News Sources wrote an interesting post today on
Here’s a quick excerpt
A bill in congress would suspend a set of rules designed to reform the relationship between mortgage brokers and appraisers. The Home Valuation Code of Conduct, which went into effect on May 1, prevents lenders from directly picking appraisers for Fannie Mae and Freddie Mac secured mortgages. This was aimed at eliminating conflicts of interest suspected of inflating home values. Under HVCC lenders must contract with third parties known as appraisal management companies which then select the appr

Read the rest of this great post here

This entry was posted on Tuesday, July 14th, 2009 at 4:27 pm and is filed under Mortgage Loan News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.