Call to Action!! The Consumer Protection bill they have and are going to be working on is a conglomeration of both bills (See: http://msnbcmedia.msn.com/i/CNBC/Sections/News_And_Analysis/_News/__EDIT%20Englewood%20Cliffs/BaseText.pdf). Barney Frank said that the whole thing does not stand as it is and could be wholly amended. The current copy they're working off of is the base they will work from. They are meeting next Tuesday to start voting on the final form of the bill and will meet for 6-7 days. Per the base copy, Title XIIII Subtitle E appears to be the one for mortage brokers and LO's and they might want to weigh in on it. Title XIIII Subtitle F is where appraisers need to weigh in on with their representatives. They are starting the final voting next Tuesday and will be voting title by title. If they go by the numbers they will have to vote in over 2 titles per day which would get our Subtitle up at or near the last day. But, we should pay attention to the meetings as we don't know when our concerns will come up and it will likely go fast, so we need to weigh in.

Call (866) 544-7573 to be connected to your Senators. The following link will take you to a page where you can find contact information for your particular State Representative. http://www.house.gov/house/MemberWWW_by_State.shtml or you can just call the Senate number and ask to be transferred to your state House member.

We need to lay it on thick with calls and e-mails to be sure we are heard and concerns addressed as our concerns are for the health of this nation and not for a continuation of bailouts. Fannie and Freddie must be dealt with and the HVCC must be exposed as the piece of chit it is.

As far as writing your representatives, these guys get thousands of e-mails a week. Time is running short. It's best to actually call them - actually, flood them with calls IMHO. Their assistants that answer are nice and write down your concerns to actually give to your representatives.

One more thing, when you call your Senators and House reps don't talk about how whatever your concerns are will hurt or is hurting your business, the only way they'll listen is if we talk about how it's hurting the consumers, ie... additional fees, lack of choices, higher costs, non-portability, costly AMC delays etc.. .
You might want to mention that although the HVCC was issued in part by an administrative agency of the federal government, it did not go through the Administrative Procedures Act (APA) or the Regulatory Flexibility Act (RFA) as required of rules issued by administrative agencies of the federal government - it's illegal as it stands with absolutely no consumer protection.

Thank you for your participation and action. If anyone cares about their profession they better pay attention and contact your states politicians. Time is running out because when the Consumer Protection bill is done it can't and won't be changed and it will be law. It will take years before it will be questioned again - maybe until there's another melt-down. This is your last chance to be heard and to defend your profession and your livelihood. Take this message to heart

Thank you;

The four largest AMCs now control 80% of the lender business. Vitually all of the large mortgage lenders now channel their appraisal orders through AMCs. The fee structure for each AMC is what it is - take it or leave it.

Since 98% of the residential appraisal world is dependent upon lender work, we are forced to accept what the AMCs are willing to pay - take it or leave it. When we accept the lower fees out of necessity, the AMCs can claim that the low fees are customary for the area since 98% of the appraisers are now working for them. Its a Catch 22.

I know what my fees have been at various times in my 25 year carreer as an appraiser. I know that most AMCs are paying less than what was customary in my area 25 years ago despite the fact that more work is required today than ever to complete a respectable quality report.

I work in a complex market. I know what I was paid five years ago, prior to the AMC oligarchial system, and I know that it is unlikely that I will ever be able to attain a reasonable fee structure for quality appraisal work again. The experienced, educated appraisers who will do nothing less than high quality work are likely to continue to leave the business in droves once they figure out where to go from here.