National Mortgage News recently reported that, according to the National Association of Mortgage Brokers (NAMB), the Federal Housing Administration (FHA) will not implement the Home Valuation Code of Conduct (HVCC) for its mortgage insurance programs. According to the article, FHA Commissioner David H. Stevens met with a delegation from NAMB and discussed a variety of topics. After talking with HUD, NAR believes it is clear that FHA supports much of what the Code has accomplished. FHA is currently reviewing its appraisal policies and may adopt changes that take HVCC into account.

NAR's HVCC Web page
Federal Housing Administration
National Mortgage News