Amendment to Eliminate HVCC Still Alive in Financial Reform Bill

The Fed proposed the rule, required by the 2010 Dodd-Frank financial reform law, in late 2013. Skeptics said then that it didn’t go far enough and are saying similar things about the re-proposal.

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Housing Wire – "Amendment to Eliminate HVCC Still Alive in Financial Reform Bill" (6-29-10) "An amendment to the Wall Street Reform Bill that would eliminate the Home Valuation Code of Conduct (HVCC) survived congressional debates last week, according to one representative’s office. A congressional conference last week took place to reconcile both versions of the House and Senate financial reform bills.

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The sweeping new financial regulatory bill was signed into law last Wednesday by President Obama. It will create a huge new government bureaucracy over the next year or so including 13 brand new federal agencies employing thousands of new government workers. The heads of these agencies will be appointed (not elected) by the president.

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Amendment to Eliminate HVCC Still Alive in Financial Reform Bill. The bill also stipulates that the new standards will include a requirement that lenders and their agents pay appraisers at market rates. The new standards will still subject loan originators to any state or federal laws that prohibit it from making payments,