Act Eliminates Hvcc in 90 Days

Summary


Legislation is the elimination of the Home Valuation Code of Conduct (HVCC), effective 90 days from the act's signing.

HVCC was implemented in May 2009 by the Federal Housing Finance Agency with hopes of protecting appraiser independence by prohibiting any party with interest in a transaction from selecting the appraiser to be used on a transaction.

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Extract


Act Eliminates Hvcc in 90 Days

This had disastrous affects on many transactions. Among the ...

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