Thursday, July 23, 2009

FHFA won't drop the new appraisal process without a fight.

The regulator overseeing Fannie Mae and Freddie Mac came out swinging in defense of HVCC. Maybe since HVCC is designed to protect the lender and the taxpayers are now on the hook for the GSE's the FHFA is thinking that the HVCC is actually a good thing (imagine that!).

This was a three page letter in defense of the HVCC, It looks like the NAR will have a fight on their hands to try and get the HVCC moratorium put in place. The NAR has a lot of politicians in its pocket but the FHFA not backing down is a big roadblock.

No comments: