Warning: include(workingpublication/header.php) [function.include]: failed to open stream: No such file or directory in /home/content/88/12027288/html/workingpublication/wp-content/themes/Accountancy/header.php on line 22

Warning: include() [function.include]: Failed opening 'workingpublication/header.php' for inclusion (include_path='.:/usr/local/php5_3/lib/php') in /home/content/88/12027288/html/workingpublication/wp-content/themes/Accountancy/header.php on line 22

Share your Post-HVCC Experiences

Appraisers called the real estate/lending collapse years before it happened, based on what they were seeing- liars loans, inflated values, excessive pressure, an over reliance and misuse of AMVs, but no one was listening. It’s our belief that those “in the trenches” know better than any expert about the health of the profession and, post HVCC, the ability of appraisers to fulfill their role in the lending process. For this reason, and at this critical time, WRE and OREP have established an HVCC Appraiser Talkback Blog and survey to give the profession a voice. Now you can share your first-hand experiences about life after HVCC with fellow appraisers, regulators and lawmakers here.


There are a lot of “expert” opinions circulating about the possible effects of the HVCC but you are the only ones who will know the net effect on the profession and on your practice. Our hope is that an exchange of first-hand experiences and lessons learned will have a positive effect on the profession and your business. Many regulators, lenders/AMCs and lawmakers also read Working RE, and their thoughts and perspectives are welcome too.

Share your experiences now.


84 Responses to Share your Post-HVCC Experiences

  1. Appraisal Advisor is challenging every appraiser in the nation to review at least 5 clients that you have worked with in the last two years. Remember that client that was so incredibly hard to deal with that you wanted to pull your hair out? Remember that client that was an absolute pleasure to work with?

    Appraisal Advisor provides appraisers with up-to-date, real time interactions with clients. We need your reviews to make that happen. Every time you complete an appraisal, make it a habit to write a quick review about your experience.

    Appraisal Advisor provides appraisers with similar techniques to what banks use before extending credit to someone. Generally, if an applicant has bad or unknown credit, the bank’s rates are higher.

    The problem most appraisers face is that they often don’t know about a potential client’s creditworthiness. If they did, the recent ES Appraisal, JVI, and AppraiserLoft debacles wouldn’t have occurred. But banks do have an idea by using credit reports. How do credit reports get created? Banks and other creditors submit all borrower histories to the credit agencies. We’ll be able to establish client payment histories and business practice reviews the same way, as long as appraisers like you submit reviews and invoice data through our system.

    What are you waiting for? Start reviewing your clients now

  2. Instantly view ratings by other appraisers about your existing and potential clients.

    Does your client pay slow, or not at all, and has that changed lately? Do they love silly stips and red tape? Do they understand turn time realities? Are their fees reasonable? You can find all these answers and more on Appraisal Advisor, clearly organized and presented, like a credit score, but for appraisers like you. And, it’s completely anonymous.

    Appraisal Advisor allows appraisers to find, rate, and review new and existing appraisal clients. In under two months, Appraisal Advisor has accumulated thousands of reviews about hundreds of clients. You receive orders from clients every day, and now you can know INSTANTLY whether or not that client fits your needs.

    Sign up today and see for yourself! The first 6 months are free, so you have nothing to lose! http://www.AppraisalAdvisor.com

  3. Ken Wise says:

    Gottcha!! That summarizes all the new requirements that keeping coming down from above. I’m really not convinced anymore that the regulators or secondary lenders really care about quality work. I think they want someone to point the finger at when a loan goes bad. We supposed to provide an “opinion of value,” that’s it. Heaven help us if we neglect to point out the property’s “pastoral view.”

  4. Sandu says:

    To Congressman Mike Fitzpatrick,

    We the Appraisers,
    The few and Proud and honest- I mean Honest
    We provide the fair market value estimate of each of the million of properties
    That are purchased/ sold in last decades
    Creating Huge profits to all bankers/ lenders/ middle persons, brokers,
    [ and in addition they got the stimulus money too ]
    Agents, investors and speculators, good money for all of those.

    Except for the person called Appraiser, Doing its job with high ethics
    And receiving the blames, and more blames, and more ‘guidelines on how- to – do ethical work’
    Yes, for decades,
    Excluding a deserving fair fee for his/ hers honest work .

    The mystical $300 fee for one family appraisal, for more than a decade,
    Was ‘given to every appraiser regardless of the appraisal complexity
    Just because was printed down of the mortgage originators’ form, decades ago.
    Free market free enterprise … it was moves the free people
    Except the American Appraiser

    Many appraisers are saying similar things in different ways, the bottom line is simple,
    Look at us, and see how un-ethical the American Appraiser is forced to conduct work, to make a living,
    While is being kept under the boot of ‘regulators, legislators, banks, politicians, presidents.

    I have believed long ago in very simple way to ‘regulate’ the appraisal industry,
    Before the state licensing days,
    Study, share your experience with the new appraisers, work hard and diligent,
    do your job well every day and sleep well at night,
    So you could enjoy life in America.
    Sad, but No – it is not an anecdote.

    God Bless America !

    Thank you Sir,
    Alexandru M. Pestesi
    917 650 3097

    • FJG // Apr 28, 2011 at 6:21 pm
    I will be meeting with Congressman Mike Fitzpatrick in approximately three weeks to ask for his support in stopping Banks and AMC’s from stealing our appraisal fees and to make sure the consumer gets what they are paying for.
    The Congressman is on the Financial Services Committee.
    It is my belief that this is the final showdown for our profession and I am not giving up on something I worked so hard to build the past 20+ years. Therefore I am personally taking action. Nothing will be Sugar Coated in this meeting.

  5. FJG says:


    I will be meeting with Congressman Mike Fitzpatrick in approximately three weeks to ask for his supoprt in stopping Banks and AMC’s from stealing our appraisal fees and to make sure the consumer gets what they are paying for.

    The Congressman is on the Financial Services Committee.

    It is my belief that this is the final showdown for our profession and I am not giving up on something I worked so hard to build the past 20+ years. Therefore I am personally taking action. Nothing will be Sugar Coated in this meeting.

    You can help me.

    I have created an email address for you to voice your concerns. I will PERSONALLY hand your concerns to congressman Fitzpatrick to further support our position.

    Please do something for your profession. Be professional but direct with your opinion.

    Send to:


    AMC’s, Lenders and Banks are raking in Millions of dollars off the backs of appraisers. Take five minutes to help yourself today.

    Frank G.

  6. SHER says:

    I am seeing comments regarding appraiser proximity. You may not be aware of the fact that AMC’s are now hiring full-time staff appraisers and that the overflow is all that is available for the “fee” appraiser. Beware!! This is an upcoming trend in the AMC model!!!!

  7. SHER says:

    I worked as a staff appraiser for a major bank from 2002 to 2009 (after the HVCC), then was “displaced” since the bank could no longer have “staff” do the appraisals (HVCC). We had been tracking trends in values since before 2002, and even was instrumental in developing the 1004MC with FNMA (World Savings Bank appraisal department). Since I was displaced, I had a choice of working for an AMC or start a “fee” business from scratch – the “fee” business was not appealing to me due to needing income immediately, so went with the AMC. The AMC pays me 48% of the total fee presently, wants the work compelted from 1-4 days from assignment, and pays nothing for expenses, gas, etc. I am getting stiffed!!! Now the AMC is attempting to turn into a legitimate business model and they are saying they will pay $10/hr and +/- 36% of the fee AFTER I do $5,600/mo in revenue. OK, they are going to pay $0.55/mile in mileage, software, office equipment (if needed ), and data. They are saying it will come out to be about equal to the 48% commission I used to get.
    Problem is, there is no way I can spend the amount of time needed to come up with a credible value and research the uniqueness of these properties for the time/money they are paying me. It seems that the AMC gives me the most rediculous properties (the odd-ball crap!), but gives the cookie-cutter stuff (if there is such a thing today) to a fee appraiser who gets more money per appraisal. In the end, I think that appraiser’s should rise up and take a stand AGAINST the AMC’S. I am thinking they are going to set us back +/- 30+ years in fees!

    Please blog about this on this website or to your congressman, etc. I know I am NOT a physician, dentist, etc., but THEY would NEVER allow this to happen to them! As I see it, we are just sitting back like sheep and letting things happen to us!!

  8. Jack S. says:

    Closed the doors to my 18 year old appraisal firm 2 months after HVCC took effect & 3 months after the 1004MC kicked in.

    No regrets. The appraisal “profession” has been heading down a one way street towards a stone wall for 17 months. The “profession” has no control over itself. Those in control (bankers) have but one thing on their mind: How can we make more money off the backs of the appraiser/slave/dumb asses.

    Enough said?

  9. fred vander wal says:

    I work alot with MDA solutions who in themselves are a decent AMC. However, today, I was put on a do not use list by PNC Bank because of the way I fill out the 1004MC form (I think). MDA would be the first to say my values/rationale/quality and turn times are exceptional.
    I’m looking for recourse here….where do I complain first, next, next and next because I am dying on this moutain.

  10. Brian says:

    Yes, the appraiser is partially to balme for lower fees by accepting them. However, there are areas that AMC’s dominate, and if you want work you have to accept what they offer. Another troubling aspect is that the AMC’s assign appraisals to appraisers that are 25 – 30 miles away from in a metro area. I live and appraise in the outer ring suburbs of a major metro area and am aware of appraisers coming from 30 miles away to perform appraisals when I am right here. I only cover 3 suburbs that are adjacent and very seldom have to go over 10 miles to perform an appraisal. This information about appraisers from 30 miles away comes from loan officers that I have dealt with for 20 years. The loan officers are not pleased with this situation either. My own home was appraised by an appraiser who lives in a neighboring community, 5 miles away. That appraiser used 5 lender mediated sales to compare my home to when there were 6 market sales within 5 blocks of my property. Appraiser incompetence, yes. But these are the appraisers that just want work no matter the fee or quality of work.
    In my opinion, appraisers have to stick together, but they never have. A short appraiser’s strike would bring lenders to their knees. From 1994 to 2004 I received
    $ 350 for a full appraisal and $ 425 for an FHA appraisal. Prior to that it was $ 325 and $ 375 respectively. Todays fees are much less in an area controlled by AMC’s. The big question is: how do you get appraisers to stick together when they never have in the past?

  11. RWS says:

    I hear and read complaints about appraiser fees.

    I hear that AMC’s are taking half of the appraiser’s rightful fee.

    NOT TRUE. What should be an appraiser’s rightful fee?

    Think about it, if you were an appraiser in the early 1990′s if your fee was $300. to $350.
    What should it me now?

    How much have cars gone up since then? Or, how about houses. Or anything else.
    Just look at what everyone else is working for compared to the 1990′s !!!
    If you caluculate the cost of living increases others have gotten in the last 20yrs, what would that $300. appraisal cost now?
    How about it could someone figure that out for me?
    Just take the % increase EVERYONE ELSE have gotten and see what an appraisal should cost now.
    Somebody get your calculator out and let me know.

  12. BrentB says:

    Post HVCC? My business is DYING! A lucrative business that I built from nothing with my hard work and integrity is now dying….a slow death. I pay to get my jobs from Appraisal Port—I pay 4 different MLS—I pay for insurance, software updates, new software, licensing fees, internet, etc etc.—–I get pressured to turn jobs in 48 hours from inspection, and then wait up to 90 days to get paid for said job. My work load has been cut to less than HALF of what it had been—-with complete areas that I have worked for 15 years being taken away ENTIRELY. I am watching Real Estate Agents do BPOs for lending purposes for $50 or more—-taking away even more work. I am pressured every day by the AMCs to work harder, faster for less money—-that is only IF I am at my computer within that 4 hour window to accept the scanty jobs coming my way. I live in a rural area 150 miles from some of my work—-but HVCC has cut that off because apparently after 15 years of working these rural areas, my distance now makes me unqualified. FHA is another avenue of work taken away from me—one day as a Licensed Real Estate Appraiser I was on the approved list doing great work—then HVCC kicked in and all of a sudden because I am not State Certified—I was no longer qualified—OVERNIGHT!

    HVCC is destroying the Independent Appraisal Business—quickly and thoroughly. I don’t want to quit—but I can barely pay my bills and support my family today. Before HVCC—-my business supported us quite well. I don’t know what I am going to do—I don’t even know if moving to a more urban area will help my business after reading on here. I wish someone could come up with a solution—-I am more than happy to help and be a part of it.

  13. sil says:

    For the past two years or so I tried to hold on to this business with everything I had. It was like being stranded at sea with a row boat taking in water. The new changes, Amc fees and turn time just did’nt cut it. Going back to a real job, the restaurant bus… good luck to all.

  14. Ex Appraiser says:

    With that being said….the sad truth is that the only solution to getting rid of AMCs and HVCC is a national appraisers strike against AMC work.

    The National Mortgage Brokers Association attempted to halt it with a lawsuit…which failed.
    Congress has attempted to halt it (and they did in the House). Unfortunately it will never make it through the Senate because Banks Own The Senate.

    Ask yourself one question. Would you prefer to bleed to death ever so slowly over the next year or would you be willing to make a stand for the career that you invested most of your life in.

    A NATIONAL APPRAISERS STRIKE…it’s the only solution that will work.

  15. Ex Appraiser says:

    Appraiser will learn to organize roughly 10 milliion years after pigs learn to fly. Don’t ask me why; they appear to be an intelligent group but they cannot do it. They’ve had two years of advance warning about HVCC and for the last year they have surrendered 50-60% of their income to bank owned AMCs. Are they any closer to have a national organization in place? Not even close. They continue to busy themselves with licking on the dry bones that are thrown to them and pretend that no problem exists.

  16. Bob says:

    I think that we as appraisers need to unionize to have one central voice. I am tired of accepting low fee appraisals but I need to feed my family. I wouldn’t mind working with the AMCs if they let us make our fee then charge the lender/client for their services. Why are they taking there cut out of our fees??? This is absurd!! We need to get organized as a group!! Any suggestions?

  17. Tom says:

    I think if it is ok for lenders to have a blacklist to place appraisers on (AMC’s can also), then it should be ok for appraisers to create an AMC or Lender blacklist. If we would all join in standing up to the unfair AMC’s then they will have to come around or go out of business. My guess is it would have to happen quickly or they will not be able to meet their unrealistic promise to the lenders that signed up with them. So the question is, whom can organize something like this and get the word out to every appraiser in the country ? Perhaps sites like this could take it on, Al a mode ? A combination or joint effort of our key players in getting information out to appraisers. All of our addresses are available from the board and, obviously, many continuing ed providers get them as they send out info all the time. If we all make an effort to identify the AMC that is trying to get us to accept the low ball fee, then we may be able to put the squeeze on them by joining together in not accepting any assignments from them thus eliminating them from the industry altogether. That would soon send a very loud message to all others that says, be fair – or be gone ! And for those appraisers out there that are accepting these lower fees from those AMC’s, believe it or not, you can benefit too. Because the fees will go up to what is reasonable and customary which will put more money into your pockets. Lets all realize the facts- too many loans are being done every day for the appraisal process to slow or stop. We can effectively halt the entire process in as little as a week. We can all endure a week of no pay if it means we get the system to work fairly. The end result will mean thousands, thousands, of more dollars in your pocket every year, all for a small effort. And by taking on the unfair AMC, you are only going without pay from them so they come around to playing fair. So whomever reads this, pass along the idea of the blacklist to as many appraisers as you can and post/email to companies like this and Al a mode to ask them to head up the challenge and get the site up and working and let every appraiser know about it. We can make a difference it we want to.

  18. Boone Smith says:

    As long as there is no accountability (and related enforcement) related to the individuals in the mortgage industry who’s fees depend on closing the loan, this entire industry will remain questionable, and we will probably remain the scapegoats. We do need to be rid of the unscrupulous appraisers, but how will that process be served by serving up the appraisal orders to the lowest bidder, without regard for quality?

    Re the AMCs, I received a call from “National Appraisals & Consulting” re an order and they offered the assignment at $275. I told them that I could comply with the prearranged inspection date for the next morning, but would not accept the assignment for less than $300. They agreed to pay $300, I inspected the property and submitted the report. I received a check a few months later for $105 and was told that they had deducted their “annual fee” from the amount they owed to me. Needless to say, I did not (and would never have) agree to pay a fee, but they were totally unwilling to discuss the situation. I received one other order from them, at the $275 fee, which I did not accept. Beware of this group, lest the same thing happen to you!!

  19. George says:

    An update, Fred!
    I thought I had a better deal with the desktop reviews. At $30, I might go crazy staring at the monitor but it was still $300.
    Got all this jive software today with passwords, formats, etc. The fee? $15. We are at the end of the line. Odd thing is the turn-time is more generous than for full appraisals.
    There was a December (December!!) when I made $9,000! I worked my butt off but it was a Merry Christmas. Now I might get a truck and plow streets!

  20. George says:

    Yep, Fred, doing desktops is an option. I’m doing a few for the same AMC I get most of my work from. They say they pay $30 but I’ll have to see.
    Got a really off the wall revision request…this guy couldn’t do basic math…and I told him so. Revision request came right back…like a bad penny. So I called the home office (or 1 of 2 out of 4 that were operating a year ago) and asked why I was being pestered about nothing. The answer was really no surprise.
    Reviewing is going off-shore…and this kid’s office is closing in two weeks.
    Someone is making money off this but the reviews will be nonsense (and never a phone number because the reviewer can’t speak English.
    This is not a profession; it’s a circus. Fees are non-negotiable, turn-times are impossible and I have no idea if my report really stays “my report”.
    Appraisers are in “the way” of the deal. AMCs just took a piece of the action and keep the appraiser at a distance. I make 1/3 of what I did 6 years ago…even working with AMCs! Someone’s getting the skin but not the appraiser.

  21. Fred says:

    Appraiser for 19 years. From an $80,000+/year income to $11,000 last year. I swallowed my pide and tried doing reviews for $15 each. I would need to sit at the computer 10 hours a day to make $200. At 57 years old where do I go now. There’s no bailout for self employed appraisers. Signed up with dozens of AMCs, not one order. My world has been destroyed by the criminals in Washington and Wall Street who caused this mess.

  22. George says:

    First off, as an aside; the grammar and spelling from you “professionals” is a disgrace. If you can’t spell or construct a sentence; maybe you are in the wrong business…or you’re drinking! Now, as to all of you calling for unions, strikes, etc.,…you have associations that supposedly represent you. You pay their salaries, for their “important” conferences…but nothing ever happens…NOTHING!
    How about quitting all these B/S organizations and see if the leaders will get out of bed with the AMCs and software slime and really do something. Appraisers offer nothing but minimal dues (I don’t) and the Al Cerones of the appraisal world laugh all the way to the bank!

  23. Adam says:

    Class action lawsuit???…..there is a ton of money in this and I bet there is some attorney out there with a vision of big bucks…..this is an in your face exploitation of a profession, legalized extortion, violation of RESPA on so many levels, the list goes on and on. Nothing more than a opportunity for the big boys to make the move at a perfect time with the collapse of the industry…..THE CAUSE OF ALL THIS WAS COLLUSION BETWEEN AN AMC AND A LENDER!!!!!! Hopefully there is an attorney out there with some stones.
    If so, if there is an attorney interested in retiring in a five year period, email me at acnydirect at aol.com. I have plenty of dirt on these people and have many peers that will be MORE than willing to ride this thing out.

  24. salvato says:

    This is real!!!
    This year, I worked 6-7 days per week , 8am to 11pm with some breaks in between…

    by end of year I am -$4,000 in the whole in my personal and business expenses.. gained a dozen anxiety attacks on my slow weeks, cut down to the bare minimum, no vacation time, no days off, worked 2 out of 3 holidays, no money saved.. It looks all ok when your getting work, till you slow down and realize you have nothing saved for your “rainy involentary days off or involentary vacation time. Comes dec, jan, feb your in the whole… Accepting a minimum fee for work is not enough to make up for any potential future lost days, which caught me by surprise and put me in a deep hole. We can only rely on a hand full of AMC’s whom now have the “Monopoly” in this business. That alone scares me. I come to the end of the year to realize I worked just hoping to get by day by day, and with more loss than gain come tax time/end of year… this is just not worth it..I come to realize there is only a realistic MINIMUM fee that I can accepted as a break even.. that IS $350.00 1 fam and $500.00 2 fam etc.. etc.. any less than this and an appraiser is litterely at a negative… unless he/she is supported by mom and dad and has free mls and software, e&o, and health ins, etc… It appears the old timers really had there fees down packed from the begining. No wonder.

  25. Erich says:

    It strikes me that the entire problem is that lenders sell all their paper. The secondary market is then stuck with the tab when default occurs and they immediately go looking for someone esle to blame. Not that this will happen, but if we went back to lenders filing the mortgage in the back room we would solve all the problems immediately. No pressure to hit values; honesty and quality would prevail. After 18 years of appraising, I finally narrowed my client base down to only lenders that held their own paperwork. Then HVCC and a stagnant economy came along and about 1/2 my business went away. If Fannie and Freddie would simply hold lenders liable for any “shady” mortgages, we could do away with AMCs overnight and the entire industry would become more reputable immediately. Yes, all the “do gooders” of the world would have a fit. People with bad credit and no money couldn’t buy a house. Hmm, maybe they could rent–kind of like the old days when you had to work towards buying a house and not just have some slimy lender give you a 100% loan–knowing very well it is a bad financial decision.

  26. Dave Rioux says:

    We are finding that lenders are getting more reviews of our work, which is OK. Except the AMC’s use appraiser’s that are the cheapest, from outside our market area who don’t have a clue what effects values here on the coast of FL. They “ding” our report causing us to spend countless hours “defending” our analysis and conclusions. I am sure that AMC’s are using appraisers from other market areas that meet there fee and unreasonable turn times. I feel this is a dangerous practice that will result in a host of problems for everyone, lenders. AMC’s and appraisers.

  27. Lori D says:

    I am on quite a few HVCC lists and I have not received any work…none…zip. Why is that? I cant market myself and/or my business, except to attorneys who are bombarded with appraisers who dont have lender work.
    I think there needs to be a law suit… against who, Im not sure… Mario Cuomo? Wall street for packaging the risky CDO’s? Standards and Poor for rating those CDO’s AAA? Bill Clinton, FNMA for opening up the housing market to people who shouldnt have owned homes in the first place?
    But our livelihood has been hijacked. We can no longer make a living. We can no longer market ourselves and do quality work and expect to grow our business from that.
    And to those happy HVCC appraisers…for some reason you are getting work, where as alot of us are not.
    Someone please tell me why many of us on these lists are not getting picked.
    If nothing else, we appraisers should be getting something from that stimulus package, whether it be money or free retraining for a different career.
    If this HVCC is not going away, then maybe there should atleast be a mandatory roster rotation so we all get work.
    Let me say it again….I have not received one assignment from any AMC.
    Are there any attorneys who think we have a case here?

  28. D says:

    My Experience With HVCC

    We watched revenue drop from $12,000 per month to around $300 per month between May 1st and August. We lost every bank client and mortgage company aside from 1. We’ve been in the business for nearly 20 years but closed the appraisal department after giving HVCC a test run. Past experiences told us that even if you receive a great deal of work today by cutting fees you will be quickly dropped from their roster if someone newer and cheaper came along (see recent post above).

    We’ve earned more money (and smiles) from shorting bank stocks and FNMA stock than we ever made in the appraisal business. Payback is hell? HVCC will be one of the largest factors determining whether the country enters a secondary dip. Once that happens (and I expect that it will) we will repeat our shorting strategy. Appraisers may want to consider this as a sideline to recoup some of their lost income.

  29. Joe says:

    Recommendation to the guy wondering where his AMC work went.

    Drop your fees down to $95 per appraisal. This should put you back into rotation for a few months.

    It’s a system that’s guaranteed to fail buddy…if you’re accepting AMC orders you are as much a part of the problem as the AMCs are.

  30. This is nuts.. says:

    I had been working with an AMC for almost a full year untill these recent three months. I was cut off cold. Not sure why as everything went out on time and we my “quarterly report card” was alway full of A’s. I had contacted the AMC management office on several occasions to ask if Im off the list or if there had been any issues that I should know of as I am no longer recieving orders. They said they didnt see any issues with my profile or reports, my fees were reasonable
    (yeah right), but they have been slow. I doubt this considering they were sending me 6-8 orders per week and one day just 0. This is also one of the larger banks. Well, I just recently spoke with an old friend appraiser of mine now certified whom lives in my area and coincidently just signed up for the same AMC three months ago, and coincidently is working my same areas, and coincidently is doing the jobs for an unreasonably cheaper fee …(although he’s complaining the fees suck (A HOLE), shame on him, dont know how the hell he’s doing it!)… and he showed me he has been steady busy for three months. Cant feed the family on just peanuts….. This industry IS nuts! Appraisers are taking the biggest hit and were doing it to ourselves. I might agree with the AMC skimming a small reasonable interest off the top for doing extra’s, but the fees they are offering dont even cover our expense, never the less, other things like a paid vacation or savings for slow/dead months.

  31. My comment is that I have been appraising for 22 years and have been very successful with numerous clients. I have never worked with AMC’s, because I did not have to. Now, after 22 years, I have no work. All the AMC’s I applied with have not given me a single job as of yet.

  32. Allen W Guidry says:


    HVCC UPDATE August 25, 2009:
    HVCC continues to devastate home values across the U.S. We fear that with higher Fannie and Freddie loan limits it will carry through to our former “jumbo” markets, leading the country even further into recession. As we’ve shared in the past, Representatives Childers (D-MS) and Miller (R-CA) introduced legislation (H.R. 3004) requesting an 18 month moratorium on the Home Valuation Code of Conduct (HVCC). H.R. 3044 now has over 54 co-sponsors and now is the time to forward our petition to every person you know and every representative in the country. Read some of the comments in the petition and you will soon understand the harmful nature of this horribly misguided code. Hundreds of thousands of consumers are being robbed of their opportunity to enjoy historically low rates by Attorney General Andrew Cuomo’s rule. HVCC needs to be permanently reversed in order to restore lower costs to the consumer and to protect the thousands of real estate transactions stalled by this horribly misguided code.

    Please sign and forward the following petition and forward to everyone you know in the industry and ask them to forward to their representatives: Sign-Here

    Learn more at our petition site here

  33. William says:

    It is good to see the “New York Times” article and the article in yesterdays Wall Street Journal.

    What about the destruction of many Appraisal Businesses to no benefit for the Property Underwriting process. [??]

    How about establishing a cross lender Regional Review process that would enable the creation of audit trails for quality control for Fair Market Value purposes and Fraud purposes. Each loan would be tasked by a review fee to pay for the sampling. Each Loan would be tracked by number [as required by the Fed.]. This approach would eliminate the need for Appraisal Management Co’s. This approach would enable the issues regarding a particular file such as Fraud, inappropriate Appraisal pressure, or Valuation issues to be resolved within the local market. Further this would provide the mortgage securities industry with the third party Value Audit vital for the “transparency” necessary for their transactions.

  34. Joseph C. Fisher says:

    PA Certified General Appraiser, AQB Certified USPAP Instructor.

    Everyone in this periodical seems to be of the same opinion and I agree. HVCC was founded and fomulated with good intnetions, that is to take the pressure off appraisers. Then along comes AMC’s with low fees and turn around demands that prohibit a through analysis of a property. If this keeps up, the mess that Mr. Obama inherited is going to look like kindergarten play. How do we as a profession get this matter directly into the hands of the President, Mr. Obama? I am certain that if he knew and understood the consequences of what has evolved as HVCC and AMC’s, things would change very quickly. Unfortunately, none of us can call the White House and request a personal meeting with the President. If any readers out there have any ideas relevant to the matter of getting this into the hands of the President, not some underling, it certainly would be great information.

    Joseph C. Fisher
    PA Certified General Appraiser
    AQB Certified USPAP Instructor

  35. SIL says:

    I agree with David, he makes a great point. Our service is one of the most important pieces of the pie and is well reconized, yet, there are knuckle head appraisers whom are not educated or experiences enough to realize the worth of our services and belittle with greed and acceptance of low fees. For those whom have worked this industry, we know through past experience and conversation that AMC, lenders, attorneys, the us gov, etc…realize the importance of the appraisal in this industry, after all we did make headlines. They understand and agree our service is worth more and has the highest liability/expense than most any other piece of this pie, and yet we are paid / accept the lowest fees??? If every appraiser stopped doing appraisals, banks would not lend as the risk would be to high and no one to hold accountable. With this in mind, WE, as business people, should relize the power of our services and demand the right price. The question I ask myself is what is stopping so manyfrom doing so?? Must we form a coalition and lobby in order to be heard and reconized??

  36. David says:

    Certified Residential Appraiser, NC: The HVCC does not apply to appraisers, but to lenders. It has proliferated the use of AMCs and has promoted their purpose, whether intended or not. However, nothing has given more power to AMCs more so than the real estate appraiser. Appraisers simply do not understand the value of the “appraisal” in the overall lending process. They do not understand the Value Theory of Business and those who make decisions to accept the lower fees, ridiculous turn times, and allow the AMC to MANAGE their business are affecting the businesses of those who consider themselves to be true professionals who possess a sense of business and value contribution to the lending process.

    Try the following and see what results you get. Walk into a Doctors office for treatment. Tell the Doctor you are only going to pay $50 total for treatment, and this is not a co-pay, it’s a total of $50. You’ll immediately be told to “take a hike.” The Doctor knows that you will not get treatment for that price from another Doctor. You’ll simply do without treatment!

    This scenario may also be contributing to the low fees accepted from AMCs. An appraiser trains new appraisers and the trainees’ fee is $150. And suppose the fee, after experience is gained, reaches $175. The overall fee as an example is $350. The trainee, once licensed or certified, sees an opportunity to establish their own business. Keep in mind, it is very cost effective to register a company name, buy your own software and E&O, business equipment (which nearly everyone has anyway), and work out of your home. The newly certified appraiser sees this….”I can make $75 to $100 more for an assignment on my own versus working for my supervisor.” This is where the lack of business experience creates poor decision making and the decisions made by these inexperienced individuals becomes detrimental to other appraisers. Many appraisers have no clue as to what it cost to operate their businesses. I see this as a huge dilemma for those who do know.

    I recently made the following calculations regarding who is paid what in the loan process. It is based upon a loan of $175,000. The lender/investor is excluded as we all know their profits are astronomical. This scenario assumes mortgage brokers get 1.5%.

    Broker – $2,625, or ……….. 1.5%
    Realtor – $10,500, or …………6%
    Attorney – $600, or ………..3/10 of 1%
    Appraiser – $275, or ………..1/10 of 1%

    Let’s look at the contribution of the appraiser AND the appraisal in the lending process.

    I’ve applied my own scenario afterwards to show how appraising compares to the discussion.

    The following writings are from mathematicians and business scholars who have won Nobel prizes or have made contributions to the business and economic worlds. They include John Nash, John von Neumann, Adam Brandenburger, and Barry Nalebuff. The theory states, and by the way is proven to be true:

    The definition of added value is, “Added value equals total value created with you in the game, minus total value created without you in the game.” Consider the mortgage lending process as a “game.” A key concept of the “game” theory of business is added value. This theory states that if competition is left unfettered, no player will get more than his or her individual added value in a game. Thus, added value allows us to characterize who has power and who does not. It allows us to understand how the pie is created and how it is divided. Following is a way to think about creating value and capturing value. Understand, there is a dual purpose here. The first is where appraisers have failed, in my opinion.

    1. CREATING VALUE is an inherently COOPERATIVE process. To create value, people CANNOT ACT IN ISOLATION. They have to recognize their INTERDEPENDENCE. The IMPORTANCE OF THE PRODUCT, good, or service CREATES THE VALUE.

    2. Capturing value is inherently COMPETITIVE. Single entities wishing to capture value will make the individual determination as to the value of the product to be captured. Creating value that can be captured is the essence of business. However, one must realize, when more and more players contributing similar products enter the game, individual value can be diminished. This is competition.

    For example, what is the added value of the glass that makes up the screen in a laptop computer? Without strong and lightweight glass, there would be no laptop computers. So, the added value of the glass is the same as the added value of the laptop computers, which is enormous. The only problem is that there are several makers of computer glass. So for any one of them the right question is not what is the added value of glass, but what is the added value of their particular glass.

    Here the answer tends to be pennies, reflecting small manufacturing cost advantages. The computer makers would not miss any one manufacturer very much. Of course, that would be changed if one of them could develop a glass that was even slightly less likely to break than that of its’ rivals. A broken screen renders a laptop practically useless. Thus, the added value of a tougher glass would equal the whole pie multiplied by the reduction in the chance of breakage, which is likely to change the value of the particular glass to dollars per computer rather than pennies. What this illustrates is the gain from thinking about one’s added value over the value chain (the laptop computer) rather than one’s link in the chain (making glass).

    Now, let’s rephrase the above scenario to apply to the mortgage lending “game.”

    What is the added value of the appraisal that provides the property condition and value to a lender? Without an appraisal there would be no mortgage loan. So, the added value of the appraisal is the same as the added value of the mortgage loan, which is enormous. The only problem is that there are countless appraisers providing appraisal services. So for any one of them the right question is not what is the added value of the appraisal, but now becomes what is the added value of the individual appraiser.

    Here the answer tends to be pennies, reflecting competitive pricing for similar, undifferentiated services. The lenders or AMC’s/VMC’s would not miss any one appraiser very much. Of course, that would be changed if one of them could develop a means of completing quality, mistake-free reports in two hours rather than two days at lower fees. No appraisals renders the loan process worthless. Thus, the added value of a more reliable, faster, and cheaper appraisal would equal the whole pie multiplied by the improved service, which is likely to change the value of the particular appraiser to dollars per appraisal rather than pennies. What this illustrates is the gain from thinking about one’s added value over the value chain (the mortgage loan) rather than one’s link in the chain (the appraisal).

    This is a clear indication that the value within the mortgage lending process, or “game,” is the appraisal, not the appraiser. Lenders and AMC’s/VMC’s do not consider the value the individual appraiser provides to the process as they have injected their own guidelines that every appraiser must follow. Simply meet those guidelines and you have an acceptable appraisal, regardless of the quality of the data content. AMC’s/VMC’s primary goals are to find the cheapest and quickest, and those who can follow guidelines.

    For now, think of the “game” as a “pie” consisting of several “slices.” Each slice represents the entities involved in completing a mortgage lending transaction. They would most likely include: 1) the lenders; 2) the borrower; 3) the attorneys; 4) the AMCs/VMCs; and 5) the appraisal. One must ask, which slice of pie contributes the most value to the pie, and if that slice were removed, what then becomes the value of the pie? Remove the lender, no money, no loan. The pie becomes worthless. Remove the borrower, no loan. The pie becomes worthless. Remove the attorney. Deeds can still be recorded. Title searches can still be made. The pie may retain value, but the real effect is undetermined. Remove the AMC/VMC. Value is not affected. Remove the appraisal. The pie becomes worthless. However, replacing the appraisal slice with a multiple slices called “appraisers” diminishes the value of each appraiser slice of the pie. If one appraiser leaves the pie there are countless others to fill the void. The slice entitled appraisers has lost value until such circumstance arises where all appraisers leave the pie. At that point the pie is once again worthless.

    We are not an industry, we are a profession. And until we realize this and act as a profession rather than as individuals, we will never reach a plateau similar to that of Doctors, attorneys, or other highly skilled professions. I, for one, do not allow others to manage my daily business operations. I do not allow others to coerce, pressure, or intimidate me. I consider myself a professional and my business a profession, not an industry. I, like Doctors, provide a much needed service that has economic ramifications tthroughout the U.S. If that’s not responsibility I don’t know what is.












  38. It seems to me that regardless of the amount of pressure pout on us by Loan Officers, it is up to us to say no. We don’t need the HVCC, we need enforcement of USPAP.

    We are getting just as much pressure now, this time from AMC who have to keep their clients happy. And the consumer gets a lower quality appraisal for a higher price.

    BTW …. when will the IVPI be implemented??

  39. Bill Couture says:

    My business for the past forty-four (44) years has been real estate. I entered the real estate appraisal field around 1968. Much has been learned from my association with other real estate appraisers who included employees, partners and competitors. We have learned that all forms of lenders seeking lower fees and faster turn times have been willing to settle for appraisers with no geographic competence. This practice has been commonly used for some years, however today it is more common than ever. AMCs handling accounts for the largest banks (with lender approval) hire appraisers who will travel 100 miles or more to appraise property where they have no geographic competence. Their data is presented exactly the way it appears in MLS services with no additional research to confirm its correctness. Although it only affects my practice to a small degree, I feel for those younger, less experienced appraisers who are willing to take the time necessary to present a quality report for a reasonable fee. Good appraisers are reluctant and some refuse to take the too distant assignments. It is doing extensive damage to the entire industry.

  40. SDMike says:

    I’m a Trainee and haven’t been in the business that long but what I’ve seen from the HVCC and the results it’s spawned, amazes me. When you take a huge number of Mortgage Brokers (a business opportunity for appraisers), eliminate them from the opportunity list and now force appraisers to focus on AMC’s and lenders, it cuts the business opportunity down by about 90%. How is that helping the nation’s economy??? I just read that the state of Colorado just posted a 50% loss in the number of mortgage brokers who’ve either gone out of business or just turned in their licenses. Again, how does that help the economy?? California is posting losses of 15% in the number of appraisers who are not renewing their licenses! It has to be that way nationally, I’d expect. As a trainee, my opportunity to get my hours toward licensure has been reduced by a huge number. How do Cuomo and his flunkies, expect to replentish the number of lost appraisers in the industry over time? I know, not his problem. He’s just dealing with the problems in the mortgage business by blaming someone else and creating some ham-fisted type of legislation (sort of) to kill off everyone and let God sort them out later. I’m an AI member too but quite honestly, don’t see AI management doing anything to remedy the situation. There is a huge problem here and everyone is turning a blind eye towards it, especially those who are supposed to be on our side. This is a crazy business with no help coming from anyone that I can tell. It’s like drowning…

  41. sam says:

    The solution is quite simple… It is obvious many of us are disappointed with the mngt fees. Unfortunatly, there are many appr out there whom will take a low fee. These guy are either part timers or simply desperate at this point..I regret to say I simply know of a few, Since we or most, are all “desperatly”submitting to this low fee thing, working our buts off and realizing we could be doing better taking a cut in pay and working a 50 hr a week job with benefits, payed vac , days off and less stress, and because of fear of loosing business to the appraisers who are willing take on low fees, here is the strategy…( and it works).. stay on board with several 2 OR 3 etc, AMC’s ….whatever fees may be, your really not getting on board for their low fee business. The AMC who pays the best at the time should get the better end of your time… turn time, quality, work acceptance etc… And simply TURN DOWN the other AMC’s who want to pay the least $$ for the order that day, or if accepted already, simply put that order to the side, send it in real late…. but dont loose them, you’ll get a dozen calls that week. Once your getting a good work flow from the BETTER FEE AMC, call up the louzy AMC’S AND PUT IN FOR A REASONABLE FEE INCREASE (you really cant afford to work for them anyway)… These AMC’S are in business and competing just as we are… They Eventually will realize the importance of competing with other AMC’s with respect to paying out the right fees, and turn time ….. As appraisers and business people, we would be stupid to take on a report that day for an amc that offers a lower fee than one who is willing to pay a higher fee… SO THE NEXT TIME, SIMPLY BEGIN TO TURN DOWN A FEW LOWER FEE ORDERS ( for the hell of it)… (THIS WILL DRIVE THEM NUTS, ESPECIALLY WHEN THIS THING GETS GOING!!) AND TAKE ON THE HIGHER FEE ORDERS FROM THE AMC THAT GIVES YOU THE JOB THAT WEEK.. LET THEM WAIST TIME HUNTING FOR A LOW FEE APPRAISER… THE AMC’s will BEGIN TO CATCH ON TO WHAT WE ARE DOING AND GO INTO COMPETITION WITH THE HIGH FEE APPAISERS OR JUST RAISE THEIR CLIENT FEES!! THERE IS NOTHING TO LOOSE ON THE APPRAISERS END EXCEPT A LOUZY FEE FOR THAT DAY ( OR A LOUZY COMPANY)….. ITS CALLED MINIPULATING THE SYSTEM,, AFTER ALL THIS IS WHAT THE SYSTEM IS DOING TO APPRAISERS, IF WE ALL BEGIN DOING THIS IT WILL WORK AND YOU’LL STILL BE ON BOARD WITH ALL YOUR AMCs, EXCEPT WITH FUTURE EXPECTATIONS ONE DAY OF BEING CALLED WITH THAT HIGHER FEE YOU PUT IN FOR!! STICK TO IT. …THE FEW GUYS WHO CONTINUE TO ACCEPT THE LOW FEES WILL BE GETTING THE SHORT END OF THE STICK AND WONT BE ABLE TO HANDLE THE LOAD ANYWAYS AND WE’LL SIMPLY GET WHAT THEY CANT HANDLE AT REASONABLE FEES.. ..we are actually reversing the roll here… They are hunting for the lowest fees, we should be working hard on the individual reports with higher fees and turning down the lower fee reports… we need to pick and choose our work orders from here on as AMC’s pick and choose appraisers…

  42. charles walker says:

    i’ve been an appraiser for 23 years, almost all of my business has been with mortgage brokers, 6 of my companies for over 15 years. all of my relationships i have built are gone, in essence probably my business. what ever happened to free enterprise. i will not work for an amc, will not do split fees and also will not pay for back ground checks. i am 62 years old and my appraisal business is my life. there is not much demand in the market place for 62 year old men, without my appraisal business i am dead in the water as i am sure that many other appraisers are also in. the individuals who instituted the hvcc should be ashamed as it is apparent that the appraisal industry will suffer more than any other entity. many long time appraisers are going to be forced out of business.
    do the people who instituted hvcc know that appraissal assignments, by amcs and lenders, are put on the internet on a first come basis, or that amcs put orders out for the lowest bidders, or that some amcs will not accept the licensed appraiser, al designation, to do appraisals.
    for the sake of myself and fellow appraisers i pray to God that this whole situation gets over turned.

  43. jerry says:

    When is this all going to end. I had a client call me this am and complain the AMC wanted and open ended credit card for his appraisal fee. they had already charged him $695 for an appraisal of his new home. I am able to do it for $275 because I have done it once before and was able to offer a discount. The mortgage company refused to hold back the fees to the amc. The amc just wants to rip off the consumer. When is all of this going to stop. I had and established 26 year business. I am facing bankruptcy and about to lose my home. I have already lost most of my business and am barely hanging on. Im sending my SRA back as the present and past leadership of the Appraisal Institute is in bed with the AMC’s. I hate that moron in the white house. and Blarney Frank too. Try to get an email to those bozos and see how far you get. Welcome to the united NAZI states of NO obamaland.

  44. Ron says:

    I am really frustratedd with the refecent implementation of the HVCC with respect to selecting appraisers. Some lenders have begun using a software program that selects appraisers randomly. This has brought into the picture\s anyone who lists a zip code, city and/or county to perform appraisals. There are appraisers coming into my prime service area from several miles away that have called me for comps, etc. Competence/ due dilegence, market knowledge????? What really hurts is that in the over 25 years, I have completed appraisals on several of the properties. Further, this has increased the pool of appraisers and lowered my share of business by a considerable amount. Lenders relied on and trusted me inthe past. Now I’m put into the likes of trainees, incompetents and …… This is ridiculus.

  45. wade gibson says:

    I have read the other responses & most of them are negative to HVCC.
    I have also lost business due to HVCC, but this is just a tempory blip in the evolving industry. After +35 years in the Appraisal Profession I have seen/experienced numerous changes in the business, most being negative to my income.
    In the prior 5 months I have received at least 10 emails from “new” AMC’s wanting me to sign up. However, upon investigation of their critera, it was my determination that their “designated fee, turn time & payment schedule” was UNREAL-ISTIC & I did not submit any of the requested data, as they will be utilizing the basic data to market their services, IE, we have 3000 appraisers to perform your needed appraisals. Even though business may be down, don’t be too ready to reply to these solicitations, as you may be undermining your goal of having a profitable practice. Along time ago, when I went to school, the basic premise of any business was 3 points, quality/service/price. You can have any 2 of these points. However, due to USPAP, quality is not a negotiable point (unless you don’t mind going to losing your State Certificate or going to prison). That leaves service & price. If price is the main factor, then service (turn time) becomes irrevelant, if service is the primary factor, then price becomes irrevelant. The AMC’s do not seem to understand these basic points of any successful business, but we/appraisers need to recognize them. I have utilized these basic priciples of business & still make a decent living (not getting rich but able to pay my bills).
    Of course, the AMC’s sales staff will be trying to compete by offering the Lender a lower price for our services & in return expect us/appraiser’s to take the hicky in regards to our fee. In other words, it is our/appraiser’s due diligence to ask these questions and decide if we are willing to work for these reduced fees & unrealistic turn times. In other words, it’s up to us to say NO. I have had some of the past & present AMC’s that I have/still do business with tell me that they do not receive the fees that I charge & they have asked me to take a lesser fee. I have responded with a definate NO. 80% if the time they will call me back within 3 days & say that the Lender is now willing to pay my fee & greater than 24Hr turn time. Try this stategy, it works.
    Take it from an Old Dinosaur, this too will pass & the strong will survive.

  46. MAX IN TEXAS says:


  47. Who regulated Barney Frank? and Cuomo? No one !! Neither of them have any idea what we do as appraisers. If anyone was able to get inside these companies I would not be surprised to find out who has a vested interest in them. It seems this is politics as usual. This is the same old BS. I am on so many lists get tons of mail about all their anticipated work, yada yada yada, but never even a first order in years. This is more of the power grab evident in washington to try to socialize every aspect of our lives. How can any appraiser be truly independent when they squeeze our fees, have no liability, no regulation and dictate the entire real estate market. Before long you wont be entitled to make a profit real estate unless they dictate it or clear it with BF.

  48. Mark says:

    I have been an appraiser for 12 years, When I first began I did do work for E-Appraiseit, It was the only work I could get. I worked endless hours and countless nights trying to build a small office and a good business to provide for my family and leave somthing behind for my kids. Over the past 10 of those years I have trained 7 other appraisers and they have been able to provide for their families just as I have. On Friday May 1st, I lost the last of my good clients to a national management company. To this point (May 21st) I have lost 80% of my business. My only option may be unemployment line and a new line of business. I still keep intouch with my clients and I have seen a large number of BAD reports that have come from these management companies and the appraisers who work for them. I am not saying that management companies are all bad, I think they are a good thing for the large national banks that don’t have time to go looking around for local appraisers. Hell I worked for one. But to give them all the work and take away what I have spent so many hours and nights building is WRONG. Now I will be told how much I have to work, how much I’ll get paid, and if I don’t comply NO WORK. What I want to know is how our government can let this happen, WHAT A JOKE! See you in the unemployment line

  49. SAM says:

    Bite with no teeth. Thats what I think of my fellow appraisal industry. I occasionaly read the appraisal forum and only see wanna be, einstiens and rocket scientist with alter egos and aragents. We’ll, were are your teeth to bite into the AMC low fee epidemic. Its apparent, AMC are in business to search for the lowest fee possible. They all make commision and the lower the fee, the higher the reps commision and AMC profits. All this at our great EXPENSE. Appraisers fee has to compensate for many expenses including those that are not apparent, such as benefits, paid vacation, sick days, disability, 401k etc etc. If our fees dont cover the “invisible Expense” we’re practically better off making 40k a year as a porter in these coops we appraise. WOW, Paid vacation, no worries, stability etc…. WE NEED TO UNITE (like Union) AS APPRAISERS. WE NEED TO FIND WAYS OF MAKING OUR FEES STANDARD AND UNIVERSAL. To all those whom think this business is for the intelligent scholars, well, reality has’nt hit you yet. You’re replaceable with lower fees and its working. Is pithetic. Every man for himself. And shame on those appraisal co. who portray themselves AMC’S and give fee splits as rediculous if not less than real AMC. They are just making it worse for the rest. AMC are good, but let them pass the comm and prof expense on to the clients and banks, not the appraisers. Get real.

  50. Carlos says:

    I have been appraising for 22 years. I started at an S & L making $1,500 per month and getting trained without any pressures and being able to review and look at appraisal completed buy 1000′s of appraiser’s and learning the good and bad that appraiser’s do. What we, as appraiser’s need to do is to be able to have a unified voice and take control of our industry. After the S & L crisis, which again was blamed on the appraisal industry, was born the USPAP and licensing. Now it was my understanding that each state would be in charge of making sure appraiser’s received education, training, (if new appraiser’s can find someone to train them), and disciplining the bad apples. Now it seems to me, that the states have not lived up to their end and our money for licensing is not being used wisely. I have reviewed horrible appraisals and turned them into my state, never to hear from anyone. I have been self-employed for 15 years and have had up 7 appraisers working for me at times. For the last 6 years I have been a one man shop and have clients dating back 15 years with me. What I have found, and believe to be one of the major reasons AMC are here to destroy our Profession is that appraisers are very cut throat. My clients always know if they need to push a value, they do not ask me, they know they can find someone from out of the area to do it. Or when work is hard to come by, there are appraiser’s who cut their fee to a ridiculously low fee. Like some others have suggested, if we could unite, from a union, etc, we could then decide, as a whole, how much we charge and how the appraisals should be completed. Taking a month vacation and/or calling a strike would really do wonders but unless the whole industry complied, it would only allow the low end appraisers to grab business. I am most likely taking the month of May off and seeing what happens. My gut feeling is that their will be chaos this summer and something’s will change. I know my broker clients are not happy not being able to order appraisals from me and already have nightmare stories about AMCs they have tried. My last thought to everyone is LET’S UNITE and take control of our needed industry.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Warning: include(workingpublication/footer.php) [function.include]: failed to open stream: No such file or directory in /home/content/88/12027288/html/workingpublication/wp-content/themes/Accountancy/footer.php on line 65

Warning: include() [function.include]: Failed opening 'workingpublication/footer.php' for inclusion (include_path='.:/usr/local/php5_3/lib/php') in /home/content/88/12027288/html/workingpublication/wp-content/themes/Accountancy/footer.php on line 65