Hallelujah! HVCC Begone!

Here's the article at Realtor.org
HR 3126 Passes House Committee with HVCC Amendment

On October 22, 2009, HR 3126, the "Consumer Financial Protection Act of 2009," passed the House Financial Services Committee with an amendment that will ultimately sunset the Home Valuation Code of Conduct (HVCC). The amendment was offered by Representative Gary Miller (D-CA). During the debate Mr. Miller and Capital Markets Subcommittee Chair, Paul Kanjorski (R-PA), agreed to work on the amendment language before floor consideration to include the appraisal language from HR 1728, the "Mortgage Reform and Anti-Predatory Lending Act." The amendment requires the new Consumer Financial Protection Agency to promulgate and appraisal independence rule within 60 days of enactment of HR 3126. Upon the effective date of the appraisal independence rule the HVCC will sunset.