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May 16, 2008
Plots & Ploys: End Run Around Cuomo?
Sen. Elizabeth Dole, R-N.C., is expected to propose an amendment to a bill that would beef up regulatory oversight of Fannie Mae and Freddie Mac, calling for the government-sponsored enterprises' new regulator to create new appraisal standards for the mortgages they buy or guarantee. The amendment would overrule a code of conduct created by New York Attorney General Andrew Cuomo that would prevent mortgage brokers and loan officers from selecting appraisers and prohibit lenders from using valuations by in-house or affiliated appraisers.
Posted by S. Germain at May 16, 2008 07:55 AM