Fannie, Freddie Will Enforce the HVCC Through Reps and Warranties Under GSE Seller Guides
May 7, 2009
Mortgage lenders that have adopted Fannie Mae’s and Freddie Mac’s Home Valuation Code of Conduct will have to assert compliance with the code in the representations and warranties, just as they do for other delivery requirements on loans sold to the two government-sponsored enterprises. Spokespersons for the two GSEs said that effective May 1, the HVCC became part of Fannie’s and...