Freddie Mac Archive

Federal Reserve Board Issues Appraiser Independence Regs

Yesterday, the Federal Reserve Board released an interim final rule on appraiser independence.  The much-anticipated interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).  In their release, the Fed states...
October 19, 2010

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

FHFA, GSEs Unveil Uniform Mortgage Data Program

Yesterday, the Federal Housing Finance Agency (FHFA) announced a new initiative by the government sponsored enterprises (GSE) Fannie Mae and Freddie Mac.  The Uniform Mortgage Data Program is a joint effort to create uniform data standards and collection processes. ...
May 25, 2010

NAR Calls for Implementation of IVPI

On April 6, 2010, the National Association of REALTORS (NAR)® President Vicki Cox Golder sent a letter to Federal Housing Finance Agency (FHFA) Interim Director Edward J. DeMarco asking that the government sponsored enterprises (GSEs), Fannie Mae and Freddie...

Freddie Mac, Fannie Mae Update HVCC FAQs

The government sponsored enterprises (GSE), Fannie Mae and Freddie Mac, recently updated their Home Valuation Code of Conduct (HVCC) frequently asked questions (FAQ).  Both GSEs state that while there may be some differences with two sets of FAQs in...

Freddie Mac AVM to Assist with Appraisal Reviews

Freddie Mac announced that starting February 28, 2010, Home Value Explorer (HVE) will assist lenders in reviewing appraisals.  Loan Prospector will provide a point value estimate for the property address from HVE, which is Freddie’s AVM.  The use of...

Freddie Notes Improvements since HVCC Implementation

The National Mortgage News is reporting that Freddie Mac is noting a “tangible improvement in the quality of appraisals of loans it buys” since having implemented the Home Valuation Code of Conduct (HVCC). The appraisals are compared against an...
October 20, 2009

New Information on HVCC Announced by FHFA, GSEs

Yesterday the Federal Housing Finance Agency (FHFA) issued the notice “Strengthening Appraiser Independence and Improving the Valuation Process” aimed at addressing misinformation being circulated on the Home Valuation Code of Conduct (HVCC). The notice states that, amongst other things,...

Freddie Mac Releases New Guidance for Appraisals

On July 10, Freddie Mac released Bulletin 2009-18 to sellers and servicers. The bulletin addresses appraisals and underwriting. Regarding appraisals, the bulletin focuses on qualified appraisers, credible appraisers, comparable sales, and monitory appraisal quality. Freddie Mac reminds sellers that...

NAR Calls for Delay of HVCC

On April 20, 2009, NAR sent a letter to Fannie Mae and Freddie Mac requesting that the Home Valuation Code of Conduct (HVCC) be delayed until May 1, 2010. Citing a host of reasons, NAR President Charles McMillan said...