The National Association of Independent Housing Professionals continues to press for a bipartisan effort to replace the interim final rule on appraiser independence,
"We think this is going to work," he told attendees at the conference in Tarrytown, N.Y. "We think this is the right time."
Savitt said while some regulatory officials oppose the move, saying, "We don't want to go back to the old ways," others support it. He also said the rule the group is trying to replace has created problems and increased some forms of fraud.
Among the changes the NAIHP is seeking are rules that prohibit ownership interest in appraisal management companies on the part of lenders and a more "level playing field" in terms of regulation managing conflicts of interest in this area, rather than regulation the group feels unfairly singles out mortgage brokers.
