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HVCC Adios!

By
Real Estate Agent with Bennett Realty Solutions 625668

 

The Dodd-Frank Act was signed this week eliminating the current HVCC in 90 days. HVCC is the Home Valuation Code of Conduct. It is a joint agreement between FHA (Federal Housing Authority) & Freddie Mac to bring standards to appraisal process & protect loan orginators and home buyers with genesis in 2009.  new standards are schedule to be written in the next 60 days according to new reports. What does the mean for the housing market? it depends where you stand? Some independent appraisers are concerned they will be left out, if they not associated with a large lender. will the new standards assist seller and buyers with accurate apprisals? only time will tell.

 

Posted by

Akil Walker of Exit Advance Realty

8500 Westphalia Rd 

Upper Marlboro, MD 20774

Visit www.akilsellshomes.com

www.mdhomesavers.com

 

 


 

 

 

 

 

 

David Krichmar
www.DaveYourMortgageGuy.com - Legend Lending - Sugar Land, TX
DaveYourMortgageGuy.com

Thanks Akil for the update

Jul 25, 2010 08:34 AM
Steve, Joel & Steve A. Chain
Chain Real Estate Investments & Mortgage, Steve & Joel Chain - Cottonwood, CA

Akil,

Many in the industry have been "CALLING" for this for sometime. I'm sure they meant well when creating HVCC, but many industry professionals suggested it may have created more issues than it solved.

As you said, Time will tell" the outcome,

Steve

Jul 25, 2010 01:24 PM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Akil like you said only time will tell. Thanks for sharing this. See you this week man. Take care.

Jul 26, 2010 09:08 AM