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My New Blog

Closer to HVCC
December 21st, 2008 6:00 PM

With the new yeear coming closer, will the HVCC take effect?  Will it's threat and scare cause essentially the same thing?   Wells Fargo is demanding that all brokers use 1 of 4 AMC's or they will not buy/underwrite the loan.   That is complete garbage.  They're using this as an exuse to force more appraisers into their little web which lowers appraisal fees, raises their profits and utimately lowers appraisal independance due simply to economic extorsion.   Only those appraisers willing to be bullied will work for them.   Is this who we want to do the appraisals out there?  NOOOOO.   

As a disclaimer, some appraisers go through AMC's at low fees but do a good job.   They are the minority.  they are NOT of whom I refer.

God help the indipendant ethical appraiser.

 

Gary


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Posted by Gary W. Grantham on December 21st, 2008 6:00 PMPost a Comment

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