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Home Valuation Code of Conduct Effective May 1; Update on IVPIMay 1, 2009 Single Family Advisory

We are reminding you that the Home Valuation Code of Conduct (Code) goes into effect today, May 1, 2009, and Freddie Mac will no longer purchase mortgages from Sellers who have not adopted the Code. Additionally, for all mortgages with application dates on or after today you must represent and warrant that all appraisal reports are obtained in a manner consistent with the Code.

If you have any questions regarding the Code, please submit them through our online form and we will respond as quickly as possible.

Update on Independent Valuation Protection Institute

Plans for creating the Independent Valuation Protection Institute (IVPI) are ongoing and we will keep you informed on the timing for its establishment.

The IVPI will offer, among other services, a telephone and e-mail hotline to receive and process complaints from appraisers, individuals and entities on noncompliance with the Code. Until the IVPI assumes this responsibility, we will provide an interim solution for reporting and registering complaints from individuals and entities. We will provide information on this process in an upcoming announcement.

Until the IVPI is established, the provisions regarding it in the Code are not effective.

Get More Information

• Review the Code
• Find answers to frequently asked questions on our Web site.
• Visit the Learning Center for courses and educational resources on the Code.