HVCC

Home Valuation Code Of Conduct... good or bad? This was not a law that was passed but a settlement between the state of NY and FNMA & FHLMC. This settlement changes how the entire property appraisal process works. Your broker will no longer order your appraisal report. The report MUST be ordered by the lender... but what happens if the lender does not like the property? Your loan must be taken to another lender and yes you guessed it, you need another appraisal. This starts to get expensive.

Brokers are cast as the evil Third Party Originators who have made a mess of the system. This is an easy scapegoat and in my opinion incorrect, what about the Ameriquests of the world? these were LENDERS that behaved worse than any broker. Companies like these have gone out of business so they can't be blamed -- hence the easy mortgage broker target.

For more information on how to best originate your loan contact me via my website at: http://www.new-hampshire-home-mortgage.com