Appraisers, both residential and commercial, are waiting to see what happens to the appraisal business when new federal rules become effective on January 1, 2009. The rules, forced upon the profession, will be enforced by the Office of Federal Housing Enterprise Oversight (OFHEO), via Fannie Mae and Freddie Mac. The rules will mandate that the federal government buy home loans only from lenders that endorse a specific code of conduct, one developed by the New York Attorney General's Office (Cuomo) and agreed to as part of a court settlement by OFHEO, Fannie Mae and Freddie Mac.
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Do Appraiser Business Relationships Foster Abuse?
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