night, where all their states were represented and what we saw were a lot of mortgage brokers that truly cared about their industry and their jobs. Are they the "Good Guys".. sure they are. Their positions on all the new legislation and regulation is in our favor for sure. I'm curious, why do you think they are your enemy? I'm sure they would like to know that too. Their AMC thing, while well intended, is a risky pill to swallow and we agree with that. But overall, this is a limping association that truly DOES have the brokers best interest at heart and is fighting for it. What have you done for the industry lately?

unhappy SC mortgage broker: (February 23, 2010 5:40am)

I would join NAMB probably but in SC our association seems to do absolutly nothing and you have to join and pay them to join NAMB. Maybe there should be an option to still pay the money to NAMB who at least is "trying" to do something. Our association is a joke. We have to give money to pay some worthless people's salaries - sorry - my money is too important to waste these days!!

SouthLoan: (February 23, 2010 5:30am)

Is this the same NAMB that fought so hard(Strategic withdrawal was their forte)against HVCC? The same NAMB that you guys reported was forming an AMC? What are they fighting for? More money? Higher prices? What happened to that story? Oh, I get it now...NAMB is wining and dining you, so they are the "Good Guys", again. I guess D.C. has gotten to you, too. Too bad Barney didn't take you to lunch or you would be talking about what a wonderful and moral man he is. You have all lost credibility with me.

Frank: (February 23, 2010 5:27am)

martymtg - there may have been something on it. We do have it for a question today if we can get it in. BTW to everyone... the stuff we reported to you today was straight from the mouths of HUD/FHA per NAMB members and officers. Supposedly this is news that it yet to "hit the street". We'll see I guess!

Frank: (February 23, 2010 5:25am)

uk2k - D'oh! Never noticed that... get yer mind outta the gutter there mister..

martymtg: (February 23, 2010 5:25am)

Thanks for the update, guys. Anything on capping seller's concessions at 3%? PS....Thanks for NOT catching up with Barney Frank. Didn't want to throw up my cheerios.

uk2k: (February 23, 2010 5:17am)

You pegged it guys!!! the reason the broker has been the scapegoat for all this mess is that we are the least funded group out there. We dont have the lobby or the voice of a Mortgage Bankers Association or an NAR.

I'm scared!: (February 23, 2010 5:14am)

Could you guys remove that S.A.F.E. ACT logo? It's a bit too phallic for me.

ed: (February 23, 2010 5:09am)

Don't forget to shower after your House visit.

Frank: (February 23, 2010 4:48am)

Music is "Moby - Porcelain" I believe.

Sawzall: (February 23, 2010 4:45am)

What is the background music. Its dreamy!

RninonmtNJapp: (February 23, 2010 4:24am)

Ezradams - thnaks for that site

Chuck: (February 23, 2010 4:24am)

Appraisers.......STRIKE Make them come to you

sad. : (February 23, 2010 4:24am)

I like the format but too many incorrect stories lately.

Pipe: (February 23, 2010 4:23am)

I was a member of NAMB for years, this year no. What have they done for a conventional loan mortgage broker? Nothing. Prove me wrong I will join.

Ezradams: (February 23, 2010 3:26am)

NJ, NY, PA Appraisers: Visit www.njreaunite for schedule of meetings in North Jersey. Let's UNITE & fight the AMC's and low fees! Other topics will be discussed as well. Additional meetings will be held in early April for those closer to South Jersey. (All NJ appraisers will be receiving postcards with full scheduling info.)

Rhodyloans: (February 23, 2010 3:26am)

Great job guys!!