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Federal Housing Finance Agency Home Value
Code of Conduct compliance. |
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An unbiased real estate valuation plays a significant role in the risk management phase of the loan process.
At Select Business Services (SBS) our processing architecture and business practices support the Federal Housing Finance Agency (FHFA) Home Value Code of Conduct (HVCC), for Fannie Mae and Freddie Mac, to assist appraisal compliance.
Our services for lender appraisal compliance include:- Turnkey processing compliant with FHFA (OFHEO) Code of Conduct
- National panel of licensed, qualified real estate appraisers
- Controlled communication
- Centralized operations
- Multiple LOS integrations
- USPAP compliant reports
These new appraisal compliance regulations mean that on and after May 1, 2009, Freddie Mac and Fannie Mae will no longer purchase mortgages from Sellers that do not adopt the Home Value Code of Conduct
with respect to single-family mortgages. Furthermore, lenders will no longer be permitted to use appraisers who have been selected or retained by a
mortgage broker or real estate agent (Section III.A. of the Code for further information).
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