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Term of the Day
Home Valuation Code of Conduct (HVCC)
home sale profit
homebuyer protection plan
Definition
This rule was
put into
effect
on May 1, 2009 by Freddie Mac and
Fannie Mae
. It stated that, from then on, the
agencies
would only
buy
mortgages
that had been backed by an independent
appraisal
.
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