home valuation code of conduct: Appraisals - An Attempt To Help By The House Of Reps - 06/27/09 11:44 AM
Yesterday a bill was introduced to the House calling for an 18 month moratorium on the Home Valuation Code of Conduct (HVCC).
Q: What is the Home Valuation Code of Conduct (HVCC)? See my post below called "Great Income and Credit? Watch Out For The Appraisal" and read down to about the 7th paragraph.
The National Association of Mortgage Brokers is applauding the introduction of this bill, and I have to say I join them. Just since its introduction in May, it has been blamed for delays and additional costs to homeowners and would-be homeowners all across the country.
The bill … (0 comments)
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home valuation code of conduct: Warning: New Appraisal Rules As Of May 1 - 05/02/09 10:49 PM
As of Friday, May 1, 2009 - there is a new rule that will directly affect most everyone trying to purchase or refinance a home.
The Question: Will this new rule help or hurt homeowners, or do we know yet?
The Details The rule is called the "Home Valuation Code of Conduct" but is referred to in the industry by it's initials H.V.C.C. The HVCC is the outgrowth of a lawsuit filed by New York Sate Attorney General Andrew Cuomo designed to "improve the reliability of home appraisals," according to FHFA, Fannie and Freddie's regulator. Fannie Mae and Freddie Mac have agreed to adopt the … (1 comments)
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