Seattle Home Mortgage – HVCC will not be required by HUD

According to the National Mortgage News, David Stevens commissioner for FHA has told the National Association of Mortgage Brokers that FHA will not implement HVCC on FHA loans because of the problems that they have been causing. This is great news for the Seattle Home Mortgage market as well as nationally. HVCC as you know is the newest requirement which has taken away the ability for mortgage originators to order appraisals for their clients.