Angie Questions Benefits of HVCC

Angie’s List Magazine published an article this past weekend expressing concerns with the Home Valuation Code of Conduct (HVCC). The article focuses on the impacts to the consumer, particularly around geographic competency and the increasing cost of the appraisal.

We contacted more than a dozen highly rated mortgage brokers and appraisers on Angie’s List, and the consensus view on the HVCC was the cost of appraisals have jumped in price from $300 on average to $500 or more. The National Association of Mortgage Brokers estimates it will cost consumers an estimated $2.8 billion a year in extra fees.

  1. While not a paid member of Angie’s List, I am in agreement. Many homeowners nowadays almost act shocked when I quote “standard”- not marked up appraisal management company fees. Without a doubt, the consumer is paying more on average for home appraisals after the HVCC.