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HVCC Expiration Date?

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HVCC Expiration Date?

Postby Denis DeSaix on Fri Sep 11, 2009 1:49 pm

An appraiser peer emailed this to me today. If it is true, I did not know there was a sunset clause in effect.

Anyone know anything about this?

Hi Denis,
I went to an AI class today and they confirmed that the HVCC “agreement between Fannie/Freddie and Attorney General expires 28 months from date of signature. Date of signature March 2008, sunset Date, July 2010”.

I had heard that the HVCC was planned for a limited time only, but never had anything concrete to back it up. The instructor for the class says that no one knows what will happen at the end of this period.


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Re: HVCC Expiration Date?

Postby Steve Owen on Fri Sep 11, 2009 6:15 pm

I had heard something like that somewhere. But, I do not believe I have ever seen it in writing from any of the principals.

FHFA's news release did not mention an expiration date.

http://www.fhfa.gov/webfiles/277/HVCC122308.pdf

The code itself does not mention an expiration date.

http://www.fhfa.gov/webfiles/2302/HVCCFinalCODE122308.pdf

It may be true, but I wouldn't count on it unless the AI instructor can provide you with a link to a reliable written agreement of that fact.
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