NAIHP files formal complaint against Fannie/Freddie Regulator over HVCC Cover-up « The Niche Report

The National Association of Independent Housing Professionals has repeatedly requested the public comments that the Home Valuation Code of Conduct was supposedly based-on. Fannie Mae and Freddie Mac have yet to comply. I would bet because what is contained in the letters is much different than what Fannie and Freddie told Congress and the public in regards to HVCC, which was little more than Fannie and Freddie making a plea bargain with New York Attorney General Andrew Cuomo.

 

NAIHP is vigorously pursuing copies of the tens of thousands of public comment letters received by the GSE’s and the FHFA, with respect to the HVCC. NAIHP has made numerous requests for these letters, all of which have been denied. A formal request through the Freedom of Information Act (FOIA) is being prepared.

In a May 19, 2010 letter to Andrew Cuomo, FHFA Acting Director Edward DeMarco stated, “The Home Valuation Code of Conduct deployed by Fannie Mae and Freddie Mac was implemented after taking extensive market place comments.” “Refusing to release the comment letters after admitting they relied upon them when implementing the HVCC suggests the letters fail to support the code’s implementation and the FHFA is deliberately withholding this information from the public and Congress,” said Savitt.

via NAIHP files formal complaint against Fannie/Freddie Regulator over HVCC Cover-up « The Niche Report.

Cory Ure
Medallion Mortgage
Salt Lake City, UT

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