SellingNorthernNV

FannieMae and FreddieMac adopted the Home Valuation Code of Conduct (HVCC) in 2008 in order to reinforce, protect, and enhance the overall integrity of an appraiser’s valuation process. This code of conduct became effective on May 1, 2009.

One of the new requirements under the HVCC is that the homebuyer must receive their copy of the appraisal at least 3 business days prior to the mortgage closing. This is to allow the homebuyer adequate time to review the appraisal before making their final decision to proceed with closing. If the homebuyer believes this 3-day period is not necessary, he or she has the right to waive this requirement.

Should you have any questions or need further information,
please don’t hesitate to contact me, (775) 220-1630
Or visit my blog at www.SellingNorthernNV.com

Joshua Talayka
Chase International
Office: 775 850 5900
Toll Free: 877 922 5900
Cell: 775 220 1630
Fax: 775 850 5901
985 Damonte Ranch Pkwy, Ste. 110
Reno, Nevada (NV) 89521

Tags: appraisal, Chase International, FannieMae, FreddieMac, Home Valuation Code of Conduct, Homebuyer, HVCC, Nevada, NV, Real Estate, reno, Talayka

This entry was posted by Josh Talayka on Monday, September 28th, 2009 at 2:09 pm and is filed under FannieMae, Financing/Mortgage Topics, Freddie Mac. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.