HUD Revises 4155 Manual – HVCC Regulations Challenged

January 5, 2010

Daily Real Estate Updates

sudler-sothebys-logo5 January 2010 ? The Department of Housing and Urban Development has recently sent out revisions to the 4155 manual ? the bible for underwriters. HUD appears to be seeing the light on problems associated with the HVCC regulations and the impact HVCC has caused throughout the real estate industry. One revision in particular states that the “LENDER” is responsible for collecting and paying all fees, including the appraiser. The AMC or appraisal companies are not mentioned in this revision. This revision signals a trend toward reverting back to how the system operated before HVCC. A second interesting revision notes that when transferring an appraisal from one lender to the next, the appraisal does not have to be in the name of the new lender. This revision was added to protect the client from long closing delays. Could this be the beginning of the end for HVCC?

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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at or at

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