NAR: Appraisal rules undercut tax credit

Industry groups air list of grievances

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The Federal Housing Administration’s new guidelines for ordering appraisals won’t have some of the unintended consequences that those put in place by Fannie Mae and Freddie Mac in May did, the National Association of Realtors says.

But NAR continues to push for suspending enforcement of the Home Valuation Code of Conduct, rules governing appraisals adopted by Fannie Mae and Freddie Mac on May 1 in the wake of an investigation by New York Attorney General Andrew Cuomo.