On May 1, 2009 the Home Valuation Code of Conduct (HVCC) was signed into law. This was originally intended to prevent real estate agents and mortgage brokers from influencing appraisers and thus home values. However, the lawsuit filed by the National Association of Mortgage Brokers (NAMB) on February 23, 2009 indicates that problems were seen with this Code even before it was officially established.The NAMB alleges that the HVCC will “drastically reduce the ability of mortgage brokers to provide consumers with an efficient and cost-effective means of obtaining a mortgage”. The Read more
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