Do you recall my recent criticism of the Home Valuation Protection Plan? Apparently,  Floyd Walters and I aren't the only ones perplexed over the code:

The National Association of Mortgage Brokers is suing the Federal Housing Finance Agency over the controversial Home Valuation Code of Conduct.  Reasons given are that the code will increase costs making it even more difficult for some small businesses to survive.  “The HVCC does nothing but drive up costs for consumers and push small businesses out of the market,” said NAMB President, Marc Savitt. “The HVCC will drastically reduce the ability of mortgage brokers to provide consumers with an efficient and cost-effective means of obtaining a mortgage.”
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Moratorium for California foreclosures continues: The California Legislature, as part of the recently-passed budget package, approved Friday, legislation SB2X-7 and AB2X-7, which provide for a 90-day foreclosure moratorium.   The bill, introduced by Sen. Ellen Corbet (D-San Leandro), covers owner-occupied homes where the first loan was recorded between Jan. 1, 2003 and Jan. 1, 2008. “Many people in our communities are facing the terrible specter of foreclosure,” Corbett said, “I’m just trying to find a way to help.”