On July 22, 2009 FHFA released a notice reinforcing the role of the HVCC in restoring the real estate market as a whole. In a short but very straight forward letter the agency addressed some very key points about the negative press the HVCC is receiving by the industry. The agency emphasized that the HVCC is not the cause of all the bad press about it but is rather a process that is helping restore the real estate industry as a whole. It addresses key points in respected to the use of AMC's, Increased Cost of closing and turnaround times.
In conclusion they emphasized the "critical role" of the HVCC and how important accurate appraisals and quality appraisers are to the underwriting process. To view the full letter click here
Friday, July 24, 2009
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