You may have heard about the Home Valuation Code of Conduct (HVCC). For credit unions that do mortgage lending, this is a big deal. Well, here's some help.
- Fannie Mae has put together a very nice HVCC resource page. Access it here. It has an FAQ, the HVCC itself, and some Fannie-related guidance. (OK, that last phrase sounds funny.) Seriously, though - this is a very good source of HVCC information.
- NAFCU is also offering an HVCC/Appraisal webcast later this month. Read all about it here. We put together a nice line-up. We have someone from NCUA's Examination and Insurance side, a person from NCUA's Office of General Counsel, an expert from Fannie Mae, and an expert from the appraisal industry. I can't imagine a better panel to address the changes.
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Yesterday's post on preemption had a dead hyperlink. Use this link to access NCUA's recent legal opinion letter, which indicates that NCUA's regulations preempt a New York State law that attempts to limit insurance-related activities at federal credit unions. I apologize for any inconvenience.
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