About the HVCC

About the HVCC

About the HVCC Just what is the purpose of the HVCC? Enacted May 1, 2009, the Home Valuation Code of Conduct (HVCC) is a set of rules for the mortgage financing and real estate appraisal industries. The intended function of the HVCC is to safeguard appraiser independence and prevent stress from being placed on appraisers to generate a sought after property value. In the end, these safeguards are intended to protect consumers. Although there’s been considerable argument about the unintended repercussions of the HVCC, conformity is required for all financial loans backed by Fannie Mae or Freddie Mac. So what can I expect to change because of the HVCC? Absolutely nothing changes in the actual appraisal reports we generate. We’ve always aimed at ensuring precise, independent valuations in our appraisal reports. This is the core value of our business. We’ll continue to do that running forward and we’re prepared and qualified to make sure every little thing we do is in accordance with the HVCC. The process of ordering appraisals has changed, however. If you are a homeowner in need of an appraisal of your house, a lawyer needing a property appraisal, and even if you’re working for a small community bank or credit union and will continue to communicate directly with appraisers, click here -ORDER- to order an appraisal now. If you are a mortgage loan officer or a home mortgage broker who isn’t allowed to order appraisals right from an individual appraiser and are searhing for an HVCC-compliant appraisal ordering system or service, I recommend using the Mercury Network -Click Here- for ordering HVCC-compliant appraisals. I’m actually...

Pin It on Pinterest