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Home Valuation Code of Conduct (HVCC)

“To help enhance the integrity of the home appraisal process in the mortgage finance industry, in March 2008, Fannie Mae entered into an agreement with our regulator – the Federal Housing Finance Agency (FHFA) (then the Office of Federal Housing Enterprise Oversight) – and the New York Attorney General’s office to adopt certain policies relating to appraisals for loans delivered to us. Following a public comment period, the Home Valuation Code of Conduct has been modified and will be effective for single-family mortgage loans (except government-insured loans) that are originated on or after May 1, 2009, and delivered to Fannie Mae.”

You can find the Code of Conduct with FAQs at https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/appcode/

The code of conduct does not apply to other valuation methods (i.e., automated valuation models AVMs, broker price opinions BPO’s, tax assessments, etc.)

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Posted by Eureka Expert on May 1st, 2009 and filed under Housing, Lending. You can follow any responses to this entry through the RSS 2.0. You can leave a response via following comment form or trackback to this entry from your site

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