New York Attorney General Andrew Cuomo has just wrapped up a year’s worth of investigating and now Fannie Mae and Freddie Mac have come forward as reformed lenders that will only deal with banks who will play nice.

Also, Fannie and Freddie not only made nice with Cuomo, but agreed to finance his reform institute and abide by a strict new code he helped pen. A code aimed directly at them.

Cuomo said Monday that he finally settled an investigation into the home loan industry, specifically, biggies Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ). Fannie Mae closed down $1.21, or 4.4%, to $26.44. Freddie Mac closed down $1.46,or 5.8%, to $23.72.

The settlement established the “New Home Valuation Protection Code” and a Fannie and Freddie-sponsored $24 million dollar institute to “implement and monitor the Code.”

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House Buying, House Selling, Mortgages and Loans appraisal standards, appraisals, countrywide, Fannie Mae, Freddie Mac, home appraisal, home loans, mortgages, New York Real Estate