Petition RE the Interim Final Rule on Appraiser Independence
The National Association of Independent Housing Professionals (NAIHP) led by Marc Savitt is petitioning the Consumer Financial Protection Bureau and is asking those harmed by the Interim Final Rule on Appraiser Independence to sign and forward the online petition.
To Consumer Financial Protection Bureau (CFPB), Richard Cordreay, CFPB Director: Allow NMLS loan originators to order appraisals directly from appraisers
Consumers and small business are being significantly harmed by the Interim Final Rule on Appraiser Independence. Consumer costs have increased by over 2.8 Billion dollars a year; thousands of small business residential appraisers have gone out of business, as the rule diverts appraisal orders to often unregulated middlemen-owned by the large banks and others. Since the rule was implemented, valuation fraud has increased over 50% and it has led to the continuing depreciation of home values.
The petition can be found here.
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Nice petition…poor platform (Change.org). Unless things have changed dramatically the Change.org platform is down more often than it’s working.
Thanks for the thought NAHB. We know you have your own motives but as an ex appraisers I appreciate every tool available for voicing my disgust about HVCC & HVCC 2.0.
Kill the AMCs appraisers and you may have a chance of reclaiming your lives.