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Progress being Made with the HVCC Moratorium.....

By
Mortgage and Lending with Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 NMLS ID# 158606

I received this yesterday.  As people know, I'm so passionate about the damage that HVCC is doing to not only the real estate market, but invariably the entire United States Economy.  I know that they are working on putting an 18 month moratorium on HVCC.  Sure, I'm OK with some oversight, but the way that the government is rolling this thing out is horrible for everyone.  Here's the lastest. 

Please Sign the Petition Below if You Haven't already!

URGENT HVCC UPDATE:

HVCC Continues to devastate home values across the US. We fear that with higher Fannie and Freddie loan limits it will carry through to our former "jumbo" markets, leading the country even further into recession. As we've shared, Representatives Childers (D-MS) and Miller (R-CA) introduced legislation (H.R. 3044) requesting an 18 month moratorium on the Home Valuation Code of Conduct (HVCC). H.R. 3044 now has 22 co-sponsors and now is the time to forward our petition to every person you know and every representative in the country. Read some of the comments in the petition and you will soon understand the harmful nature of this horribly misguided code.

ThinkBigWorkSmall applauds the introduction of H.R. 3044 and would like to thank Representative Childers (D-MS) and Representative Miller (R-CA) for their continued efforts and leadership on this issue but it is not enough. Tens of thousands of consumers have already been robbed of their opportunity to enjoy historically low rates by Attorney General Andrew Cuomo's rule. HVCC needs to be permanently reversed in order to restore lower costs to the consumer and to protect the thousands of real estate transactions stalled by this horribly misguided code.

Please sign and forward the following petition and forward to everyone you know in the industry and ask them to forward to their representatives: www.hvccpetition.com

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Comments(1)

Scott Geary
Infinity Home Mortgage Company Inc - Allentown, PA
Your Pennsylvania Mortgage Source

# 68270

We need many, many many more. Thanks Larry! Trash like HVCC and many many many items our government seems to arbitrarily decide for us little people has gone on way too long. Good to see a little grass roots action.

Jul 23, 2009 06:26 AM