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Loan Modification

: Mortgage Lender Implode-o-Meter

Appraisal Institute calls on HUD to rescind mortgage regulation

By Implode-Explode Heavy Industries

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"The Appraisal Institute, the nation?s largest real estate appraisal association, has led a coalition of four organizations and 35,000 members calling on the U.S. Department of Housing and Urban Development (HUD) to rescind regulations regarding appraisal management companies (AMCs). The coalition also sought new rules on AMCs. A letter addressed to HUD Secretary Shaun Donovan and co-signed by the Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers asked HUD to rescind Mortgagee Letter 97-46 immediately and to correct a reporting discrepancy related to management company fees."

Full post as published by Mortgage Lender Implode-o-Meter on July 01, 2009 (boomark / email).

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