New Appraisal Standards in 2009...Is the Government getting too involved in the process?

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Real Estate Agent with RE/MAX Advisors West & RE/MAX Resources

I'd like to hear what everyone thinks of the new "Institute" that is being started for appraisals in Jan. 2009?

Fannie Mae & Freddie Mac are funding this for 5 years to cease their investigation from the New York Attorney General's Office. 

If anyone knows more of the process of the "Institute" please post.  It seems to me value checks would be eliminated and the process of buying a home for the average consumer just got even more confusing.

Read Freddie Mac's Home Value Protection Program and Cooperation Agreement below:

http://www.ofheo.gov/media/agreements/3308FreddieAgree.pdf

 

Read Fannie Mae's Home Value Protection and Cooperation Agreement below:

http://www.ofheo.gov/media/agreements/3308FannieAgree.pdf

 

 

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Rainmaker
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John Williams

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