Congresswoman Maxine Waters and Congressman William Lacy Clay request a formal study/investigation into Title XI (FIRREA) and the recent dilution of its intent by the Federal Agencies. The letter to Gene Dodaro, Comptroller General, Government Accountability Office, addresses threshold increases, regulatory exemptions, appraisal waivers, the North Dakota appraiser certification waiver and evaluations in lieu of an appraisal. It is clear the Chairwoman of the House Financial Services Committee and Subcommittee Chairman on Housing, Community Development and Insurance see the issues surrounding the recent events.
This is a direct result from VaCAP and other coalitions being present at meetings and communication with our representatives. This is an excellent example of how we are making a difference! Getting them to listen is the first step.
See the News Release here.
Sticking with the theme of change. HousingWire published an article on the benefits of firing a difficult client. Although the article specifically talks to Realtor agents, the principle easily transfers to AMCs/ lenders and others who order appraisals. There are some really good points and the benefits far outweigh keeping that difficult client. See the article here.