Wells Fargo Spanked by Judge - 03.10.10 | Zenet Negron : First Priority Financial : Stockton, CA

tony4loans.tx: (March 11, 2010 2:55pm)

Can I get a copy of the winery backdrop picture? I moved from Concord, CA to Fort Worth, TX and guess what? There are no mountain ranges near here! LOL The last time I was there was last June and I do miss Mt. Diablo and the Napa Valley. You guys are doing a great job busting the "nuggets" of the fat cats that are taking advantage of the systems they are entrusted with. Makes one wonder what they actually taught in their college programs? Imagine the class names for the kinds of things being done to siphon money from the Federal government. Smoke and Mirrors 101, Advanced Congressional Testimony. Anyone else have any ideas?

ssfranny: (March 10, 2010 8:12pm)

You guys need to look at section 9504 where they talk about doing a study to see the effect of small business and brokers with HVCC. I want to know if they're doing a study with HVCC are they getting rid of it or not?

CornerstoneKathy: (March 10, 2010 6:06pm)

http://www.funnyordie.com/videos/f5a57185bd/funny-or-die-s-presidential-reunion

Clulessdad: (March 10, 2010 5:19pm)

Ill appraiser- I agree. We won't know any closed door agreements til the bill is signed. The only positive we have is that no one is talking about getting rid of it. Asking for God's help in times like this helps. If you look at section 4312, there are no other sections after it in the 43 series in the original HR passed. The one that is shown as the Senate version has about 4 sections after it. So I am deducing that version is what the Senate is debating now.

Ill Appraiser: (March 10, 2010 3:29pm)

Cluless-I saw that and it looked good but...pardon my cynical nature, I would like to think its still in there but the thomas site has 3 versions of hr4173. Who's to say there isn't a 4th lurking behind closed doors that has the HVCC parts removed? If I'm going to encourage someone to vote for something specific I'd like to be certain its there.

Clulessdad: (March 10, 2010 3:21pm)

Ill appraiser-you may want to ask them if Section 4312 still exists. Otherwise they don't know.

Clulessdad: (March 10, 2010 3:12pm)

Ill appraiser- look at this site it is an updated version of the House Bill that several additional sections in it from the one passed in the House. It still has the HVCC language. http://thomas.loc.gov/cgi-bin/query/F?c111:3:./temp/~c111gDjAhm:e1176046:

Ill Appraiser: (March 10, 2010 3:06pm)

same number

Clulessdad: (March 10, 2010 2:45pm)

same number or does it have a Senate #. Sorry-too late in the pm.

Clulessdad: (March 10, 2010 2:44pm)

Is the Senate Bill the same as the HR 4173?

Ill Appraiser: (March 10, 2010 2:29pm)

cia-I said I was an appraiser and called to ask if Senator Durbin would support HR4173 which includes the removal of the idiotic HVCC rule. And then I asked them to verify that it did have language in it about HVCC or Home Valuation Code of Conduct because I had heard a rumor. I assume they go into their computer and type in these words or phrases. He said he didn't find any such language. Then I emailed another source in Washington DC that contacted two other senators with the same results. His take was this. "I've spoken to 2 Senate offices, who tell me they can't find the HVCC language. It might be that they just can't find it, or it could have been stripped out. If it is out, my guess would be that Cuomo called his old pal Chuck Schumer. What most people don't know is, Schumer also had a hand in HVCC. His top legislative aid now works for Cuomo."

5pence: (March 10, 2010 2:29pm)

I called that number I just posted and when asked what organization I was with I said the AGA - which I am a member of. Anyway, a 2nd person came on the phone and said he would research it tonight and either get back to me tonight or tomorrow about Sunsetting HVCC and if it's still there. I also said to keep the consumer protection agency as stand alone or put them under the FBI or DOJ to keep them on their toes. I'll keep you posted

5pence: (March 10, 2010 2:24pm)

Call your Senator - tell them what you want. It's easy, toll free and the people that answer are nice and respectful. 866-544-7573 Office of Senate Toll Free (please call between 9am & 5pm). It connects you to your own state Senator. Link : http://capwiz.com/affil/callalert/index.tt?action=results&ca_type=callalert&alertid=14700841&content_dir=&external_id=&alert_active_taf=1

5pence: (March 10, 2010 2:16pm)

Sorry, the reform they were talking about was for aviation.

5pence: (March 10, 2010 2:12pm)

The Senate discussing the bill is live on CSPAN 2 right now. I'll let you know if I hear anything.

5pence: (March 10, 2010 2:08pm)

Upon House and Senate approval of their respective regulatory reform bills, the bills may then be referred to a conference committee to resolve any differences in both bills. Once a compromise bill is agreed upon by a conference committee, it will be sent to the President to be signed into law. In the alternative, the Senate could approve a regulatory reform bill and then send it over to the House to approve. After which the final product will be sent to the President for his signature.

ciappraiser: (March 10, 2010 2:05pm)

Ill App- what exactly should we ask? I'm in California- I'll check with my senator

5pence: (March 10, 2010 1:56pm)

This is not a horse versus car thing to prove which one is better. The horse won at first but it lost after the car evolved. Appraising is physical labor, it cant be replaced, yet. The technology isn't there and neither are the robots. Math alone will never replace physical employment and activity. If it could we wouldn't need robots for physical labor in factories. Ya just can't replace physical investigation with theories. Theories capture the end result in probability but if the basis for those theories are not grounded on perfectly known facts, it'll be wrong every time. I give it zero chance. Just being wrong once can be very costly.

CornerstoneKathy: (March 10, 2010 1:47pm)

Great so USDA just ran out of money??This message is to notify you that program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010.Once funding is exhausted, the Agency will not issue Conditional Commitments “subject to receipt of appropriated funds.” This is because it is not certain when additional funding will be available.

Ill Appraiser: (March 10, 2010 1:39pm)

A little more investigation and there are now 3 senator's offices that report no HVCC language in the HR4173 in the Senate. Something funny going on. Have you called your senator lately and asked about specific language?

5pence: (March 10, 2010 1:38pm)

The appraiser is being purposely underappreciated because everyone wants a piece of the appraiser's pie. I hear they're going to settle lawsuits by logarithms and your next wife will be picked out for you by mathematical probability and your kids will be all engineered by geneticists and mathematicians. Alos, people really don't need all the space they have. They can exist and be happy in a 8'x8' room. It's mathematically proven! Brave new world - get ready! {sarcasm}

5pence: (March 10, 2010 1:30pm)

jdonovan : It'll never happen as much as some would like it to happen - until they get robots with cameras and even then it'll be appraisers running the robots. You need someone there to see what exactly the property is. Functional inutility? Tree growing out of the living room? (yes, I saw that). Owner updates? Fires? House moved? Address matches county records? Much more. Valuations sight unseen is the height of foolishness. It's a scam some are trying to run to make money.

jdonovan: (March 10, 2010 1:11pm)

Appraisers are facing a tough road ahead. There is now a Company in New Hampshire that is offering a detailed report using math experts to determine value versus using appraisers at all. I guess if you apply industry variables for adjustments and remove any actual experience from the process this will work. It appears the banks do not want to truly know the values for reserve purposes and it is better to apply formulas that do not accurately determine value. Between the BPO and AVM you would have figured it could not get worse. Just think, no appraiser to value appraise property. This should make for some very exciting times in the future. The days of the independant appraiser appear to be numbered, and all the signatures will prove to be a waste of ink and paper. I will sign it for you guys anyway, even though I am not an appraiser. May God bless us all.

mark: (March 10, 2010 1:11pm)

5pence - I'll take them to a Senators office - I'm already on them about the HVCC and not being able to file a complaint against and AMC (it is part of the code to have a specific place to file complaints and they have not set it up yet, was suppose to be ready by Nov 2009)

5pence: (March 10, 2010 12:55pm)

Some Senator that can help arrange it? All I know is brokers and appraisers lol. I haven't done a whole lot of hanging with Senators

5pence: (March 10, 2010 12:54pm)

Get Marc to deliver them in a spectacular way (news fanfare etc) to the Senate floor while it's in session and I'll get everyone I know to join his organization. Maybe someone knows a Senator sympathetic to our cause?

5pence: (March 10, 2010 12:51pm)

Special delivery to the White House with a signed receipt for delivery and make sure the press knows. Or the Senate. Those signatures are power IMHO.

5pence: (March 10, 2010 12:48pm)

Mark - we should have sent them to Obama with fanfare. I guess it's not too late :^)

5pence: (March 10, 2010 12:37pm)

Exactly how they're going to sunset the HVCC is the big question. Will they just get rid of it or will they keep some of it. I'm sure it's an issue being discussed and rightly so. If the SAFE act is an example of how they're going to get rid of it, I'd say that's good.

5pence: (March 10, 2010 12:28pm)

Besides, you brokers can be HVCC complaint even if it remains an unspoken rule - just separate the ordering of the appraisal from the originator. You don't want your local reputations besmirched by anonymous choices by amc's of appraisers anymore, do you? Just set up a rotation list of appraisers. Easy. Besides, as dumb as our reps are they must be getting the message by now and know that change is absolutely needed. We'll see. Absolute rule by the hvcc will be gone legally. They can't enforce it if it isn't there. Just getting rid of it says it's illegal.

RealtorSteve: (March 10, 2010 12:24pm)

Hey, do they brew that hops/barley wine you're drinking in Napa Valley?

mark: (March 10, 2010 12:24pm)

5pence - don't know why we have not taken the 120,000 signatures and dropped them in the lap of each Senator to get the hvcc removed and them get those same 120,000 to tell the FRB that Mtg Brokers should still be able to receive YSP. If not, then the 120,000 is the starting point for a class action suit

5pence: (March 10, 2010 12:21pm)

I'm glad you said "may" still be the same. If they've got any sense they'd end the bank monopoly of amc's and introduce some consumer friendly brokers for competition. They are supposed to be there for consumer protection and we've got over 120k signatures that says the HVCC and the GSE's policies aren't protecting the consumer. They know they need competition

Clulessdad: (March 10, 2010 12:11pm)

5 pence & cpappraisals-Just because we as brokers can order apppraisals, doesn't mean that our wholesale channels will allow it. Many of the wholesalers do not sell to FNMA or Freddie. They sell to, guess who? BofA, Citi, and Wells! And since they own AMC's, well you can use your imagination. Even if 4173 passes, the appraisal ordering system may still be the same.

mark: (March 10, 2010 12:10pm)

Anybody know who will do a 203k streamline on an REO property? Looking for a Lender.

5pence: (March 10, 2010 12:03pm)

cpappraisals : I'll need to study up on the SAFE act but from all I've heard it's what you say.

5pence: (March 10, 2010 12:02pm)

That's another good point kathy, they treat appraisers as employees. If you've done amc work you can file irs form SS-8 honestly and truthfully and let the IRS sort it out. I know an appraiser that got shut out from their amc, sued and won and even got unemployment benefits! and you can bet the state got their due from the amc. It's a simple 2 page form. http://www.irs.gov/businesses/small/article/0,,id=99921,00.html

cpappraisals: (March 10, 2010 11:56am)

5pence-Thanks for the info. Glad to hear that Cuomo and Obama aren't buddies....let's hope he signs right away. Am I reading it right in that is says Fannie and Freddie have to accept appraisals from mortgage brokers so long as they are licensed with SAFE?

CornerstoneKathy: (March 10, 2010 11:54am)

clulessdad..I think state reps would be interested in knowing that 50% of that income tax I used to pay to my state is now being sent to other states since these big AMCs are located elsewhere and just farming the work out. If the AMCs were forced to pay their fee split appraisers as employees they would be gone. When I had others working for me on a split they were paid as employees not as independant contractors. The labor dept made sure of it through a workers comp audit.

5pence: (March 10, 2010 11:53am)

Thanks clulessdad - VERY appreciated! I posted this yesterday and they still need more calls.... Call your Senator - tell them what you want. It's easy, toll free and the people that answer are nice and respectful. 866-544-7573 Office of Senate Toll Free (please call between 9am & 5pm). It connects you to your own state Senator. Link : http://capwiz.com/affil/callalert/index.tt?action=results&ca_type=callalert&alertid=14700841&content_dir=&external_id=&alert_active_taf=1

Clulessdad: (March 10, 2010 11:46am)

5 pence-I am trying to get a face-to-face with Miller here in CA, maybe in April. I was told I could come in and talk with the CA or WA staffers anytime (they are only about 3 miles away from me in CA), but I really want to talk to Miller. I am telling them that I am part of a 120,000 group to abolish the HVCC and would like to convey many anecdotal stories about how this is "fleecing" Americans and small business owners, and how I am taking all the lowball refi appraisals back to the borrowers and having them reassess their property taxes. I don't know if I will succeed in getting a facetoface, but if I do I will ask you guys what questions/stories you want me to talk about.

5pence: (March 10, 2010 11:44am)

yeah joe, they're too cheap to pay for the MLS, they have more fun and actually make money ripping all the real data they use from us. A lot of them are title companies so the assessors data is there for them to throw in and try to influence values. Joe, you were mentioning earlier about not discussing fee - I really don't think that's a problem unless you get the whole state of appraisers involved in the fees you and friends charge. There will always be choices for someone cheaper so it's not price fixing. Did you know that some AMC's charge by the value of the home? Unbelievable

5pence: (March 10, 2010 11:39am)

This woman knows everything that happened - if you're interested : *This video explains how cheap money, wide-spread bad (often predatory) lending, phony securities, credit derivatives, and Wall Street banks' massive over-borrowing led to our current financial crisis. Yet there is still no meaningful reform. Explanation of credit derivatives begins at 8:00. http://www.huffingtonpost.com/janet-tavakoli/washington-must-ban-us-cr_b_489778.html

joecolorado: (March 10, 2010 11:39am)

5pence-I dont think they use MLS info asd that is a little closer to reality, they tend to use the assessors office sata,and although we have one of the better assessors offices,the data is definitely suspect.Wrong GLA's,wrong bed count,wrong bath count etc.BUT I was expected to explain why my on site GLA figure was so different from the assessors office.!!!!(the assessor's hadnt seen the property since 1967 and I measured it on site)go figure....my appraisal was rejected.

5pence: (March 10, 2010 11:31am)

It's up to us to keep them honest and copywriting is but 1 step. If it's copywrited they can go to jail for altering the report in any way - or least be sued big time.

5pence: (March 10, 2010 11:28am)

The guilds and action committes should check into that - reduced copywrite fees for volume. There are whole industries growing around ripping our data. All they have to do is pay for the MLS if they want data for their AVM's, but they're too cheap and it's probably more fun to them ripping it off of us.

5pence: (March 10, 2010 11:25am)

Copywriting your reports works. A guy here in Wa. sued for copywrite infringement and won. It's about $35 per appraisal but it will stop the nonsense of ripping our data because they're too cheap to pay for the MLS. Maybe appraisers as a group can get a discount on the copywrite fees.

5pence: (March 10, 2010 11:22am)

Clulessdad : If you've got a line to Rep Millers office, I'm dying to know what Bernacke didn't want to talk about in public about the HVCC and appraisers. Also, thanks for doing the digging on that - a lot of false rumors are floating around.

joecolorado: (March 10, 2010 11:21am)

flappraiser-what is actually much worse if you think about it,and believe me I am not defending ANY amc,appraisalport is only one of a bad bunch.Sending your report in an AI format is similar(required by the amc because the client demands it?horsepucky),except that when the AI logo comes up on the screen,the script with it STATES that the appraisers signature is removed,information is taken off and the signature is re-placed in the document.....and that's sanctioned by the "INSTITUTE".Any appraiser using the AI format has contributed to the problem,as S/He has no idea what his appraisal actually states anymore as anything can be put down by anyone needing a higher figure and then re-signed with your name.Dont forget if its your signature, and your license number it IS yours and you are liable even though you dont know of the "new"contents.

5pence: (March 10, 2010 11:19am)

Rep Miller wanted to talk to Bernacke about the HVCC but Bubble Ben refused to discuss it in public. He said they should talk about it in private. Why? And it's not the first time I've seen that go on. Are they afraid of the truth? The only time appraisers are talked about is behind closed doors where no one can voice a differing opinion. Appraisers seem to be the word no one wants to bring up, not Congress, not the President, not the Banks, no one. Why? Are they afraid of our opinions? I'd say YES! They have good reason to be afraid of us. We know market value better than any real estate professional and we know the banks dirty tricks. They rather keep us gagged and in the background so what we have to say doesn't have to be dealt with.

Clulessdad: (March 10, 2010 11:14am)

Just spoke with Rep. Gary Miller's aid to the HFSC. Mr. Miller is the champion for the end of HVCC. He says that HR4173 has the provision to sunset the HVCC, at this time. He believes the Senate version also has it. However, he cautioned that anything might change behind closed doors.

5pence: (March 10, 2010 11:11am)

We're being penalized and no one is telling us what it was we were supposed to have done. If they gave us a reason they'd get an argument that proves they're wrong and they couldn't deny our right to work. Conclusion: They're afraid of us. The only conclusion I can reach of why they're afraid of us is that we have more power than we know.

FLappraiser: (March 10, 2010 11:08am)

Are ALL appraisers out there aware that sending appraisal reports via appraisalport violates USPAP in more than 1 way? The report that is received by the client is no longer the secure document that is required by USPAP. There are the arguments that the client wants it sent that way, but USPAP does not care what the client wants. USPAP says what the appraiser must do! Secondly, reports that have more than 2 sketch pages also violates USPAP because the calculations for determining the square footage are "not supported" and do not get sent. Bingo, another USPAP violation on the appraiser caused by the client. Do they care, heck NO!!!!!!

5pence: (March 10, 2010 11:04am)

ciappraiser : That's my guess. My appraiser friend was rolling along fine and then all of a sudden 1 day he had no work. It took some investigating on his part but he found out that the work was being sent to someone else (not even in this county) that underbid him. The only way he found out was it was his #1 client for 15 years and he called them to see what was going on. It's criminal what these amc's are doing and no good reasons are being given us of why it's being done ! I mean wtf!

CornerstoneKathy: (March 10, 2010 10:57am)

Fact is that our customer service would beat any AMC everyday!! Things are nice and easy for them now because the work is being forced through them and it is slow..what would they do if the appraisers werent sitting home all day clicking away trying to get their 1 little deal..what if it was really busy and they had no one to assign it to..what will they do when their QC dept cant handle all of the files and the clients are breathing down their necks for a rush? 24 hour turn times ..hah appraiser cant do them any faster I would assume. Our clients used to tell us what files were priority so we could do them first. Now you got some crappy AMC "grading" you on turn times so first come first served! They could not handle such a busy time again. Even with that end of the business tripling this year. Appraisers have spent too much time trying to figure out what might be a better solution than HVCC we now need to unite behind the verbage in the bill..its the only hope.

ciappraiser: (March 10, 2010 10:54am)

5pence-underbid? Really? I never received anything-is that what's happening - we're being removed because of fees? Aren't we supposed to be "protected by HVCC" when we are removed from a panel with no probable cause - nothing in writing! This is ridiculous! Join your coalition or guild - if they aren't being proactive, get appraisers together and start one of your own. We need advocacy - bottom line!

Clulessdad: (March 10, 2010 10:50am)

Even though HR 4173 has that provision, it doesn't mean that the wholesale network will allow brokers to order appraisals. Their investors may just still require it, after all, it is all about collateral value now. This HVCC really is bad. It has taken me 3 days to fight with an AMC on getting an order started. STARTED!!!! God I hate this business now.

Fritzboy: (March 10, 2010 10:47am)

As an independent Appraiser, my customer service, turn time and fees are better than any AMC. This is highway robbery. They just get in the way, prolong escrow and steal our hard earned and very deserved money. Where else in the world has a professional received 1/2 pay fee cut, after 10-15 years of not raising prices according to inflation. I have been in the Appraisal business for 17 years. Was Review Appraiser for 3 years, Supervisor for trainee and 11 years on FHA list. All those things have been taking away from me. We are slowly being drained of the work we should be able to do. AI hasn't helped my kind at all. They do everything possible to get rid of the work my license was intended for. I jumped through all the hoops to get it and all I was told I could do with it is now gone. We need to get back to a free market and competition of the most experienced, best customer service and fees that we can actually pays our bills with. And let our licenses do what they are supposed to do

5pence: (March 10, 2010 10:46am)

cpappraisals - No drama Obama wants it in place right away - as soon as he signs it. Whether he gets his wish or not remains to be seen. I'd imagine Nov would be right if it's not right away

5pence: (March 10, 2010 10:44am)

Someone underbid you ciappraiser. It's a race to the bottom with these AMC's. The sooner appraisers realize this the better off we'll all be.

Ill Appraiser: (March 10, 2010 10:43am)

You can track bills at "thomas.loc.gov" to a certain degree but I still get the impression that what is on that website is not necessarily what is actually going on.

cpappraisals: (March 10, 2010 10:24am)

DEDE-Your welcome and I have that same question. I believe that is the bill that is supposed to go in effect in November when HVCC ends but I am not sure. Does anyone else know??

pfortier: (March 10, 2010 10:21am)

I like the skit. If you are supposed to be drinking Chardonay maybe you should atleast open the bottle. You also might want to get rid of the Pacifico bottle. Keep up the good work

Ill Appraiser: (March 10, 2010 10:16am)

miller1 - ICAP and AI appear to be related but they really aren't. I get the impression that ICAP and IDFPR are working on things together more so. Some of the ICAP board are also AI members but in some respects I think it is to be in the loop and aware of what they are doing. It makes sense. If AI is working on something legislative, ICAP can work on something else. No need for duplicity. Besides once you earn your AI designation, which many did years ago, one probably doesn't want to give it up and AI does have some good CE. I personally don't belong to AI, I can just see the point if you are designated.

ciappraiser: (March 10, 2010 10:12am)

I was just informed by a lender that I along with another local appraiser have been removed from a panel with no notice. Under HVCC, aren't I supposed to have written notice and a chance to defend myself? I believe this bank has done this to shorten their rotation list (which is not enforced). I have not been asked to rebut anything and have not received any written notice. Does anyone have any information that could help me fight this? This is completely absurd - almost 20 years in business and this has not happened to me - rebut, yes, kicked off with no explanation - absolutely not!

DEDE: (March 10, 2010 10:02am)

GREAT LINK THANK YOU SO MUCH. WHEN IT SUPPPOSED GO INTO EFFECT? I CANT WAIT. THE HELL WITH THESE AMC'S, THEY ARE VOULCHERS. I HAVENT MADE MY STUDENT PAYMENTS FOR COUPLE MONTHS NOW. BEFORE HVCC I WAS ALWAYS WORKING. I HAVE DECLINED FEW ORDERS FOR $ 175 ON FULL FHA APPRAISAL REQUEST, THUS I AM ON THEIR BLACK LIST. THEY NEED TO HAVE SOMEONE TAKE A LOOK AT THIS ORGANIZED CRIME OPERATION.

miller1: (March 10, 2010 9:58am)

To For What it is Worth. I don't want to collect any money I am looking for cooperation. Numbers are needed to email O'Relley, Beck, Rush and call our senators. We can blog all day and not help the situation it is time to act. Or the states will all have to pay us self employed people so we can survive

miller1: (March 10, 2010 9:45am)

Cornerstone Kathy Thanks I have downloaded the list and I will call all of them in Illinois and Indiana ILL appraiser I was a member of ICAP before and are they doing anything they are connected to the Appraisal Institute that was part of the devlopled of HVCC and would not be on the TBWS live

cpappraisals: (March 10, 2010 9:40am)

Here you go DEDE-http://financialservices.house.gov/Key_Issues/Financial_Regulatory_Reform/FinancialRegulatoryReform/111_hr_finsrv_4173_full.pdf

DEDE: (March 10, 2010 9:39am)

CAN ANYONE GIVE A COPY OF THE LINK TO THE PDF FILE. I WOULD LOVE TO SEE THE HVCC TO GO DOWN. ITS KILLING EVERYONE.

cpappraisals: (March 10, 2010 9:39am)

III Appraiser-Read the PDF page 823

cpappraisals: (March 10, 2010 9:38am)

From what I understand when this bill takes effect within 60 days Fannie and Freddie have to accept any appraisal reports ordered by any brokers that are licensed or registered with SAFE. Am I reading this right guys? I am sure this is a big BUT somewhere but I can't find it. Anyone have input on this?

Ill Appraiser: (March 10, 2010 9:36am)

I spoke with an intern at Senator Durbin's office yesterday and he looked at "his" HR4173 and found no mention of anyhing HVCC. I posted this on the facebook page "I am a real estate appraiser" and got this response. "They're probably looking at one of the Senate bills which, they are correct, do not currently include the HVCC provision. However, whatever bill they are looking at is not what is going to be considered. The Senate version of the bill is being negotiated right now behind closed doors. I am aware of only one professional appraiser organization - AI - that has been actively advocating for the inclusion of this provision in the Senate version of the bill." I find it interesting that there are different versions going around. What does that mean? By the way, I would encourage appaisers to check out the facebook page of "I am a real estate appraiser".

For What It's Worth: (March 10, 2010 9:35am)

miller1, Make sure you use the correct verbage when talking to the licensing boards. Unions are illegal, colusion for fees is illegal, but as far as I know GUILDS are completely acceptable. Most boards are very carefull to quote regulations, but not give you direction on how to accomplish your goal. Keep us updated and I am sure we can form together as a collective.

cpappraisals: (March 10, 2010 9:30am)

Sorry don't know why those numbers popped in there. I copied it directly off of the bill.

cpappraisals: (March 10, 2010 9:30am)

My favorite part of the bill reads- 1 (1) shall not prohibit lenders, the Federal Na2 tional Mortgage Association, or the Federal Home 3 Loan Mortgage Corporation from accepting any ap4 praisal report completed by an appraiser selected, 5 retained, or compensated in any manner by a mort6 gage loan originator— 7 (A) licensed or registered in accordance 8 with section 1501 et seq. of the SAFE Mort9 gage Licensing Act of 2008; and

miller1: (March 10, 2010 9:28am)

Cornerstone Kathy Thanks I am looking that up and going to get the appraisers and will contact a lot

Ill Appraiser: (March 10, 2010 9:27am)

miller1-ICAP is working on legislation. IDFPR is going after the bad guys and that includes AMC's. Okay Illinois appraisers, anything and everything that doesn't seem right needs to be reported to the state and that includes AMC's removing signatures from reports, requirements that violate USPAP, reviews by appraisers not licensed in the state of Illinois, etc.

cpappraisals: (March 10, 2010 9:26am)

Cluelessdad-Thank you so much for the info last night on HR 4173 section 4312!! First time I have had some hope in a long time. miller1-The section you are looking for is on page 823 of the PDF.

CornerstoneKathy: (March 10, 2010 9:15am)

miller1 The state board is only there to license, educate and discipline you..they dont care after that all appraisers info ..except email addresses are on the Appraisal Subcommittee website https://www.asc.gov/

SoCal Mortgage Broker: (March 10, 2010 9:11am)

Sue: If HUD does away with mini eagles, it will up to the lenders if they want to see your quality control.

miller1: (March 10, 2010 8:58am)

Just a note to you all I am contacting the state head of appraisals in the state of Illinois He is Brain Weaver I am also call the Indiana state, I was given a number by the state to get a list of state licensed appraisers and will also do the same thing for the state of Indiana. I will call all of them to see if we can get an association. All other states should be contacted. We need numbers to solve this problem

miller1: (March 10, 2010 8:50am)

Clulessdad yesterday you said the HVCC will senseted is in 4312. I want to look it up what is the location. Thanks a lot

jfeinhandler: (March 10, 2010 8:47am)

sucks I can't use my alias any more.

joecolorado: (March 10, 2010 8:16am)

Briany-sorry, no offense but you believe wrong, Fat Tire is brewed by New Belgium Brewery in Fort Collins, Colorado.

briany: (March 10, 2010 8:03am)

I didn't know that Pacifico Cervesas were from Napa!?!?! Nice touch guys. I believe Fat Tire is from Sonoma.

joecolorado: (March 10, 2010 7:28am)

the carea site has omoved the new page is at http://www.membermanager.net/carea/ just so you know.Nut thanks for the input I appreciate it.

sue: (March 10, 2010 7:27am)

Regarding the HUD audits --- Does anyone know if we still have to complete the file audits for FHA closed loans every quarter (10% of closed files)??? Thanks!

joecolorado: (March 10, 2010 7:25am)

Justfrank-I dont take fees other than my worth.I've discussed the problems appraising/appraisals with colleagues,however in Colorado it's illegal to discuss/hint at fees.BUT I consider my worth as an appraiser & charge accordingly,I dont care what anyones fees are,I dont screw people just because they are in a corner & needing my expertize.My fees rarely change tho' I've done appraisals for free to deserving individuals,low income/special needs clients,I am proud of my profession and I have instilled that in my juniors,but I have been known to cuss out a retiree on a good paying pension whom has taken up appraising as a second job to keep busy,& accepting a "reduced"fee,sneering with derision at my pliant about fees offered by amcs.He was very busy by the way,with no concern about the plight of other appraisers.I couldn't punch him as he was too far away & I was being held,thank goodness as he was old but enormous.(I am daft not stupid).

5pence: (March 10, 2010 7:23am)

Take your money out of the too big to fail banks, don't fund their risk taking or support their cartel

T Bone: (March 10, 2010 7:16am)

Local Banks I'm tired of local banks offering these terrible balloon payment loans in exchange for borrowers opening accounts and depositing funds in their banks. This should be illegal!

ciappraiser: (March 10, 2010 7:08am)

joecolorado - there is already a coalition in Colorado (if you are there) - carea.net; I'm not sure how effeective they are, but there are coalitions and guilds all over the country popping up. California's website will be up for the public on Tuesday,and its up for members right now. AZ, IL, OH, NM all have coalitions already lobbying their states. Before you gather 25 appraisers together to start something new, make sure there isn't something in place already so you don't have to refile at the State level (its not free to start a non-profit). Everything costs something, so support your local coalition or guild - at least 20 states already have them in place - they just need more members to be effective. Eventually, all states will go national with this, but it's got to start with each state!

joecolorado: (March 10, 2010 7:00am)

RIBLAH-just laziness, will do

JUSTFRANK101: (March 10, 2010 6:47am)

Hey Joe. As long as there are Appraisers willing to work at the discounted fee there is little hope for change. In 2007 Appraisers hadn't a pay raise in 10 years now instead of a raise their pay has been cut in half or more. The Appraiser was the only Block in the Road now B.P.O. is popular - handing the industry over to satin's little buddies. Joe, if you are able to locate 25 Appraisers in your area that agree form a Guild join http://www.njreaunite.com/ or http://unionofrealestateappraisers.com/ - and SHUT YOUR AREA DOWN UNLESS YOUR FEES ARE MET.

riblah: (March 10, 2010 6:46am)

joecolorado, you seem like a nice guy. However, your abbreviation for appraisal, etc, is irritating. I hope you will stop it. Please?

5pence: (March 10, 2010 6:41am)

Yeah, really JustFrank101 - where's the heart of the beast? Let us know. It has many heads but only one heart. Don't say legally - it can't be challenged in a court of law. We're with you, just say where

joecolorado: (March 10, 2010 6:39am)

I also agree with Cornerstone Kathy and Jersey Girl, there is nothing like a good glass of plonk.But I have never seen good wine fizz and hold a head like franks and brians glasses?maybe it was the lighting or the proximity to the cheese whizz.

joecolorado: (March 10, 2010 6:35am)

I have been asked for updates for several years and have declined ALL of them. If the investor needs a free ap88al then they will have to use one of their subservient whippets as I value my license and expertise,no value or report I submit has less than required to comply with the current regs.Why on earth would anyone discount their worth and demean signature by accepting a reduced fee for their expertise? This absolutely baffles me.

joecolorado: (March 10, 2010 6:30am)

justfarnk-give us a hint as to how we can accomplish what you suggest.Any input is welcome

joecolorado: (March 10, 2010 6:28am)

5pence-they make forms because there is a demand for them its the ap88rs job to monitor and decide whether the commission received can be completed in a manner which is USPAP compliant.

JUSTFRANK101: (March 10, 2010 6:25am)

I think it is extremely important we appraisers keep pissing and moaning and do absolutely nothing physically to change the HVCC and demanded use of Appraisal Management Companies. Think Big act small worthless appraiser!

5pence: (March 10, 2010 6:24am)

True Ezra, there is no "update" that doesn't violate USPAP. It's a new assignment. It kills me that they make forms for appraisers that aren't USPAP compliant.

Ezradams: (March 10, 2010 6:19am)

Appraisers: Read the mortgagee letters carefully. An "update" requires the appraiser to make another visit to the property AND check whether the property has lost value. So, an update is really a "new assignment". Keep that in mind when you bill them for the additional work. They may argue that the form is short. Let them know just how much work it takes to come up with a value opinion each time the effective date changes.

kgies: (March 10, 2010 6:12am)

It is appears that your wine beverage of choice was some type of micro brew!

Seabolt: (March 10, 2010 5:55am)

Thanks for bringing some fun into my day while informing me of current events in the mortgage industry! Y'all are hilarious!

riblah: (March 10, 2010 5:55am)

I've noticed people on here often use HVCC and AMC interchangeably.

5pence: (March 10, 2010 5:33am)

Greek strike to shut down services Thursday. Greek unions will stage their second nationwide strike in a week on Thursday, shutting down all public services, closing schools, customs and tax offices, halting public transport and grounding flights for 24 hours. Unions are protesting the Socialist government's harsh austerity measures, designed to curb the country's massive debt and pull it out of an unprecedented financial crisis that has hammered the euro. The measures have cut civil servants' salaries, frozen pensions and increased taxes, including on fuel and general sales tax. "They are trying to make workers pay the price for this crisis," said Yiannis Panagopoulos, leader of Greece's largest union, the GSEE. "These measures will not be effective and will throw the economy into deep freeze." Journalists, teachers, state hospital doctors and air traffic controllers will be among those striking, while officers from the police, fire service and coast guard plan to join protest rallies

amy's frustrated: (March 10, 2010 5:27am)

outraged about the AMC? chime in on my discussion started on the facebook page for ABC 20/20...click on the discussions tab....read thru cuz there are other emails we are infiltrating as well....you may also go to dateline nbs's facebook page and there is a discussion started there as well...someone is going to investigate the AMC!!

Linn: (March 10, 2010 5:23am)

lol, good info and good acting

5pence: (March 10, 2010 4:54am)

Good morning guys. 5 am here. Lost 2 jobs yesterday, 1 because of an unpermitted addition and the other because I got underbid, and I bid low. I read your Niche Report interview - interesting stuff. It's good to know the history of TBWS and how you guys got here. Your viewership is growing and you guys deserve it. I see you leaned more towards humor today, lol. Cool. So you're saying the wine industry is turning into the whine industry? :^)

BT: (March 10, 2010 4:45am)

Its 5 o'clock somewhere...

Jersey Girl: (March 10, 2010 4:32am)

Cornerstone K: I am with you. Do you think it's too early to have a glass of wine? ;)

CornerstoneKathy: (March 10, 2010 3:52am)

I have done everything in my power to keep the wine industry going..especially lately