The HVCC as mentioned above is just another example of good intentions gone bad. One of the biggest problems facing our country right now is the flood of new laws being put into place. Because of the state of the economy and incorrect opinions about what got us to this place, many politicians are creating laws based more on what they think will get them more votes instead of looking taking the time to really understand the problem so they can properly fix it.
Here is the inherent problem with trying to solve the problems in our country with more rules. Every time you create a new law, you create more loopholes for people to get around the laws. All the laws really do is increase the cost of doing business for those professionals who continue to operate in a legal and ethical way already. Someone who is currently breaking the law, will just end up breaking the new laws.
What we really need in this country is more common sense. Instead of creating new laws, why don’t we just give more power to those who have authority to enforce the laws we already have. Before the HVCC was put into place, it was against the law for any lender or mortgage broker to influence the value of an appraisal. The real problem was that if an appraiser felt that he or she was being pressured, they didn’t have a strong enough system put in place to give them any power to stand up to that lender or broker.
One more thing; if a law is created and at some point it becomes obvious that it is a bad law, let’s just get rid of it. We don’t need more laws to get around the bad one.
As always, if you would like to see what it feels like to work with a mortgage broker that can bring a little sanity to an insane world, give The Kunselman Team a call.
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