Appraiser CooperativeAlternative To Appraisal Management Companies
The Effects of HVCC
A review of the HVCC regulations clearly indicates that the proposed legislation is specifically directed at curbing Mortgage Industry practices. View a list of frequently asked questions by clicking here.
Unfortunately, the law of unintended consequences is in play and the resulting havoc (adverse effects) will be borne chiefly by the consumer, appraisers, and mortgage brokers alike.
To view the Home Valuation Code of Conduct, Click here.
We note with amusement, that "Nothing in the HVCC requirements is intended to establish new requirements or obligations that require a lender to obtain a property valuation or to use a particular method for property valuation (ie. Appraisal, AVM or BPO) in connection with any mortgage loan or mortgage financing transaction, or affect the acceptable scope of work for an appraiser in connection with a particular assignment."