As we all gather with family and friends for this holiday week, we'd like to thank you for being our valued customer and for all your support throughout 2008.

All our best wishes for a joyous and healthy holiday for you and yours.

FHFA Announces Home Valuation Code of Conduct
Federal Housing Finance Agency (FHFA) Director James B. Lockhart announced that Fannie Mae and Freddie Mac will implement a revised Home Valuation Code of Conduct (Code) effective May 1, 2009. The Code is based on an agreement between the Enterprises, the New York State Attorney General Andrew Cuomo and FHFA to improve the reliability of home appraisals. Following a comment period on the original Code, modifications were made by the Enterprises to reflect comments received. The revisions will facilitate implementation in the marketplace.

The revised Code builds on existing Fannie Mae and Freddie Mac seller-servicer guidelines to increase the reliability of appraisals for loans sold to the Enterprises for their portfolios or for securitization. The Code applies to lenders that sell single-family mortgage loans to the Enterprises beginning May 1, 2009 and will help assure that borrowers, homebuyers and secondary mortgage market investors receive fair and independent property valuations.

“The Enterprises have a strong interest in ensuring the soundness of the appraisal practices that lead to appraisal reports supporting the mortgage loans they purchase from lenders,” said Director Lockhart. “FHFA supports this effort by the Enterprises to strengthen the appraisal process against the possibility of improper influence and coercion. The Code strikes a balance of assuring enhanced protections for appraisers while maintaining lender ability to address unprofessional appraisal practices and to perform quality controls on appraisals received. I appreciate the work of Fannie Mae and Freddie Mac on the Code and of the Attorney General’s Office throughout the process.”

Fannie Mae and Freddie Mac will be providing information on the Code to market participants in early January to address implementation questions in advance of the May 1, 2009 effective date.

View the HVCC Code at this link: http://www.ofheo.gov/media/news%20releases/HVCCFinalCODE122308.pdf

New Market Conditions Summary Form
The Market Conditions Addendum form will be required on all 1004 appraisals completed on or after 4/1/2009. We have had some customers tell us lenders are requesting that they start using the form in January. We have finished the form design and will include it in a release of ClickFORMS in early January.

ClickFORMS Tech Tip
We've found that with 64-bit Vista machines we need to run ClickFORMS in XP compatibility mode. To do this:

1. Right-click the (yellow) ClickFORMS icon.

2. Choose "Properties".

3. Click the" Compatibility" tab, then check the "Run this program in Compatibility mode for Windows XP (Service Pack 2)" checkbox.

ClickFORMS should now run normally and not generate any low memory errors.

If you have further questions, please feel free to contact our Technical Support Department at 800-320-8727 or email us at support@bradfordsoftware.com.

Business Holiday Hours
Our offices will be closed on the following dates in observance of the holiday season.

• December 25th and 26th
• January 1st and 2nd

Current Promotions
Don’t forget our "Keep it Under Your Santa Hat" sale! Great specials such as 50% off all network connections. Call us at 800-622-8727 or purchase online at shop.appraisalworld.com by December 31st for savings so big, we’re not telling the boss.

Because we love putting up the decorations
Download a festive ClickFORMS desktop wallpaper for your PC. Have a very happy holiday season from all of us at Bradford Technologies!