Tag: government intervention

So today the Federal Reserve announced, in a surprise move, that they won’t begin tapering off the purchases of mortgage backed securities anytime soon.

For the last several months we have been grumbling in this space about the Home Valuation Code of Conduct (HVCC) and the horrible impact it is having on the market. It’s a poor deal for the consumers it purports to protect and it should be revoked. However, that has not stopped the impact it has had on the day to day activity here at America’s Mortgage Choice.

We used to spend time on appraisals. Lots of time. We never realized how much until the last few months. Here is what the appraisal process looked like before the passing of the HVCC:

The Home Valuation Code of Conduct (HVCC) is now in full force. The May 1, 2009 deadline has passed and the early results are in.