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Dear NAMB Member,
Your efforts to fight the HVCC are not going unnoticed!
Thanks to you, on Wednesday, July 22, the Federal Housing Finance Agency (FHFA) issued a notice on the HVCC in an attempt to stem increased criticisms about its affect on the mortgage and housing industries. Also, Fannie Mae and Freddie Mac have revised their HVCC FAQs.
FHFA Notice - Strengthening Appraiser Independence and Improving the Valuation Process Fannie Mae FAQ
This is in direct response to your persistence in following the NAMB Call to Action, and NAMB’s communication with the media spotlighting the HVCC. The FHFA, Fannie Mae and Freddie Mac (GSEs) are inundated daily with your phone calls referencing specific examples of how the HVCC is hurting your business and consumers, but the fight isn’t over. Keeping the pressure on them is vital, continue to contact the FHFA and GSEs and explain the HVCC’s effects.
NAMB Call to Action
The HVCC is also meeting opposition in Congress. As of today, H.R. 3044, a bill to implement an 18-month moratorium on the HVCC, has 37 cosponsors. For a list of the cosponsors, please click here.
Keep up the great work! Continue to check the HVCC Resource Center for information and please send any tangible evidence of how the HVCC affects the industry to
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