RPM Mortgage

How New Home Appraisal Rules Impact You

As of May 1, a new regulation prohibits loan officers from talking to home appraisers. Previously, this was one of the first steps in a loan agent’s client advisory process. The new regulation is called the Home Valuation Code of Conduct (HVCC) and was mandated by Fannie Mae and Freddie Mac, which both are regulated

WeeklyBasis 4/21/09: Major Home Appraisal Changes May 1

My WeeklyBasis report has been anything but in the past two months. One reason is that yet another voice doesn’t always help when market hysteria levels run high. The other reason is that I’ve been busy. The lending industry continually shifts as the credit crunch moves toward the end of its 21st month, so this

Big Changes For Property Appraisals, Jobless Claims Highest In 16 Years

Forthcoming Appraisal Regulations At this point most loan agents, realtors, and brokers have heard of the HVCC (Home Valuation Code of Conduct), an agreement worked out between the state of New York and Fannie & Freddie (OFHEO). Originally slated to take affect January 1, 2009, the Appraisal Code’s implementation has been pushed back to (probably)

WeeklyBasis 09/08/03: September Stock Selloff Helps Rates

Before rate comments this week, I wanted to let you know about the “Residential Pacific Mortgage 15 Day Close.” My internal bank (which serves only RPM loan agents) will close your loans in 15 days, or all mortgage banking fees will be waived. The rate snapshot below is for reference the week of September 8,