In an effort to clear up any rumors that may be circulating about the rules imposed by Fannie and Freddie’s Home Valuation Code of Conduct — the HVCC, the good folks at both the Appraisal Institute and NAR were kind enough to compile lists of those myths. We urge you to read them.
HVCC Prohibits REALTORS® and
lenders from talking to appraisers.
REALTORS® and lenders can talk to appraisers, including requests to consider additional data in the valuation…
And this from the Appraisal Institute’s version:
Myth: The HVCC requires lenders to use Appraisal Management Companies.
Reality: Use of appraisal management companies is not required under the Home Valuation Code of Conduct (HVCC). Lenders may engage appraisers directly without the use of third parties.
That is all.