Mortgage industry officials continue to lobby for language in the regulatory reform bill that will ease the burden of the Home Valuation Code of Conduct regulation. According to Marc Savitt, president of the National Association of Independent Housing Professionals, an amendment will be introduced during conference talks that will allow any licensed originator to order an appraisal. Currently, HVCC bans mortgage brokers and retail loan officers from being involved in the appraisal process. Mr. Savitt said a HVCC amendment was introduced in the Senate this week but not voted on.
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