NAR Comments on HVCC Petitions

Many of our state and local association partners have been asked to sign an electronic petition to New York Attorney General Andrew Cuomo, Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency (FHFA) requesting a permanent reversal of the Housing Value Code of Conduct.

NAR is not providing any direction regarding these petitions.  While the petition signatures may help raise the profile of the issue, NAR remains concerned about the accuracy of some of the petition claims.  NAR  worked with Congressmen Travis Childers (D-MS) and Gary Miller (R-CA) to craft HR 3044, a bill to place an 18 month moratorium on the implementation of the HVCC.  The bill currently has 54 co-sponsors and NAR is actively seeking additional co-sponsors for the legislation.