mortgage news: Adios to the HVCC?
- 11/01/09 03:10 AM
Did all the complaining work? It appears that the controversial Home Valuation Code of Conduct (HVCC)–an appraisal system that was the brainchild of Fannie Mae and Freddie Mac and caused much aggravation amongst Realtors, home buyers and sellers, mortgage brokers and appraisers–may be thrown out the window. The House Financial Services Committee approved a bipartisan amendment last week that would terminate the Code and replace it with a new set of rules and creation of a new Consumer Financial Protection Agency. The new rules would apparently not be as confining upon appraisers, a problem that caused many property appraisals to come (6 comments)