Just caught this entry from Bill Cobb, Appraiser, over his The Best Fannie Mae 1004 MC Software site. Thought the folks who read this blog might enjoy it. You may see the original post here.
If you’re looking for an online Form 1004 MC solution, you may want to check this out.
I hope you found this post useful! As always, if you or anyone you know is in need of a local Florida mortgage loan originator, I’m your guy. Call me at 888-859-7418 or apply online for your Florida mortgage. We’ll keep you posted and let you know when it’s time to pull the trigger!
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Well I sat through the Form 1004MC and HVCC class today here in Minnesota and my thoughts about the new HVCC are even worse. This is a total raw deal and all the while I think the good appraisers will continue to leave the biz. It’s no doubt that some fat needed to be trimmed in this industry, but now it may be for the wrong reasons. There are 2380 active appraisers here in MN now compared to 4500+ 2 years ago. This would tell me that the fee for appraisals should go up and all the while these AMC’s continue to dictate low fees and most appraisers allow for it, including myself. When will the AMC’s be regulated? They take zero risk!! No more! Appraisers need to make a stand. Appraisers take all the liability for too little pay.
As for the appraisal software from Bill Cobb…very cool. I believe another appraiser by the name of George Hatch also has an excel download in San Diego and another appraiser here in MN has a free download as well to fill in the 1004MC directly from the Minnesota MLS.
Kevin, man, seems like the class left you feeling worse rather than better. I’m sorry to hear that you feel Form 1004 MC is going to send some good folks packing.
Do you not feel that Bill’s software and others’ will lighten the load to “bearable” status? What do you think will happen with appraisal costs?
I think the software will lighten the loan considerably. It’s the new HVCC that scares me. While the HVCC is really nothing new, it’s all things everyone should have been following anyways, it’s just that it may force more AMC’s to control the biz which is never a good thing in my book.
Last blog post from MN MLS… What’s new with the Minnesota MLS
This is a great resource for sure. I would recommend it for anyone looking to learn more on how to deal with Form 1004.
How is the housing market in Florida doing compared to the rest of the country? I would imagine people still want to move to the warm weather despite the tough economic times.