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  #1  
Old 01-07-2009, 02:42 PM
Pamela Crowley (Florida)'s Avatar
Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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Default Freddie Mac RE: New HVCC effective 5/1/09

http://www.freddiemac.com/singlefami...valuation.html
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  #2  
Old 01-07-2009, 03:33 PM
Randolph Kinney Randolph Kinney is offline
 
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Location: SoCal
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Default

This helps, mortgage brokers still have a direct contact with appraisers:
Quote:
The sale of the following mortgages is excluded from the representation and warranty: FHA/VA Mortgages, Section 184 Native American Mortgages, and Section 502 Guaranteed Rural Housing Mortgages.
Oh well, half a loaf is better than a poke in the eye ...
Quote:
We will work with the New York State Attorney General, FHFA, Fannie Mae and other mortgage market participants regarding the Independent Valuation Protection Institute (Institute). The Institute has not yet been established, and therefore, the provisions regarding the Institute are not yet effective.
  #3  
Old 01-07-2009, 03:54 PM
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Mike Kennedy Mike Kennedy is offline
 
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Omitted from the Q&A

What actions should an Appraiser or Borrower take when a Lender or AMC employee appears to be violation of the HVCC? ( see comment on the IVPI above )

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Old 01-07-2009, 05:12 PM
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Bigrock Bigrock is offline
 
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Default What AMC wrote this,,,

No COD,,,

I say Class Action is the only way to go....

I love the enforcement Mechanisms,,oh,,what enforcement....

This is the end of Residential appraising.....
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File Type: pdf hvccfaqs.pdf (38.3 KB, 25 views)
  #5  
Old 01-07-2009, 05:17 PM
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Bigrock Bigrock is offline
 
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Default

looks like Correspondent lenders will be able to manage the appraisal process if they stick to the HVCC...

Am I correct in this view???
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