Comments on: HVCC: Home Valuation Code of Conduct Update

By: Anonymous

Anonymous — Thu, 18 Nov 2010 21:00:43 +0000

Just a word of advise from an insiders perspective, not all AMC’s are bad. All you need to do is find the few of us that understand where you are coming from and who are willing to pay fee’s between $300-400. Theres not many of us, hell, we could be the only one, but were here.

By: Ken Schmidt

Ken Schmidt — Sun, 25 Jul 2010 16:25:46 +0000

In a market that’s already being “drug through the mud” (i am in Phoenix)and is really struggling to climb out. HVCC is just another Bureaucratic hoop we have to jump through and it IS NOT helping

By: Alison Shuman

Alison Shuman — Thu, 22 Jul 2010 02:51:40 +0000

Low appraisal fees = less experienced appraisers = values all over the place, low and high. While some of the goals of the HVCC are laudable, the implementation of it is flawed and must be re-addressed.

By: Retired Appraiser

Retired Appraiser — Sun, 02 May 2010 20:17:03 +0000

You hit the nail on the head buddy. As long as you guys continue to compete for the lowest fees (even though they ask for 15 comps) YOU ARE THE CAUSE OF THE PROBLEM.

I am amazed that appraisers were unable to comprehend that a simple 1 to 2 month strike would have solved the problem and forced FNMA to rewrite HVCC.

The bottom line is that HVCC is based purely upon an EXTORTION BUSINESS MODEL…give up 50% of your monthly income if you choose to remain in business.

I have no pity for those who continue in the struggle to survive off of the appraisal bones that AMCs are tossing out. Today it’s $175…tomorrow it’s $95. You guys are idiots.

I didn’t hesitate to close my business of 18 years. If I wanted to be raped on a daily basis I would go share a jail cell with Bubba. I would also choose losing everything I own over being screwed daily. It’s called integrity guys.

By: Retired Appraiser

Retired Appraiser — Sun, 02 May 2010 20:09:04 +0000

Ray you are exactly right. Extortion is illegal except when a politician is involved. Senator Jim Bunning seems to be especially fond of the Home Valuation Code Of Conduct for some reason. I’m guessing that his old geezer retirement nest is being feathered by a few of the larger banks of the country. He was made aware of the HVCC plight nearly 18 months ago by my office. He chose to sweep the issue under the rug and has yet to comment on it publicly. Note that although the House Of Representatives has already passed legislation to halt HVCC, the Senate has refuses to touch it. The Consumer Protection Bill that is currently before the Senate has been scrubbed free of any reference to HVCC. Another telling sign that banks continue to control the Senate in every respect.

Cheers: to Senator Bunning and all of his dumb ass old f*ck collegues.

By: Ray K

Ray K — Sat, 16 Jan 2010 16:55:17 +0000

The real reason appraisers have not been able to fight the HVCC is the reason the HVCC was created in the first place, appraiser independence. We are not an organized group, most of us work for ourselves or a small appraisal firms. If the AG had a problem with an appraiser why did he not target the culprit and not the industry. If there is a bad cop do you change the entire police dept. or go after the bad cop. I agree that there are some bad appraisers, and I think everyone will agree there are some bad politicians.
Wasn’t the creation of the HVCC blackmail or extortion, but I guess that is legal from a politician. Maybe the Supreme Court needs to get involved.

By: Jas Parsons

Jas Parsons — Thu, 14 Jan 2010 21:52:40 +0000

Let me see if I’ve got this right, Gregg Wynn. I am supposed to stop taking appraisal orders for $250 instead of the $350 that I got for over fifteen years, so that I can receive $0 and a big long vacation from work. I should also go find a job elsewhere in this broken economy (so many jobs to choose from). My mortgage will get paid, my car payments will get paid, my children’s education will get paid, by who again?

Not every appraiser that is accepting these cutrate orders is an “ignorant newbie”. Some of us are still trying to make a living here. $250 is better than nothing. I guess some of you out there can afford to quit appraising. Not me. I suppose when my work gets down to the sub $20/hr rate, I will have to try something else (is McDonalds hiring?). I’m in my fifties and that is not a good age to start a new career. I will, however, continue to write appraisals to the best of my ability. It looks like this industry won’t last much longer though, and I will be forced to give up my lifestyle and be more of a burden on society. The fact that our government let’s all of this garbage happen makes me sick. “Home of the free”, my ass. Free is only available to those who can afford it in this country anymore.

By: Trace Richardson

Trace Richardson — Wed, 11 Nov 2009 00:01:07 +0000

If anyone has any thoughts on this and would like to share them as a guest post on a new Appraisal oriented blog we are launching, please shoot me an email at trace at leadpress dot com… thanks!

By: Mike Orlando

Mike Orlando — Sat, 18 Jul 2009 18:58:00 +0000

Since the inception of HVCC our company has lost from appraisals alone over 40 deals. This type of loss rate due to “low ball” appraisals on most of our listed properties will inevitably cause our business to fail. On every sales transaction we have been able to find more than enough sales comps, pending sales and active listings to prove reasonable value. Yet the appraisers being paid so little, pressed for time, and unwilling to consider the facts, choose the lowerst value in the area and that becomes the baseline for adjusting to their “low ball” appraisal method.
I think Mr. Andrew Cuomo in his infinite wisdom just had to add one more feather in his cap when inacting this law in the State of New York and then pushing it upon us all through this secretive legislation in the Senatate and House. I hope the people of NY vote this self aggradizer back to the farm where him and his father can contemplate their navals and write their next thriller on “Socialism in the US”

By: Jim Jendzurski

Jim Jendzurski — Mon, 29 Jun 2009 21:44:41 +0000

Actually I think the appraiser has more time on their hands because they are not chasing down their money or doing comp checks. How do you define your “true value” is this based on your experience as an appraiser or just someone who has ignored the fact that property values have dropped. I’ve been a field appraiser since 97 and it always amazes me that if the appraised value is low its incorrect. Plenty of HVCC compliant AMC’s are paying good money with no pressure to hit numbers. Bad banks and brokers along with bad appraisers landed us in this box. As far as the repeal, I doubt it. Once a bill is passed and the government goes in that direction almost impossible to change it.