The Title / Appraisal Vendor Management Association has weighed in regarding HVCC. The report, written a over a week ago has gone under the radar as most things HVCC have. This topic just cann’t seem to get traction regardless of how important it might be.
If the GSEs implement the Code as currently drafted, it will cause a major
disruption in the lending community due to a serious interruption in appraisal services.
Such a disruption ultimately will increase consumers’ closing costs and their ability to
obtain financing in a timely manner, or at all.
Hat tip to Rick Grant.
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