Questions about FHA Future

FHA commissioner, David H. Stevens, testified  in Congress that the agency will not need a bailout and that the FHA is “managing it’s risks”. These risks include: 20 percent of all 2008 loans and 24percent of 2007 loans are facing serious problems, including foreclosure. this is not new to market participants as the FNMA fiasco was well known ahead of time but very few were willing to listen. FHA is the new sub prime lender and it is going the same route. We have seen recent attempts at improving credit standards but unless some drastic measures are taken massive defaults are on their way. Mr Stevens has the public trust and should be fired if he is not telling us the full truth. It is our money that he is in charge of.

FHA Experts Covering the Entire State of NJ and Parts of NY and PA

We at Valuation Solutions  cover the entire State of New Jersey. We  work with large and small lenders and provide them with quality and timely service on their FHA appraisals, including 203k appraisals. We will be happy to provide you with references regarding our quality work. We work closely with many out of state lenders.

FHFA Responds to HVCC Bad Press

FHFA Confirms HVCC is doing much better than bad press its receiving.
On July 22, 2009 FHFA released a notice reinforcing the long term role of the HVCC in restoring the real estate market as a whole. In a short but very straight forward letter the agency addressed some very key points about the negative press the HVCC is receiving by the industry. The agency emphasized that the HVCC is not the cause of all the bad press about it but is rather a process that is helping restore the real estate industry as a whole. It addresses key points in respected to the use of AMC’s, Increased Cost of closing and turnaround times.

In conclusion they emphasized the “critical role” of the HVCC and how important accurate appraisals and quality appraisers are to the underwriting process.

This comes in at time in which the HVCC is the topic of much controversy and bad press. Although some of the bad press is a legitimate concern the majority of it is the industry lashing out on a major business change as everyone is still going through an adjustment period.