Comments on: Home Valuation Websites vs Actual Appraisal http://thefinancebuff.com/home-valuation-websites-vs-actual-appraisal.html like a friend telling you about money ... Fri, 10 Feb 2012 17:31:35 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Anthony http://thefinancebuff.com/home-valuation-websites-vs-actual-appraisal.html#comment-5657 Anthony Tue, 18 Jan 2011 15:44:47 +0000 http://thefinancebuff.com/2009/05/home-valuation-websites-vs-actual-appraisal.html#comment-5657 I am an appraiser and the HVCC is a lot more complicated than that and created havoc in the appraisal industry which resulted in multitudes of appraisers leaving the industry because they can no longer make a viable living without working 90 hours per week. HVCC has subsequently been sunsetted by the Dodd-Frank Financial Reform Bill. This will usher in a whole new set of rules, regulations and liability. Lately the buzz word has been low ball appraisal but there is soooooo many guidelines and requirments burdened upon the appraiser by the lender/client. More inexperienced appraisers are now performing these appraisals due to the AMC's (indirectly owned by the banks) sending these appraisal orders to the lowest bidder who could get it done the quickest resulting in deminished quality. If you would like a little more depth feel free to email me. I am an appraiser and the HVCC is a lot more complicated than that and created havoc in the appraisal industry which resulted in multitudes of appraisers leaving the industry because they can no longer make a viable living without working 90 hours per week.
HVCC has subsequently been sunsetted by the Dodd-Frank Financial Reform Bill. This will usher in a whole new set of rules, regulations and liability.

Lately the buzz word has been low ball appraisal but there is soooooo many guidelines and requirments burdened upon the appraiser by the lender/client. More inexperienced appraisers are now performing these appraisals due to the AMC’s (indirectly owned by the banks) sending these appraisal orders to the lowest bidder who could get it done the quickest resulting in deminished quality.

If you would like a little more depth feel free to email me.

]]> By: Floe http://thefinancebuff.com/home-valuation-websites-vs-actual-appraisal.html#comment-2426 Floe Thu, 09 Jul 2009 21:15:24 +0000 http://thefinancebuff.com/2009/05/home-valuation-websites-vs-actual-appraisal.html#comment-2426 I'm glad you mentioned HVCC, because this is causing an uproar in the mortgage industry. It seems to be causing more expensive appraisals, as well as more "low ball" appraised values, due to the Appraisal Management Companies (AMCs) conducting the appraisals. AMCs may not be very familiar with a particular market area, which causes the appraisal to be more conservative. There are a few other factors involved, but ultimately the HVCC is causing more of a problem than a benefit for consumers. I'm fighting with this right now in refinancing my home...I have no clue who will conduct the appraisal, and neither does the broker. If the appraisal comes out to be conservative, I may have to try another lender, which may cause me to have to pay for ANOTHER appraisal! Hopefully the HVCC will be overturned!!! It's so unfair!!! Great blogs, btw, TFB!!! I’m glad you mentioned HVCC, because this is causing an uproar in the mortgage industry. It seems to be causing more expensive appraisals, as well as more “low ball” appraised values, due to the Appraisal Management Companies (AMCs) conducting the appraisals. AMCs may not be very familiar with a particular market area, which causes the appraisal to be more conservative. There are a few other factors involved, but ultimately the HVCC is causing more of a problem than a benefit for consumers. I’m fighting with this right now in refinancing my home…I have no clue who will conduct the appraisal, and neither does the broker. If the appraisal comes out to be conservative, I may have to try another lender, which may cause me to have to pay for ANOTHER appraisal! Hopefully the HVCC will be overturned!!! It’s so unfair!!!

Great blogs, btw, TFB!!!

]]> By: Ted http://thefinancebuff.com/home-valuation-websites-vs-actual-appraisal.html#comment-2276 Ted Thu, 18 Jun 2009 01:56:49 +0000 http://thefinancebuff.com/2009/05/home-valuation-websites-vs-actual-appraisal.html#comment-2276 Good information. It becomes more valuable the more data you collect. Obviously these numbers will change depending on several factors, including region and home condition. Good information. It becomes more valuable the more data you collect. Obviously these numbers will change depending on several factors, including region and home condition.

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