Tuesday, August 25, 2009

FHA won't implement HVCC

A blurb from National Mortgage News:
The Federal Housing Administration has no plans to implement the Home Valuation Code of Conduct, Commissioner David Stevens told a delegation from the National Association of Mortgage Brokers.

I'll see if I can find the whole speech.

1 comment:

Anonymous said...

This news item seems to be in the spirit of "the more things change the more things stay the same"...HVCC threatens the feeding frenzy in low priced housing...the FHA/US government have now become a pbulic, taxpayer funded version of Angelo Mozillo...FHA loans are once again turing low priced housing into essentially costless at-the-money call options