HVCC - The Smoking Gun, Corruption at the expense of Ethical Appraisers.

Did you know that Andrew Cuomo, the New Yorks Attorneys General, the genius who invented HVCC is himself involved with an Appraisal Management Company? As a matter of fact Cuomo was a paid board member of AMCO, an appraisal management company. His buddy is Ed Davidson (a major campaign contributor of Cuomo) and was the CEO of AMCO, which was sold to SIRVA and renamed Valuation Services, LLC. It is reported that Davison has rights to future income from Valuation Services, LLC. (and I wouldn't be surprised if Cuomo does get a couple of bucks from it either).

I'm requesting that all Real Estate Professionals support appraisers in getting HVCC repealed. An amendment to eliminate HVCC is located inside the Consumer Financial Agency Act of 2009, soon to be discussed in the Senate. Please tell your Senators about any of your own negative experiences with HVCC. Experienced and dedicated appraisers are being driven out of the business, and in most cases being replaced with inexperienced and underpaid appraisers and unlicensed sweatshop employees.

Ideas of what you can include in your letter: Experienced and highly ethical appraisers are not getting appraisal work, poor appraisal quality/unexperienced appraisers, low values, slower turnaround times, appraisals are more expensive than prior to HVCC, cannot use the same appraisal with other lenders, AMC's won't answer their phones, or return calls in a timely manner, AMC are now doing the pressuring, etc.

Here's the links to California's Senators.

E-mail link for Barbara Boxer:

http://boxer.senate.gov/contact/email/policy.cfm

E-Mail link for Diane Feinstein:

http://feinstein.senate.gov/public/index.cfm?FuseAction=ContactUs.EmailMe

Here's a link to locate Senators for other states:

http://www.senate.gov/general/contact_information/senators_cfm.cfm

Dear Representative Minnick,

I am writing to you today on behalf of the National Association of Mortgage Brokers (NAMB) to urge you to vote for an amendment to H.R. 3126, the "Consumer Financial Protection Agency Act of 2009," submitted by Representatives Childers and Miller (CA). The amendment seeks to reverse the harmful Home Valuation Code of Conduct (HVCC) and calls on regulators to work together on one set of appraisal standards.

Click here to view a petition with over 100,000 signatures of Americans calling for the HVCC to be overturned. You may select your home state to find out how many of your voters support reversing the HVCC.

Sincerely,

Jim Pair, CMC
NAMB President 2009-2010

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Orange County, La Habra, La Habra Heights, Whittier, Brea, Fullerton, Anaheim, Placentia, Yorba Linda, La Mirada, Buena Park, Cypress, La Mirada, Hacienda Heights, or Norwalk. Feel Free to give me a call at 714.441.1987 (USA) or email me at wynng@roadrunner.com or visit my website at http://www.SoCalRealEstateBrokers.com