Federal Legislation Archive

Valuing Energy Efficiency in Appraisal and Underwriting

In March, a joint study by the University of North Carolina at Chapel Hill Center for Community Capital and the Institute for Market Transformation (IMT) found that owners of ENERGY STAR-rated homes are one-third less likely to default on...

FHA to Codify Certified Appraiser Requirement

The US Department of Housing and Urban Development (HUD) unveiled a proposed rule in the Federal Register to ensure the agency’s rules conform with the Housing and Economic Recovery Act (HERA) of 2008. The proposed rule requires that appraisers...

Mortgage Brokers Left Out of Process in New Appraisal Code

The Frank-Dodd Wall Street Reform and Consumer Protection Act sunsets the Home Valuation Code of Conduct (HVCC).  The Code is set to sunset upon promulgation of new appraisal independence requirements due out in October. In a recent announcement by...
September 21, 2010

TAVMA Asks for Delay in Fee Provision of Frank-Dodd

On August 25, 2010, The Title/Appraisal Vendor Management Association (TAVMA) sent a letter to the Federal Reserve Board (FRB) requesting that implementation of the customary and reasonable fee provision in Title XIV of the Frank-Dodd act be delayed.  The...
September 7, 2010

Here’s What You Need to Know About HR 4173

As you surely know by know, the President recently signed into law the Frank-Dodd Wall Street Reform and Consumer Protection Act (HR 4173).  Title XIV of the legislation, the Mortgage Reform and Anti-Predatory Lending Act, has significant appraisal reforms...

House Offer Includes Sunset of HVCC

In an announcement yesterday, Chairman Frank released the House Offer on the financial reform overhaul bill.  Language in the offer includes consumer protection, risk retention, mortgage reform and anti-predatory lending. The proposed amendment for Title XIV includes the provision...
June 22, 2010

HR 3126 Passes House Committee with HVCC Amendment

On October 22, 2009, HR 3126, the “Consumer Financial Protection Act of 2009,” passed the House Financial Services Committee with an amendment that will ultimately sunset the Home Valuation Code of Conduct (HVCC). The amendment was offered by Representative...
October 23, 2009

NAR Supports Appraiser Independence in Recent Testimony

The 2009 National Association of Realtors President, Charles McMillan testified before the House Financial Services Committee on HR 1728, “the Mortgage Reform and Anti-Predatory Lending Act of 2009″ last week. While discussing the legislation, Mr. McMillan specifically addressed Title...

House Leaders Question Mortgage Appraisal Plan

House leaders are questioning Obama’s mortgage refinance plan, which relies heavily on BPO’s and AVM’s. From the New York Post: Another aspect of Geithner’s plan that is being questioned by lawmakers involves the house-appraisal mechanism the White House proposed...
March 16, 2009

New Farm Bill Restricts Access to Data

In the recently enacted Farm Bill, there is a provision that makes it more difficult to access data from the United States Department of Agriculture – Farm Service Agency. The provision (Section 1619) was enacted to address privacy concerns....
October 27, 2008