Effective May 1, any loan sold or serviced by Fannie Mae or Freddie Mac must comply with new HVCC regulations meant to protect against undue influence on the appraiser by the lender. The regulations state, in part, that:
- Loan origination and production staff are unable to select or recommend an appraiser,
- Lenders will not provide estimates of value to the appraiser,
- Obtaining multiple property valuations for loan purposes is forbidden unless there is a reasonable basis to believe the prior valuation was incorrect.
We have the market coverage, the expertise and most importantly, we have a turn-key solution. At Terra-Val, we make the commitment to provide to our clients HVCC compliant solutions.
The environment may be changing, but the mortgage industry is still a relationship business. Call us today and schedule a consultation.
Eastern and Central US: 913/667-4144
West Coast: 818/492-4432