Capuano Appraisal Services blog

The HVCC code is now gone replaced by the Frank-Dodd Bill.   Most everything is the same, except for the new regulations (greatly needed) for Customary and Reasonable Fees.   Those AMC's that have been low balling appraisers out of business are going to find themselves in big trouble if they continue there monopoloistic practices.  The new bill had some really great language that calls out the AMC's.  Many AMC's have been forcing appraisers to say that the fee is "customary and reasonable" as a condition to getting the appraisal order.  The Frank-Dodd Bill addresses this specifically and says that they understand that this statement means absolutely nothing and will not prevent the AMC's or lenders from possible fines!!  As far as the other rules go, they are great.  All the things good appraisers have always done.   All good appraisers never have let themselves be swayed to change a value.   We all know that our reputation and career are on the line with every report.   

Anyways, more to come as things clarify...