H.R.3044 - To impose an 18-month moratorium on the Home Valuation Code of Conduct.

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Official: To impose an 18-month moratorium on the Home Valuation Code of Conduct. as introduced.

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time09 07/15/2009 5:35am

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↑ Overall Rating: 5.0 | 0 of 0 found useful.

This bill was supposed to protect homeowners and the consumer. All it has done it increase their costs and lined the pockets of big banks as they take a cut of the new, increased appraisal fee then put the job out to the lowest bidder.

The appraisals cost more for the consumer by an average of 50% ($150) and take an average off 2.5 weeks to complete, resulting in hundreds, or even thousands, of dollars in lock extension fees.

Christine Bell, CRMS
Allegiance Mortgage Services