NAMB's Government Affairs Committee coments on HVCCMortgagePress.comNAMB, HVCC, appraisals, HR 1728, The Mortgage Reform and Anti-Predatory Lending Act of 2009
Although the Home Valuation Code of Conduct (HVCC) goes into
effect on May 1, the National Association of Mortgage Brokers is
continuing the fight! Unfortunately, on Wednesday, April 29, the
House Financial Services Committee voted against attaching the
Miller/Childers Amendment to HR 1728, "The Mortgage Reform and
Anti-Predatory Lending Act of 2009" requesting a delay of the HVCC,
by a margin of only five votes.
This does not mean the cause is lost! The fight continues!
HR 1728 is tentatively scheduled to be voted on by the entire
House of Representatives on May 7, 2009. NAMB continues to work
closely with members of Congress and is exploring all possible
options resulting in the withdrawal the newly implemented rule.
NAMB will update members on new developments as soon as
Please visit the new HVCC
Resource Center for more information.