HVCC - CTA Follow-up (June 17, 2009)
Attention All Real Estate Professionals:
The Home Valuation Code of Conduct (HVCC) has cast a shadow over the lending process, increasing costs to consumers in the form of higher fees, poor valuations, and slower turn times. Please help us continue to expose the error of this system to national leaders and to grow public support for change by sharing your HVCC experiences as directed in the NAMB communication below.
If you believe the HVCC is harming your customer, you must join us in keeping up the pressure to replace the HVCC with a system that brings value to consumers. Please forward this message to anyone who is feeling the taxing affects of the HVCC. | Read More
HVCC (Home Valuation Code of Conduct)
New appraisal regulations as of May 1, 2009
Please complete our survey.
We need to hear about your experiences with the new appraisal process known as HVCC and more importantly our State and Federal Regulators and Legislators need to hear real-life examples of HVCC. Please take a few moments to complete our survey. Go to Appraisal/HVCC Survey and tell us about your appraisal experience. This survey is designed for Consumers, Appraisers, Mortgage Professionals, and Realtors to complete.
CAMB has sponsored an HVCC (Home Valuation Code of Conduct) Web site address www.PropertyUnitesUs.com where you, your clients, consumers, Realtors®, appraisers, loan originators and builders can find out more about this new regulation and post real life examples of how consumers are being negatively impacted by the HVCC.
The Home Valuation Code of Conduct (HVCC) limits freedom of choice without protecting the consumer’s or investor’s best interest! We know you have all sorts of examples of higher costs, poor service, lack of portability (inability to use one appraisal for more than one lender), poor quality of appraisals, and inability to make corrections to inaccurate information. Please make your voices heard.
HUD Secretary Announces Monetization of Tax Credit at NAR Real Estate Summit
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment. | Read More
HR 1728 Update
On May 7, 2009 the House of Representatives passed H.R. 1728, the “Mortgage Reform and Anti-Predatory Lending Act of 2009,” by a vote of 300 to 114. Prior to the vote, NAMB sent a letter to the members of the House of Representatives voicing its concerns with the bill. For a copy of the letter, click here. For a detailed summary of the bill, click here. For a full list of amendments and votes, click here. | Read More
Call to Action--HVCC Follow-up
There has been significant bipartisan movement forward by Congress on the Home Valuation Code of Conduct ("HVCC") as a result of the phone calls made to your legislators' in-district offices last week! Key Republican and Democrat Congressmen have shown their support for NAMB's cause, and we need to keep the momentum going. We can not stop now! | Read More
CAMB Call to Action--HVCC--April 17, 2009
Contact your Senators and Representatives TODAY and urge them to STOP or DELAY (for at least 12 months) the implementation of the Home Valuation Code of Conduct (“HVCC”) which is de facto regulation, forced on Freddie Mac and Fannie Mae by New York Attorney General Cuomo. | Read More
Advance Fee Agreement Essential Elements Document from the DRE. |
CAMB State Bill Positions Letters
AB 260 [pdf]
AB 329 [pdf]
AB 764 [pdf]
SB 36 [pdf]
SB 94 [pdf]
SB 496 [pdf]
SB 660 [pdf]
CAMB Call to Action--HVCC Appraisal Agreement
Read More
Contact your U. S. Representative today to sign the letter being circulated by Rep. Gary Miller asking House Leadership to prevent a decrease in the loan limit levels. | Read More
Contact your U. S. Representative and U. S. Senators today to let them know that a decrease in the FHA and GSE loan limits will further depress our housing markets
In November, the Federal Housing Finance Agency and HUD announced GSE and FHA loan limits levels for 2009. While the conforming loan limit will remain at $417,000 for most areas in the country, "high cost" area limits in many counties will decrease on January 1, 2009. | Read More
(Click here to see the new loan limits for your county in 2009.)
Final RESPA Rule from HUD
The CAMB Government Affairs team is reviewing the extensive 374 - page document and will be determining a strategy for a coordinated response with the National Association of Mortgage Brokers (NAMB). | Read More
Statement of Speaker Bass on Foreclosure Crisis Plans for Special Legislative Session
SACRAMENTO – From the State Capitol today, Assembly Speaker Karen Bass and Assemblymembers Ted Lieu and Pedro Nava discussed plans Assembly Democrats are putting forward to address the home foreclosure crisis in the special legislative session. Speaking to reporters in the Willie Brown Jr. conference room, Speaker Bass made the following remarks | Read More
Treasury Secretary Paulson’s remarks on the Financial Rescue Package and Economic Update
Read More
CAMB Testimony for the September 6, 2008 House Financial Services
Committee Field Hearing in Stockton.
Click here to download [pdf]
CAMB is Working for you at the State Capitol!
[Posted 7.25.08]
Thanks to CAMB Efforts, Loan Limit Increase Letter Receives Almost Unanimous Support by California Delegation [Posted 7.25.08]
Regulation Z
The News Channels and the internet has been quite active in the last couple of days with information about the Federal Reserve Board's approval of a final rule on an amendment to Regulation Z. The final rule was issued on Monday July 14, 2008 and was designed to prohibit unfair, abusive or deceptive mortgage lending practices. The rule also established new advertising and disclosure requirements.
[Posted 7.25.08]
Read More
HUD is About to Finalize a New RESPA Rule
Read More
updated
07/02/2009
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