Ar_home_b_search
 



appraisals: New Appraisal Guidelines from Fannie and Freddie 6-30-2010 - 07/07/10 06:23 PM

On February 15, 2010 The Federal Housing Administration adopted new appraisal guidelines that include "geographic competency" requirements.  Effective June 30, 2010 Fannie Mae adopted similar requirements, a move that we think is important.
The HVCC ruling came from NY Attorney General Cuomo and it is intended to protect appraisers from coercion from lenders.  Since May of 2009, large banks have been using the HVCC  (Home Valuation Code of Conduct) as a way to create "revenue" centers.  Because the ruling prohibits lenders to SPEAK to an appraiser (or email, txt whatever) Big Banks set up "companies" that collect (for instance) $450 for an appraisal, and then pay the … (43 comments)

appraisals: HELLO! Appraisers use foreclosures to value your home! - 03/04/09 02:06 PM
I wrote earlier that I believe one of the reasons that CREDIT SCORES are getting tighter in NC is because of a squeeze in values... This is a GREAT piece of information!

Via Mary Thompson Lake Lanier Appraiser in Georgia (LakeFrontPros.com):
Okay first let me BUST a MYTH out there. The administration is telling people that even though YOU are not going to get bailed out while your neighbor who is going through foreclosure is, you should be happy because YOUR home will not suffer further loss in value if we can get these foreclosures sold and no longer sitting vacant, etc.
… (6 comments)

 
Eleanor Ambassador_large

Eleanor Thorne 919-649-5057 Cary Mortgage Loans

Cary, NC

More about me…

Steve Thorne NC Mortgage Experts

Address: 111 Corning Road, Suite 230, Cary, NC, 27518

Office Phone: (919) 649-5058

Cell Phone: (919) 649-5057

Email Me

Web Analytics

Clicky



Listings

Links

Archives

RSS 2.0 Feed for this blog

Find NC real estate agents and Cary real estate on ActiveRain.