Follow up to new Appraisal Guidelines

There is still a movement underway to attempt to halt the new legislation.
Here is a link http://capwiz.com/namb/dbq/officials/ where you can contact you state reps and
make you feelings known.

Here are other issues that I want to add to the list of reasons not to allow passage of this bill.
1. Because each lender will have ties to their own appraisal management company there will be a serious impact on the portability of the appraisal. Let's say a customer applies to bank "A", pays for an appraisal and then gets denied by bank "A". If he decides to apply to a second bank, bank "B", he may very well have to pay for a NEW appraisal because that appraisal management company may not be on bank"B"'s list.
2. The borrower will now have to pay up front for the appraisal via check or credit card directly to the lender. And because there is now a middleman (the appraisal management company) added to the process the appraisal fees will most likely go up!

This is legislation is not going to be in the best interest of the consumer, you and me!

I urge you to forward this link http://capwiz.com/namb/dbq/officials/ to your mailing list if you have one. Then click on the link and make your opinion known. As I stated in the earlier post, this could result in a serious impact on anyone who makes a living in any field related to real estate. And if you own a home or wish to purchase a home, this will affect you as well.