Making Things Worse

Representatives Travis Childers (D-Criminally Stupid)and Gary Miller (R-Stupid Criminal) have proposed an 18 month suspension of the Home Valuation Code of Conduct (HVCC), which is intended to reduce fraud in appraisals.

Unsurprisingly, in the world before politics, Childers and Miller were a realtor and a home builder respectively, and fraud=profits for that lot.

We know this bill sucks because of who supports it:

The National Association of Realtors’ Lawrence Yun says “stories of appraisal problems have been snowballing from across the country with many contracts falling through at the last moment.” The National Association of Mortgage Brokers proclaims, “Tens of thousands of consumers have already been robbed of their opportunity to enjoy historically low rates by Attorney General Andrew Cuomo’s rule.” The appraisal management companies, critics say, don’t seem to care if the appraisers they pick know anything about the neighborhoods in question.

This is a bad, bad bill.

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