The Federal Housing Finance Agency (FHFA) has announced the Home Valuation Code of Conduct.  The revised code builds on existing Fannie Mae and Freddie Mac seller-servicer guidelines to increase the reliability of appraisals for loans sold to Fannie Mae and Freddie Mac for their portfolios or for securitization.  The Code applies to lenders that sell single-family mortgage loans to the Fannie Mae and Freddie Mac beginning May 1, 2009 and will help assure that borrowers, homebuyers and secondary mortgage market investors receive fair and independent property valuations. 

This Code applies to all conventional, single family loans originated on or after May 1, 2009.  For purposes of the Code, origination date means the date of the application.  The Code WILL NOT apply to loans that were originated prior to May 1, 2009. Further definition states that the APPLICATION DATE is: the date the borrower(s) signed the application certifying that the information is correct.

If you need additional information regarding this process, please contact your Account Executive or Business Development Manager.