Cuomo Agreement Archive

Fannie Mae Announcement Addresses Several NAR Appraisal Concerns

Fannie Mae’s Selling Guide Updates and Additional Guidance on Appraisal-Related Policies, Announcement SEL-2010-09, addresses many concerns raised by the National Association of Realtors (NAR) regarding the Home Valuation Code of Conduct (HVCC) and the appraisal policies of the government...

Cuomo Suit Allowed to Move Forward

Yesterday, Reuters reported that the New York State Attorney General’s Office (NY AG) may proceed with its case against First American.  You may recall that First American’s appraisal management company (AMC), eAppraiseIT was accused of “having ‘caved’ to pressure...

FHFA Kills IVPI, Announces Complaint Process

In a letter to New York Attorney General Andrew Cuomo, the Federal Housing Finance Agency’s (FHFA) Interim Director, Ed DeMarco, announced that the Independent Valuation Protection Institute (IVPI) will not be implemented by Fannie Mae and Freddie mac.  The...

New Bill Urges HVCC Moratorium

Representatives Travis Childers (D-MS) and Gary Miller (R-CA) co-sponsored legislation, HR 3044, that will institute an 18-month moratorium on the Home Valuation Code of Conduct (HVCC). According to HousingWire.com, Childers’ concern is how the code is negatively impacting small...

Cashing in on HVCC

At least one company is seeing the financial benefits of the upcoming implementation of the HVCC on May 1, 2009. SharperLending, LLC offers Appraisal Firewall, which is a secure, online technology tool that allows lenders and appraisers to maintain...

Should you care how much money your appraiser makes?

This question was asked in a recent New York Times article. The article goes on: SHOULD you care about how much money your appraiser makes? That question is at the heart of a dispute in the mortgage industry, pitting...
March 23, 2009

Appraisers Upset Over New Rules

From Ft. Worth Texas, another article on the Home Valuation Code of Conduct: Money quote: Kenneth Jones, a Realtor as well as a 16-year veteran appraiser, said his options are limited if he wants to continue to work: join...
February 17, 2009

Questions about the Home Valuation Code of Conduct

I recently read through the comment section of the Revised HVCC blog post, and one of the comments in particular jumped out at me. It asked some very good questions and made some poignant comments. I thought I would...
January 2, 2009

HVCC Agreement Coming….Eventually

Today the Federal Housing Finance Administration (FHFA) released its 2008 Performance and Accountability Report. The 186 page document had a couple of brief paragraphs on the infamous appraisal agreement between Fannie Mae, Freddie Mac, and the NYS Attorney General...
November 17, 2008

Shot Through the Heart

A snapshot of what we learned while attending the 2008 Fall Conference of the Association of Appraiser Regulatory Officials (AARO) here in Washington, DC Pressure on Appraisers: Appraisers will be happy to know that generally lenders have greatly reduced...
October 6, 2008