Earlier this month, Scott Tennell, Vice President, Florida Mortgage Professionals Association sent me an email asking for the support of real estate appraisers in their lawsuit against the FHFA and HVCC. In part, Scott is asking appraisers to join their fight . . .
"I am writing to you today because I am a member of the NAMB (National Association of Mortgage Brokers) and the FLMPA (Florida Mortgage Professionals Association, the official Florida affiliate of NAMB).
Long story short, NAMB is currently preparing a lawsuit against FHFA, FNMA, FHLMC, and the New York attorney general regarding the HVCC. While the independent broker is vulnerable, so are many residential appraisers who built their businesses serving reputable independent firms. Through various conversations, we have learned that residential appraisers do not have a true national voice in Washington DC.
Realizing the HVCC is just as devastating to residential appraisers, NAMB is reaching out to those residential appraisers who want to protect their business and / or there professional fees. This lawsuit is going to cost six to seven figures. In addition to monetary support to defeat the HVCC, we are looking to grow the number of members in our organization so when we are in DC or Federal court in this case NAMB can say we represent XXXX members including appraisers."
Download NAMB_HVCC_Donation_Lawsuit_Appraisers
I agree that we have some common concerns with the HVCC. I also agree that the NAMB, individual appraisers, and the various appraisal organizations should join forces in their lobbying efforts.
However, NAMB officials (IMHO), in recent press releases and articles, have not been real flattering in their remarks about appraisers. As I’ve read those remarks, I’ve thought . . . Why would they say those things when we COULD be allies??! Take a look at the attached letter and let us know YOUR thoughts!
You know the old adage . . . “Keep your friends close . . .and your enemies closer!” Appraisers and Mortgage Brokers have a tenuous business relationship. In this case, I think we should join forces, but the NAMB needs to show more respect for appraisers in their public remarks and policies!
Author: Brian J. Davis, RAA - Brian Davis & Associates - Brian has over 25 years of appraisal experience in Central, IL and hosts the Appraisal Scoop blog, WinTOTAL Users Group, and Appraiser's Water Cooler network.
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