FHA Adopts HVCC Requirements

Effective October 1, 2009, all FHA transactions must adhere to the appraisal guidelines outlined in the Home Valuation Code of Conduct that is currently in place for conventional financing.

This change in FHA guidelines has been enacted to limit the communication between loan officers and the appraisers assigned to case files. Loan Originators, Loan Officers, and Mortgage Loan Production Staff are not permitted to have any substantive contact with the appraiser and must direct all appraisal orders and communication through an Appraisal Management Company.

In addition, FHA appraisals are only valid for a period of 120-days from the date of the appraisal.

While the new FHA guideline does not specifically state that FHA has adopted HVCC guidelines, the new directive mirrors the requirements of HVCC.

REAL FINANCE SOLUTIONS Has a New Technology Partner!

ATTENTION ALL RFS CONSULTANTS

REAL FINANCE SOLUTIONS is excited to let you know that we are adding a new technology partner that will allow us to upgrade our technolgy and add additional revenue streams.

Please pass the word to everyone on your team that it is important to attend next week's Wednesday night RFS Consultant Training Webinar as we will be introducing our new partner and giving you an overview of our new system.

Just a hint of what is to come...are you ready for your own self replicating website? Be sure to tune in Wednesday night at 9:00 p.m. EST.!