"Mortgage lenders and home appraisers are anxiously awaiting news about the status of new lending rules intended to protect home buyers and investors from bogus appraisals.
The Home Value Protection Program, scheduled to take effect Jan. 1, would force originators and brokers of conventional loans to stop dealing directly with appraisers.
Lenders would no longer be allowed to hire their own appraisers or even discuss a home's estimated value with them. Instead, lending institutions would handle all appraisals through an intermediary that would assign each appraiser from an approved list."
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Appraisers, lenders anxious for new rules
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