FHA purchases given priority in this area due to HVCC

[Cynthia]

We are seeing in our area many agents giving buyers offers with FHA financing priority as they know a local trusted appraiser can be used and they are not (their words) having to take their chances with an AMC knowing they are often getting inexperienced out of the area appraisers.

What does this say about the HVCC and the fear of the appraisal's effect on the sale? While some may call a "low appraisal" a bad appraisal, the local agents I talk to are pretty knowledgeable of the market in this area and by a "low appraisal" they truely mean the appraiser did not understand the market. I have heard a few appraiser comment (try to be safe going on the low end) when in fact they were not using arms length transactions or the best comparables available.

[BrandyTime]

Here we go again, people calling themselves appraisers who want to put the commissioned sales people back in charge of the appraisal process - pathetic. HVCC does not mandate the use of AMC's. AMC's bringing in out of area people need to be called out on it. NAR and NAMB only started complaining about the "quality" of appraisals when they could not send their good buddy donut buying shill out to HIT THE NUMBER!!!! No complaints during the boom when the quality was just as bad or worse but for different reasons. Good for FHA - they can be the next bail out.

[David Nyitray]

Any appraiser that thinks the HVCC is a good thing is pathetic. I have been appraising in South Florida, the fraud capital of the world, for 19 years and have many times had mortgage brokers, loan offices, and realtors tell me that if I did not make a value they would never use me again. Anyone that falls into that trap will never get out. If you help them on this deal they will expect it on every deal and the first time you don’t they will drop you, no matter how many time in the past you did. Appraisers that gave in to the pressure were wimps or simply frauds and should not be in the business. Any industry you are in, CPA, doctor, auto mechanic, NFL coach, etc, people are always going to pressure someone to do something that is not the correct thing to do. We do not need the government dictating how we get our business. Should the US treasury assign all tax payers an accountant from say an AMC (accounting management company) like H&R Block because too many accountants are helping individuals cheat on their taxes. Appraisers need to quit whining about pressure from brokers and just do their appraisals ethically. The HVCC is a joke and any appraiser that thinks this is helping the industry is most likely someone who can not resist temptation, is someone who does not know how or can not market themselves and must rely on an AMC s to get them work. I did AMC work 20 years ago for a short time when I was new to appraising and this work helped keep the lights on. Once I learned more about the business I ran from the AMCs. Anyone that relied on them for work was either incompetent or lazy. Quite crying about pressure from others, it is your responsibility to do the right thing not the Mortgage Brokers Association, lenders, banks, etc. Turn in those that commit fraud, even though it most likely goes nowhere, but simply do the right thing and quit crying about it. If you can not handle the pressure get out of the business

[Cynthia]

I know there are alot of opinions on the HVCC and very strong emotions tied to them. Our incomes for the majority of appraisers have been effected and those of us that have been in the business for many years (18yrs for me) and had built up relationships with very ethical honest professionals so we were not being asked to push values or do unethical things have badly been effected when we were mandated we could not longer work honestly and ethically with the business we built because some folks were caving to pressure or did not like the pressure.

I would really like to see a stop to the name calling and finger pointing. We are suppose to be professional adults and while emotions are running high we can communicate differing opinions without the name calling. There are and always will be folks that skirt the rules and cross lines but there are a whole lot of good honest professionals in all ends of the real estate business, appraisers, brokers, lenders, real estate agents, processors, underwriters etc.

Painting with such a wide brush and calling folks names is not professional or ethical. I'm really glad to hear the differing opinions but I find when someone starts with the name calling there message is mostly lost.

Hope you all had a great 4th! The weather here in Folsom CA was fantastic!