Posted by: cfigueira | June 24, 2010

Is HVCC Gone?

Is HVCC Gone?

Christopher Dodd also made an effort to go against both the House and Senate and Save HVCC.   It would appear as if the House is standing firm on the elimination of HVCC. The only Member from NJ on the Committee that I know of is Rep. Scott Garrett. It is recommended you sent him an email at www.House.Gov/Garrett to hold fast on the elimination of HVCC.

The possible (we think probable) good news for consumers, brokers and appraisers is that the House amendments to the bill which were approved by the House include the language that allows brokers back in the appraisal process and sunsets HVCC as soon as regulations are issued (60 days after enactment). The potential problem here is that the Senate counter-offered an amendment removing the House language, contrary to the Casey Amendment that passed the Senate.

We have gotten this far on the HVCC issue thanks to a lot of behind the scenes work by a diligent group of people including IMMAAG’s friends at the who took an early and aggressive lead on the issue last year and have been relentlessly pushing for what is in the House bill. We will continue the work necessary to insure the House language is retained.

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