Mortgage bankers and brokers are continuing to complain about the Fannie Mae/Freddie Mac âHome Valuation Code of Conductâ or HVCC. This from Mark Allen Mortgageâs Rich Tachine: âWhat a crock. Lenders having to create appraisal ordering departments they didn't want, to deal with strangers whose values they don't trust. The end result for the consumer? Terrible turn times and a 40% increase in price. That's right -- did you notice the old $350 to $375 appraisal is now $475 to $500? Why?â Meanwhile, as the weekend approaches more consumers are once again contemplating the housing market. Home prices are continuing to fall along with 30-year fixed-rate mortgage rates...
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