HVCC

Radio Show: Dave Biggers and Marco Ruiz (RuizAppraising.com) recently appeared on the "My Technology Lawyer" radio show to talk about the HVCC. Click to view..

The real estate market, and the appraisal industry specifically, has been in unprecedented upheaval during this correction, especially in these last few months. Every time you think you’ve seen it all, another bombshell comes along to rattle what you thought was your strong understanding... Click to view..

In this newspaper’s inaugural edition, we covered several problems in the AI XML standard and the way it’s managed (April 2008, "Paying To Use Your Own Bathroom: AI XML"). At the time of the original publication, there was already an inquiry underway by the Virginia Real Estate Appraiser Board into the Appraisal Institute/AI Ready/FNC/AppraisalPort scheme, triggered by a petition demanding that the board ban the use of appraisal portals which have not provided sufficient evidence that "ensures the integrity and unadulterated transmission of appraisal reports". Click to view..

As the market naturally erodes due to fewer real estate transactions, and as the HVCC pushes the remaining transactions in ever-increasing numbers to appraisal management companies (AMCs), many appraisers are kicking around the notion of creating a member-owned AMC, or "co-op". Click to view..

Things in the financial markets and the economy as a whole are changing so fast, it’s enough to make you want to unplug your TV and unsubscribe to all of your news feeds. As I was thinking about what to write for this article, I couldn’t stop considering the fact that regardless of what I write, it will be outdated by the time the paper leaves the press. Even the facts in the e-mail version will probably be outdated within twenty-four hours of when we press “send”. Click to view..

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At a Senate hearing on Tuesday, Sen. Elizabeth Dole asked Fed Chief Ben Bernanke about the Fed's role in modifying the HVCC. Click to view..

As you've probably heard, Senator Elizabeth Dole (R-NC) proposed an amendment to the Senate Housing bill sponsored by Senate Banking Committee Chairman Dodd (D-CT) and Senator Shelby (R-AL). Click to view..

Over the last couple of months, as I’ve been dealing with analyzing, publicizing, and trying to affect the final “look and feel” of the HVCC, I’ve been surprised frankly at the near-irrational venom directed by appraisers toward mortgage brokers. Click to view..

As we said in our May article “31,000 respond to the HVCC,” tens of thousands of appraisers made their voices heard in opposition to the HVCC. You should be congratulated for such a phenomenal response. But the fight is far from over, and there’s still much to be done. Click to view..

As a result of your efforts and our Washington team, we are making progress explaining to Congress the negative impact the current version of the Home Valuation Code of Conduct (HVCC) will have on consumers and independent appraisers. The Office of Federal Housing Enterprise Oversight (OFHEO) has heard our message loud and clear: The HVCC needs to be fixed to create a level playing field. The magnitude of the issue means that we have to press on and make sure we get a fair hearing and amend the HVCC. Click to view..

No matter where you live or what committees your members of Congress may be on, it’s essential that you contact your Representative and both Senators immediately and make your opinion heard on the HVCC and legislation affecting you. Click to view..

I’ve been fascinated with politics since I was in the second grade. I remember our teacher even conducted a mini-election. Who wouldn’t be fascinated with the political events of those days? It was 1968. Bobby Kennedy was assassinated and the last chance to implement many of his brother’s policies died along with him. Click to view..

It's clear that no matter how the HVCC plays out, there will be continued pressure to implement some sort of firewall to shield lenders from the liability inherent in loan production staff applying potential coercion to appraisers. In fact, it's been a general requirement for years, most recently dating to the "interagency memo" in 2005 from the OCC, the OTS, the FDIC, and the Fed — the HVCC just imposes it on lenders in a more abrupt and internally meddlesome way, with additional negative consequences. Click to view..

In the last issue, we discussed the size of the overall appraisal fee business in the lead article (“How Big is the Appraisal Pie?”). Logically, the next step is to consider what amount of damage is done to that market by the HVCC. Click to view..

For perhaps the first time since the S & L crisis of the 1980’s, appraisers are faced with an alphabet soup of proposed regulations which will dramatically and permanently alter the valuation industry landscape. But unlike the S & L crisis, appraisers and others are forming political, legal, and business assault teams and preparing for a long, painful fight over the HVCC, as well as other real estate reform bills. Click to view..

Letters submitted for HVCC Commentary by various organizations and corporations. Click to view..

In connection with your open invitation for comments on the draft Home Valuation Code of Conduct (“HVCC”), we are pleased to enclose herewith our response for your consideration. Click to view..

When we first started reporting about the HVCC, we were surprised by how many appraisers had no idea what it was. We then kicked off a “change campaign” with unprecedented results. Click to view..

In the last issue, the most popular article by far was "Preventing the AMC fee cut". This issue, we're looking at the bigger $6.3B valuation market and the role that an "un-AMC" may be able to play in keeping a much larger share of in your own pocket. Click to view..