Aug 10th 2010 5:13PM
When President Obama signed the Dodd-Frank Act in late July, he ended the controversial Home Valuation Code of Conduct or HVCC, now set to expire in 90 days. HVCC was implemented in May 2009 by the Federal Housing Financing Agency "as an attempt to improve the independence of appraisers by prohibiting lenders and third... Continue Reading »
Feb 9th 2010 3:30PM
Heard of HVCC? It's not a heating and ventilation system for the home (that's HVAC), nor is it an infectious disease. HVCC is the Home Valuation Code of Conduct, a controversial set of guidelines established by Fannie Mae and Freddie Mac in May 2009. By setting up a sort of firewall between lenders and appraisers, in the... Continue Reading »
Feb 1st 2010 12:00PM
Greedy appraisers, who put lofty valuations on properties to please lenders and line their pockets, played a large role in the housing bubble. And the fallout continues: On Jan. 29, a former Beverly Hills real estate appraiser was sentenced to three years in federal prison for her role in a multimillion-dollar scheme to... Continue Reading »
