Appraisers Heard at Highest Levels in Washington, D.C.
By David Brauner, Editor
According to a handful of appraisers and officials from the National Association of Independent Housing Professionals (NAIHP), who attended a high-level meeting in late January with Richard Cordray, Director of the new Consumer Finance Protection Bureau and his staff, many of the issues adversely effecting appraisers and consumers are being heard loud and clear by those in a position to effect change – so stay tuned.
“Our goal is for appraisers (and mortgage brokers) to gain back control of our businesses,” said North Carolina appraiser Peter Gallo. Gallo, Director of Membership for the North Carolina Ass. of Realtors Appraisers Section and Vice President of NAIHP, says he has not been able to compete for business based on the quality of his appraisal work in over two years, thanks to the Home Valuation Code of Conduct (HVCC), which removed mortgage brokers from the process and allowed appraiser management companies (AMCs) to fill the void. “This is the only profession we can think of where there are two licensed professionals in the mix- appraisers and mortgage brokers (licensed under the Safe Act), who are not trusted to work with each other and instead, where the business is turned over to unregistered middlemen.”