Sun
21
Jun
HVCC stands for Home Valuation Code of Conduct and is the result of New York State Attorney General Andrew Cuomo’s 2007 lawsuit against Washington Mutual’s preferred AMC (Appraisal Management Company) eAppraiseIt LLC. The lawsuit came to be after eAppraiseIt was allegedly forced into providing excessive/unrealistic appraisals of properties to get the WaMu loans closed and, by way of getting the job done, getting signficantly more business from WaMu. Interestingly enough, NYS AG Andrew Cuomo had this to say in a press release: “The independence of the appraiser is essential to maintaining the integrity of the mortgage industry,” Cuomo said.
http://www.ericbramlett.com/blog/
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Sunday, June 21st, 2009 at 7:51 pm
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