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What does it mean to adopt the Code on May 1, 2009?

April 26, 2017adopt code may 1 2009 mean

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What does it mean to adopt the Code on May 1, 2009?

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Lenders must represent and warrant that as of May 1, 2009, they have in place the structure, policies, and procedures required to comply with the Code and that appraisals used for mortgages with application dates on or after May 1, 2009, were obtained in a manner consistent with the Code.