StreetLinks National Appraisal Services, an Indianapolis-based real estate appraisal procurement and management company announced its services are compliant with upcoming requirements by the Federal Housing Administration (FHA) that aim to ensure appraisal independence. The regulations are similar to those in place through the Home Valuation Code of Conduct (HVCC) for agency-purchased mortgages that were enacted to create a barrier between appraisers and loan originators, but apply to FHA-insured loans. The new FHA loan rules take effect Jan. 1, 2010. “This will have a big impact on lenders, as did the HVCC agreement,” said StreetLinks CEO Steve Haslam. “We’ve always believed an arms-length, independent process was the only avenue for accurate and unbiased valuations. Our people and processes are perfectly aligned for full compliance.” The FHA guidelines require geographic competency the payment of reasonable fees to appraisers. StreetLinks issued a guarantee of its services, backed by a $1m fund to pay the losses of dissatisfied customers. Write to Austin Kilgore.
StreetLinks Touts Compliance with New FHA Rules
Most Popular Articles
Latest Articles
Why are existing home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.