Hi folks, it’s been another interesting month in the mortgage business.  Add to the underwriting delays, unexpected rate hikes and general frustrations of originating mortgages – HVCC has been an absolute nightmare. When I saw the NAMB Call to Action , I took a few moments to document my personal HVCC experiences and sent out the following via email to my database.  I think it would be great if all of us did the same thing, because at the end of the day it’s the consumer who ends up losing out. I am a mortgage broker in Atlanta Georgia. I have been in business for myself for 12 years now. I am writing to share some concerns about the implementation of HVCC that we have experienced since its implementation on May 1st. Let me highlight some of the larger issues: 1) The appraisals are taking significantly longer to be completed than when I could order my own. The consequence of this is that we can’t lock in our interest rates for the consumer until we have the report in our hand because a) we don’t know whether we would meet value and b) when we will actually receive the report (time frame). As you know the shorter the period we can lock the rate in, the better the rate we can obtain for the consumer

Overcoming Objections with Scott Evans: HVCC Edition