Fannie, Freddie Set Up Appraisal Watchdog

Law360, New York (March 3, 2008, 12:00 AM EST) -- The two largest purchasers of home loans in the United States, Fannie Mae and Freddie Mac, have agreed to form a watchdog group that will help regulators oversee home appraisals.

The plan to form the the Independent Valuation Protection Institute was announced Monday as part of an agreement between Fannie, Freddie, the Office of Federal Housing Enterprise Oversight and New York State Attorney General Andrew Cuomo.

Under the terms of the agreement, Cuomo said, he will drop an investigation launched in November against the Federal National...
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