![]() Banks should be held accountable for the quality of the appraisal.ĪMC/HVCC appears to violate RESPA (Real Estate Settlement Procedures Act) since a large portion of the appraisal fee is actually going for something else coming off the market rate fee of the appraiser.Appraiser’s fees should be market driven.Banks should pay for the services received from the AMC’s.Appraisers and borrowers are paying for services the banks receive.Regulators are disconnected from the problem just like they were when mortgage brokers controlled the ordering of appraisals during the credit boom.Appraisers, Realtors, Brokers HATE the HVCC. ![]() ![]() Here’s a summary of the his article before you read it: His solution is compelling.Īnyone who reads Matrix knows what I think of the Appraisal Management Company and the Home Valuation Code of Conduct (HVCC) problem in today’s mortgage lending world. I was provided an interesting solution to the AMC appraisal issue from Tony Pistilli, a certified residential appraiser who has been employed for over 25 years in the appraisal area, at governmental agencies, mortgage companies, banks and has been self employed.
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