NAR_grey_logo-01

Cashing in on HVCC

At least one company is seeing the financial benefits of the upcoming implementation of the HVCC on May 1, 2009. SharperLending, LLC offers Appraisal Firewall, which is a secure, online technology tool that allows lenders and appraisers to maintain their current relationships while also maintaining compliance with HVCC.

Dave Black, President and CEO of SharperLending, LLC in the article said: “With Appraisal Firewall, local and regional banks, credit unions and appraisers can bring their established relationships to the platform to maintain compliance. With HVCC compliance and the related buyback obligations for non-compliance, many lenders want more control over their appraisal process to make doubly sure they are compliant with the objectives of HVCC. And especially in this economy, supporting your local business is hugely important. Appraisal Firewall accomplishes both.”

SharperLending also maintains a relationship with DartAppraisal.com an AMC that boasts of nationwide coverage and helps lenders with “out of area needs”. The article notes “DartAppraisal.com is one of the preferred providers of HVCC-compliant appraisal services on SharperLending’s settlement services technology platform.”

Comments
  1. Tim

    Adverstisment for another data collector. Same business model. Align with an AMC, although I am not sure what gives DartAppraisal the “preferred status”, obtain some discount appraisal work, steal the data and sell it off. If anyone happens to see a March issue of Computer World magazine pick it up. There is an article about the SAD state of regulation on data collectors and sellers. With the admisitration putting into place a brand new regulator of internet security and communications the collecting,storage, use and sale of intellectual property is numbers #1 and # 3 on their top ten most important things to do right now. I am not an avid reader or know much about Computer World magazine but I do respect the opinions of people who know a lot more than I do when it comes to technology. The implenentation of the HVCC will be big paydays for specialized interests and big banking. For actual seasoned, professional appraisers its a pink slip.
    We have already been shown the door this is just the last littel push. I am thinking we need an AMC for appraisers to do nothing but reviews of AMC Appraisal reports. Kinda like factcheck.org. At least the consumer would have a fighting chance and a place to go to have an appraisal independently reveiwed. And every one of those 48 hr, $150, bogus reports be sent immediately to the state board and the name of a good attorney to represent affected borrowers. Of course that would entail a borrower actually getting a copy of their report which they rarely do.

  2. David

    I would guess that several thousand appraisal companies will be “Cashing Out” because of HVCC this year as well.

  3. James

    AMC’s aren’t a solution to the issues. If the gov’t is going to establish more regulations for lenders and leaning toward instituting entities that have no regulation what sense does that make? A “backbone” by appraiser colleagues is part of the solution, but also stiffer penalties on mortgage brokers and lenders alike for induced pressure. It can be correllated to education in focusing on ethics in all of the professions involved.

  4. Jeff

    May I suggest to all those who are making well informed and logical comments to also make those comments to any e-mail address from any of the “More appraisal resources” section of this page. I think it’s pathetic that all the professionals in an industry can so unitedly disagree with a policy or rule change that has actually been adopted. Speak your minds, annoy people until their ears and eyes bleed. This type of garbage is not productive, nor necessary.

  5. Mike Harrison

    Plan on an extra 2-4 weeks for closing. If you had experience with appraisal management companies you will know what I am talking about.

ADD YOUR COMMENT