Las Vegas real estate, mortgage, appraisal blog

Although the HVCC is being praised by many for resolving issues such as blacklisting and appraiser independence, it is also making many nervous with its occasionally vague wording and AMC involvement. In fact, an article on AppraisalScoop.com shows that many appraisers are not as happy as appraisal organizations make them out to be.

Appraisers expect the organizations who represent them will choose the correct side of issues, those which will strengthen the ability of the appraisal profession to perform in a manner worthy of the public trust.

"Yet every appraiser with whom I have spoken has been incredulous that the coalition of appraisal organizations did not immediately stand in opposition to the so-called "agreement" brokered last week between New York Attorney General Andrew Cuomo and Fannie Mae/Freddie Mac to implement their "New Home Value Protection Code" including the "Home Valuation Code of Conduct" (HVCC)"

 

There is even a Top 10 list of problems that appraisers are having with the HVCC. With these changes coming soon, some in September and some in January, it seems a good time to really figure out what is going on and what needs to be amended.