FHFA Reinforces HVCC
On July 22, 2009 FHFA released a notice reinforcing the role of the HVCC in restoring the real estate market as a whole. In a short but very straight forward letter the agency addressed some very key points about the negative press the HVCC is receiving by the industry. The agency emphasized that the HVCC is not the cause of all the bad press about it but is rather a process that is helping restore the real estate industry as a whole. It addresses key points in respected to the use of AMC’s, Increased Cost of closing and turnaround times.
In conclusion they emphasized the “critical role” of the HVCC and how important accurate appraisals and quality appraisers are to the underwriting process. To view the full letter click here
facebook comments:
1 comment
Show me an AMC that pays an appraiser 90% to 80% of the over all fee. True, the AMC’s adds some value to the process, but they pay the appraiser, who completes must of the work only 50% to 40% of the total fee. I have started to ask AMC’s when they try to order an appraisal from my company and wish to pay me only $150.00, “would the borrower’s like peperoni with that appraisal?” Because I could make more money delivering pizza then working in a profession they have made a mockery of.
The Pizza Man appraiser
Leave a Comment