HUD Postpones Implementation of HVCC for FHA

Breaking news is that HUD has Postponed the implementation of HVCC for FHA loans until February 15th, 2010. This delay is too allow time for Lenders to adjust to the changes. It is a two part action plan:

1) Prohibition of Mortgage Brokers and commission based lender staff for the appraisal process

2) Appraiser selection for FHA Connection

This will be effective for all case numbers after the 15th of February.