Statement of No Confidence From Alabama
Thursday, April 10, 2008
This letter is to make you aware of the "agreement" approximately three weeks ago between OFHEO, Fannie Mae, Freddie Mac and New York Attorney General Cuomo. This agreement is known as the Home Valuation Code of Conduct (HVCC). The Alabama Real Estate Appraisers Board requests that you reject any proposal by OFHEO, Fannie Mae and Freddie Mac to enter into this agreement on behalf of Alabama.
The HVCC as written harms the very profession it is purported to protect. The HVCC is constructed in such a way as to inevitably drive the appraisal ordering process through appraisal management companies (AMC's). AMC's generally cut the fees of appraisers, which in turn we feel will result in poorer quality appraisals. Because most of the more experienced and highly qualified appraisers will not accept the lower fees, the HVCC will likely force many honest, well-qualified appraisers out of business.
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Appraiser Scout Announces Official Launch
Monday, April 7, 2008
For the many offered suggestions readers had that were helpful in fine tuning the final product all of us at Appraiser Scout want to thank you!
Our web rankings have increased 43% this last quarter bringing our current Alexa traffic ranking to 410,898. To give you some perspective Yahoo has an Alexa ranking of 1 and Google is ranked a 4. Some other sites of note are godaddy.com which is ranked 409 and AOL which is ranked 57.
Some other appraisal directory sites are listed for comparison below.
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OFHEO/Cuomo Appraisal Fraud Agreement
Thursday, April 3, 2008
In case you’ve been living under a rock somewhere I wanted to share with you a summary of the March 3 agreements signed by OFHEO, NY Attorney General, Fannie Mae and Freddie Mac to promote appraisal independence. There is a lot of misinformation buzzing about. So first let’s start by reading the actual agreements. And also it is helpful to listen to NY AG Andrew Cuomo’s comments during the press release. Listen to Press Release Audio
Within the press release…” the parties also agreed to establish and the Enterprises fund an Independent Valuation Protection Institute (IVPI) designed to supplement current efforts to provide an appraisal complaint process, mediation of appraisal disputes and mortgage fraud reporting. The agreement seeks the comments of market participants that will be considered in making amendments to the Code during the implementation process”.
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