Yesterday the House pasted HR-3146 which is better known as the the 21 century FHA reform act of 2009. The odd thing here is that this bill only had five sponsors or support of Congressmen. Currently HR-3044 now has eighty six sponsors and looks to being held up by the office of Barney Frank from going to a vote. The HR-3044 is the HVCC appraisal process that continues to cripple the Real Estate Industry.
The current administration has spent billions on propping up the economy and yet very few of us have any additional money in our pockets. Needless to say most of us live with the fear that we could be laid off at anytime. So where is all of the money going? Maybe we need to get the kids that broke the Acorn story to investigate Barney Frank. I am not saying he is doing anything wrong here but why does he want to force us to use this ridiculous HVCC process? Does anyone contributing to Mr. Frank have an interest in the HVCC Appraisal Management Companies?
These companies are keeping as much as 60% of the appraisal cost. Their job is to take a request for an appraisal and assign it to an actual appraiser that will do 95% of the work. This hardly seems fair to the people doing the work. And what about the consumer that is now paying up to 75% more than they did for the same appraisal prior to the May 1st 2009 implantation of the HVCC. This HVCC issue is a good idea in principle bout the current form is doing more damage than good.
You can reach Mr. Frank at his office by phone at 202-225-5931 or you can email him at https://writerep.house.gov/htbin/wrep_findrep. Even if you do not live in Mr. Franks district he is still your Congressman too. All Congressmen take an oath to all of us and very few live up to that oath. Please let him know your opinion.
The HBMO supports the reversal of HR-3044 and ask that you at least review the video on what the HVCC is all about. The petition is also available here if you would like to support the reversal of HR-3044.
Petition link http://www.hvccpetition.com/SignPetition.aspx