AMCs are out there fighting back. Here is an article in the National Mortgage News. “Appraisal management companies are not to blame for real estate deals falling apart, the chief compliance officer for the nation’s first AMC said in an interview. Donald Blanchard of Lender Processing Services, the parent of LSI, an AMC which has been [...]

The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct, Commissioner David Stevens told a delegation from the National Association of Mortgage Brokers.   The commissioner added FHA is looking at alternatives it feels would insulate appraisers from pressure from originators.

Appraisal reports are not being transferred  by lenders. The Home Valuation Code of Conduct (‘HVCC’) passed by congress has stated that appraisals should be portable from one lender to another.  However, in practice this is not the case.  I recently experienced mortgage wholesaler CMG Mortgage not transfering an appraisal.  Today, I read that some mortgage lenders are refusing to [...]

A new Center for Public Integrity report takes on crooked appraisers who, after being banished from their own business, continue suckering unwitting homeowners as real estate agents and as bosses of unregulated appraisal contract firms. From Business and financial news – CNNMoney.com  http://moneyfeatures.blogs.money.cnn.com/2009/07/26/real-estate-appraisers-take-it-on-the-chin/?section=money_topstories

CNNMoney.com:  The National Association of Realtors reports that 17% of its members say they have recently lost one sale due to an appraisal coming in way below a purchase price, and 20% of members say they have lost more than one deal because of low appraisals.