HVCC, AMC’s and the Appraisal Industry; a view from the inside

Editor’s note – Last month we published an article about HVCC which drew quite a few comments and responses….one such response was from veteran appraiser Paul Collins in which he shares his frustration with the state of the industry and the impact of lenders and legislation on his industry. Our thanks to Paul for allowing us to publish his thoughts..

The good ole days of direct communication and the new day we are “living” both have the same problem. Appraisers are not a valued part of the process because there are no consequences for bad lending decisions. The last time a bank valued a competent appraiser was when the local bank kept the paper and was responsible for collecting and foreclosing if that loan went bad. A real and legitimate understanding of the actual value of a property played a part in a thoughtful consideration of the overall loan application. (It even included the capacity and willingness of the borrower to repay the loan! What a concept!) Continue reading “HVCC, AMC’s and the Appraisal Industry; a view from the inside