Given that the Federal Government has recently placed Fannie and Freddie in Conservatorship, many appraisers are wondering what impact this will have on the Home Valuation Code of Conduct.
My guess is that this recent take-over will either kill the HVCC or will severely reduce its impact. Cuomo still has his potential lawsuits he can use against Fannie and Freddie. And thus, Cuomo still has some pull in getting the GSE’s to agree to a Final Code. However, Fannie and Freddie are clearly in such a precarious position that I can’t imagine any Federal Agency is going to allow them to agree to something that may potentially harm them financially. And thus, any Agreement is going to have be written in such away as to have a limited impact.
But that’s just my guess, anyone else have a different take?