Jun 04, 2009
HVCC info you may not have
04 Jun 2009
Posted by Andrew Kantor
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.