Bill Introduced for 18-month HVCC Moratorium
July 3rd, 2009
Categories:Real Estate News
The H.R. 3044 bill was introduced this week to put an 18-month moratorium on the Home Valuation Code of Conduct!
This is very exciting news as the HVCC has been viewed by many as a poorly thought out program to a problem that needs a quality solution.
Since the HVCC took place, it has increased the costs to consumers and decreased the quality of appraisals. Neither of which are helping today’s housing market get back on its feet.
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3 Myths vs Realities in the Home Valuation Code of Conduct
July 2nd, 2009
Categories:Real Estate News
The Home Valuation Code of Conduct (HVCC) took affect on May 1st, 2009. Since its implementation lenders, Realtors and appraisers have been making a lot of noise over the new rules and are starting to petition its reversal.
The Appraisal Institute recently published an article attempting to clear up the misunderstandings surrounding the HVCC. They do this by listing the myth they are attempting to bust and then the “Reality” as they see it.
Lets look at some of their explanations in closer detail. Here is the link to download the Myths and Realities pdf.
Here are 3 of the myths they chose to “bust”:
- HVCC Requires Lenders to Use Appraisal Management Companies
- Loan Officers are Prohibited from Communicating with Appraisers
- Licensing of an Appraiser Ensures His or Her Competency
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