Some good news and clarification on the Home Value Code of Conduct - HVCC that has been getting so much press lately. Many agents were blaming the new standards in causing additional problems for successful appraisals. Overall while change is difficult this is a good thing for the consumer.
The National Association of REALTORS® addressed many concerns with New York Attorney General’s office, the Federal Housing Finance Agency, and Fannie Mae.
The two important clairifications are
- Lenders should use appraisers who have clear experience in a local area
- Appraiser is not prohibited from talking to real estate agents.
Please view the resource material below for more information.
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Thanks for the two points of clarification. We were just discussing this in our meeting. Great resource, keep it coming!
Thanks for the two points of clarification. We were just discussing this in our meeting. Great resource, keep it coming!
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