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Mortgage Rates
30 Yr FRM 4.83% -0.08%
15 Yr FRM 4.32% -0.04%
1 Yr ARM 4.35% -0.11%
5/1 Yr ARM 4.25% -0.04%
30 YR Tres 4.30% 0.01%
Fed Prime 3.25% 0.00%
Answered Questions » Real Estate » Appraisal
Q: What is HVCC and what are the pros and cons?
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  • I'm a Loan Originator. I have done research to educate my clients.

    PROS: The intention was a to create a system to eliminate inflated values by either bad/novice appraisers or, by predatory lenders. Yes, financing someone for more than their house is worth can very easily be categorized as "predatory"

    CONS:  I have included some links from credible news sources to explain the negative effects of this hastily implemented guideline that has thrown the housing recovery into a spin. For a video explaining the basics go to http://www.hvccpetition.com/Video.aspx (and read signatures). 

    GREAT Bloomberg article: http://www.bloomberg.com/apps/news?pid=20601087&sid=aWyCYkxx5W1w


    Answer Submitted on Tue, Jun 30 2009

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    		Answer Contributed by: Chance Dodson
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