HR 3126 deserves the support from the consumer, Realtor, obviously the lending industry, (the banks won't support it because it will save the consumer money and Banks lose revenue) and support is needed from all the other vendors supporting the real estate market place IF the amendment killing the HVCC (preventing originators from ordering their own appraisal) is included.
America write your representative and senator and refer to HR 3126....and demand this amendment is included. It has some distance to travel before it gets to a vote however we all need to contact our representatives and tell them to get this on their radar screen and support it.
I have to be frank (no pun intended) the government has continued to demonstrate its ignorance when dealing with the financial industry and the overall results of HR 3126 I'm sure will be mixed but if it eliminates the ridiculous HVCC requirement the consumer will be the winner and that's rare in today's world.
The removal of this HVCC thing would be the beginning of meaningful and necessary push back. Let's hope Barney Frank doesn't screw this up too. See link below:
http://www.housingwire.com/2009/10/22/house-panel-sunsets-hvcc-in-consumer-finance-bil/
I wish us all well.
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