June 2009

There are 1 blog entries for June 2009.

Buyers Pay More $$$ for Slower and Less Accurate Appraisals With New HVCC Rules and AMCs--DRAMA!

So the new HVCC (home valuation code of conduct) came out May 1, 2009 and have had a profoundly negative impact on consumers, appraisers--at the least the best, most established ones, real estate agents and sellers.  yes you heard that correctly--sellers are being hurt by this overreaching by a federal bureaucrat Andrew Cuomo who himself received big $$$ from AMC (appraisal management company) interests.  

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 Now most large lenders are being required to use AMC--appraisal management companies--to get appraisals done.  The AMCs are a 3rd party--an extra layer of bureaucracy for consumers to pay for and wait for--through which lenders now order appraisals. 

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