The housing industry is facing new national

rules for real estate appraisals, which will ban mortgage brokers from

ordering valuations and divert more business to third-party appraisal

management companies.

Lenders seeking to sell their loans to

Fannie Mae and Freddie Mac will have to adopt the home valuation code

of conduct; but they have expressed some concern about the new

standard, which takes effect on May 1.

Lenders can still focus on FHA financing,

considering the agency has its own appraisal rules and does not plan to

adopt the code of Fannie Mae or Freddie Mac.

Source: Realty Times, Kenneth R. Harney (04/20/09)