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Examining the code of conduct: while promoting appraiser independence, Cuomo's agreement could threaten some businesses.
Eliminating mortgage broker-ordered appraisals, prohibiting appraiser coercion, and reducing the use of appraisals prepared in-house or through captive appraisal management companies in underwriting mortgages: These are some of the overarching goals of the March 3 agreement among New York Attorney General Andrew Cuomo, government-sponsored enterprises Fannie Mae and Freddie Mac, and their federal regulatory overseer, the Office of Federal Housing Enterprise Oversight. Now, the real estate industry--appraisers in particular--ponders the effects of the agreemen...
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