No HVCC for FHA Loans and AR Member Mike Mueller on TBWS

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Real Estate Mortgage Broker with Los Angeles & Ventura Counties in CA

I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.

Today's video was especially informative.  There is a segment where FHA states that they will not be subjecting the HVCC appraisal process to FHA loans because, and here's the best part, IT DOESN'T WORK! 

So all those lenders out there that are subjecting FHA loans to HVCC (I've run across a few), you better rethink your business practice with this particular process.  I would love to see someone challenge this one in court.

There is also another segment on AR member, Mike Mueller, and his post Banned by Facebook!  Check out Mike and his post - it's really good info to know for those who think they can conduct their business on FB.

Anyway, here is today's video and I hope you enjoy it as much as I did.  I want to also suggest checking out some of their more recent ones too.

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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 Donne Knudsen

Realtor® - CalState Realty Services

DRE#: 01364050 / NMLS#: 249822 

 

805.2069123

 

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Serving low-medium income individuals and families as well as first time buyers with both their real estate as well as their mortgage needs including down payment assistance

Los Angeles County  --  Ventura County

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Rainmaker
792,599
Lyn Sims
Schaumburg Homes
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago

Donne, I stopped back and thank you for your good advice.  Actually I did a market survey and it's 1/3 FHA 2/3rds CONV at this point.  I guess I'll be making some phone calls.

August 26, 2009 06:22 PM
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Judi K Barrett
Broker/Owner, Integrity Real Estate Services -IDAB
Judi Barrett~Integrity Real Estate Services~Idabel, Oklahoma

Donne, it seems that there is always something that we have to contend with these days that just does not make any sense.  Thanks for the link.

August 26, 2009 06:50 PM
Rainmaker
598,584
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Lyn - It does seem like we (Realtors & LO's) are working harder than ever these to make it all happen.  I spent the better part of my day today making calls and making sure I had all of my prior to doc conditions in by a certain hour so that I have a better chance of ordering docs and closing one of my escrows by the end of the month.  My ear is ringing from all the phone work and I still feel like the phone is hanging off my ear as I sit here typing.  All in a days work.  :)

Judi - You said it!  Some days the insanity is so outrageous you just have to laugh so you don't cry.  Anyway, I'm glad you liked the video.  These guys are a little crazy sometimes but they do seem to be able to put the craziness of the industry in perspective.

Thx for stopping by ladies; I really appreciate it.  Have a good evening.  :) 

August 26, 2009 07:05 PM
Anonymous #15
Anonymous
Anonymous

Donne, I posted on this too. Amen to David Stevens for his honesty and sound judgement. Like you said though the big banks that own the AMC's are raking in the bucks and they're not about to give up that gravy train so easy. In the meanwhile we'll all get to scramble through this. In the big picture the problems HVCC causes in the lending process has an impact on our economy and that will have to be addressed or dealt with, sooner or later.

September 10, 2009 09:13 PM
Rainmaker
598,584
Donne Knudsen
CalState Realty Services
Los Angeles & Ventura Counties in CA

Gynell - "they're not about to give up that gravy train so easy".  ISN'T THAT THE TRUTH?

I'm sure the big, national, retail banks that own AMC's will fight that to the bitter end.  I'm sure HVCC has been a godsend for them.  As for when they will be dealt with, I'm hearing it'll be sooner rather later.  Let's hope they get what they have coming to them.

Thx for stopping by; I appreciate it.

September 10, 2009 09:51 PM
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Rainmaker
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Donne Knudsen

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