Grabbing the attention of mortgage professionals was FHA’s decision to adopt language from HVCC appraisal guidelines. The HVCC, which has been the. Can you order your appraisal with AccuComp and be HVCC/Dodd-Frank Act and they have allowed prior fees paid by the AMC to be the fee guideline. The Home Valuation Code of Conduct (HVCC) was effective on May 1, As of that

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The HVCC was a much-maligned system of rules governing home appraisals that were designed to increase the independence of appraisers from interested parties in a real estate transaction. There is a comment period for the next 60 days, after which time the rule will be finalized.

Compliance with the rule is optional until April 1, to allow the industry time to adapt. The new regulations run pages, and I will not attempt to cover all facets of them here.

Briefly summarized, the new rules address these issues for full detail, see pages of the linked PDF:. I think most people agreed with the spirit of the HVCC, but disliked its implementation. The HVCC was perceived as unfairly reducing appraiser compensation, thus driving many appraisers from the industry. The new rules are intended to solve some of the problems that arose as a result of the HVCC.

What is your opinion of the HVCC or the new rules?

Lender’s Choice, Inc. – Appraisal Management Company

Will the overhauled rules be effective? Let me know in the comments section below. Mortgage Rates Tagged with: What is important is that AMCs owned the big, federally chartered banks will be excluded from state regulation.

States had to scramble to enact laws to regulate AMCs since the feds did not do anything to stop their predatory behavior. The big banks AMCs are the worst. This ruling is a joke, if the HVCC has already sunset and the new rules and regulations do not have to be followed untill AprilWhat do we do for the next six months?


Why not walk up to any freeloader on the street and hand over the cash to buy a house? Bids out appraisal to the appraiser that will do it the fastest and cheapest. Low-ball hvdc wins gudielines by agreeming to do the appraisal for sweat-shop wage.

Low-ball appraiser slaps together sloppy report. No change, except that is now has a new name.

Seriously, there is no change. Borrowers will continue to pay a higher fee, but appraisers will continue to be paid less. Appraisers will still not be able to work for themselves…. Anyone who thinks the new policy will lead to better appraisals or lower costs for the consumer needs to wake up and guidelihes yet another bank-congress ripoff in action.

And you can thank Mario Cuomo, Barney Frank, and Chris Dodd for billions of dollars in lost real estate equity as good homes are now values according to foreclosures. In California the appraisers are also basically doing the termite inspection. Their appraisal form has a spot where they indicate whether the property needs a termite report. The problem is that they have no license or training to determine this, and it is directly against the Pest Control Act.

So in addition to not being able to work for themselves, they have the added liability of potentially missing termite damage on a report they indicated did not need a termite report. Bad spot to be in. The banks tried for years to hijack the real estate sales profession but were blocked at every turn by Realtors.

The appraisal profession never had a chance.

The independent fee appraisers turned out to be independent fool appraisers and in the end no organization equaled no representation. No representation led to the end.

HVCC Replaced, Fannie Mae Releases New Appraisal Guidelines

This profession is done for. AVMs will pick up the slack more and more each year as experienced appraisers leave the business.

In addition my local work guidelinee gone, and I am sent far and wide with no trip fee. I can spend half a day driving and 50 bucks in gas to make before I get home and spend half a day typing, then more time reviewing whiny AMC comments. Most appraisals I see now seem to also have pictures taken off the Multiple Listing Service, rather than the required drive by inspection of the comparables.


Pretty easy to see who sends the trainee to inspect, then pull old street pics of the comps off internet sources.

HVCC Compliant

Garbage fee breeds garbage appraisers willing to break the rules. I quit appraising rather than participate in this. I plan on letting my license expire on renewal. No point in paying to be part of this anymore. Lets start an appraiser movement. Lets not stand for it any longer. My fees range from I am not even certified. I can do one or two a day if i like. Also, back in the days appraisers were getting paid to type bad reports because there was no oversight.

My point is, now the quality of appraisals has improved and we are not constantly pushed around by agents and brokers. Why is this loser complaining about termite section. Stop crying kids grow up. My home was appraisal and he did not include the abandoned oil tank and the visual mole and oil smell. He used home values from the south side with stone fronts instead of red brick fronts. Any good appraisal companies for Philadelphiapa Urgent!!!!!

Your email address will not be published. October 19, by Michael Kraus 12 Comments. October 19, at October 19, at 8: October 22, at 1: October 25, at 5: December 3, at 6: February 22, at March 30, at April 1, at 3: January 30, at 3: August 8, at Leave a Reply Cancel reply Your email address will not be published.