Has anyone heard about this?  Received an email today from StreetLinks:

"FHFA formally announced the final version of the Home Valuation Code of Conduct with implementation required by May 1. Clearly, this will have a major impact on all facets of the mortgage industry... Specifically, the code prohibits:

• Direct contact between a loan originator and an appraiser.
• Passing an expected or desired value.
• Requesting estimated values or sales comparables prior to completion of an appraisal report.
• Direct payment for appraisals to appraiser by origination-related personnel

"The Federal Housing Finance Agency (FHFA) has formally announced the final version of the Home Valuation Code of Conduct (HVCC) to be implemented by May 1, 2009.  As expected, the code specifically addresses appraiser independence, pre-valuation requests and the passing of any expected value by a loan originator."

To find out more, click on the following link: https://www.streetlinks.com/hvcc.nsp?utm_source=uni&utm_medium=em&utm_campaign=hvcc

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Regina P. Brown
Broker, Realtor®, e-Pro
Author of eBook "Stop Foreclosure Fast: Solutions to Save your House"

Text copyright © 2008 R.P. Brown, All Rights Reserved