Skip to main content

The Telephone Doctor: Direct link between low consumer confidence and poor customer service

Mar 09, 2009

NAMB files lawsuit against FHFA regarding HVCCMortgagePress.comNAMB, lawsuit, HVCC, appraisers, Federal Housing Finance Agency, Housing Enterprises Financial Safety and Soundness Act of 1992 The National Association of Mortgage Brokers has sued the Federal Housing Finance Agency (FHFA) regarding its final rule promulgating the Home Valuation Code of Conduct. The complaint alleges that the FHFA violated the Administrative Procedure Act and the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 by: 1. Placing mortgage brokers at a significant and permanent competitive disadvantage by forcing mortgage brokers to rely on lenders and their affiliates to obtain appraisals for their customers; 2. Failing to provide notice or the opportunity for public comment; 3. Promulgating a final rule that goes beyond the authority of the Director of the FHFA to regulate Fannie Mae and Freddie Mac and which gives "improper delegation" of regulatory authority to the New York Attorney General; and 4. Promulgating a rule that is "arbitrary and capricious." NAMB contends that enforcing the final rule will cause "irreparable harm" and that the rule is "contrary to the public interest." The complaint requests a declaratory judgment striking down the final rule and an injunction preventing its enforcement. For more information, click here.
About the author
Published
Mar 09, 2009
Bilt’s $250M Raise Signals Big Mortgage Push Backed by UWM

Backed by a $100M investment from UWM, Bilt is bringing its rewards model to mortgage, giving brokers a new way to engage buyers, boost retention

Jul 12, 2025
2025 Most Connected

Mortgage professionals are building a real influence and lasting impact online

Jul 10, 2025
Opportunities In Private Lending

Jeff Tesch on private lending, market trends, and industry growth

May 29, 2025
Build Your Brand, Grow Your Pipeline

The mortgage market is shifting, and loan officers need to adapt; Brian Vieaux talks about helping them stay ahead

May 16, 2025
Ghostwriting For Mortgage Pros

Dylan Latour shares why your content needs a strategy

Apr 18, 2025
Thrive In A Tough Market

Coby Hakalir talks tackling affordability challenges, leveraging fintech, and building stronger client relationships

Mar 21, 2025