Appraisal & Valuation Archive

Early Reports Indicate HVCC Driving Up Fees

It started this past weekend with Ken Harney’s article in the Washington Post “New Appraisal Rules Come with Costs“. Mr. Harney reported that the cost of an appraisal for the consumer increased approximately $125 (from $325 to $450) as...

NAR Adopts Policy to Regulate AMCs at Midyear Legislative Meetings

On Saturday, May 16, 2009, the NAR Board of Directors adopted policy that supports the regulation of appraisal management companies, primarily through FIRREA and the existing appraisal regulatory infrastructure. NAR President Charles McMillan hinted at such a policy in...

Appraisal Foundation – February Q&A

QUESTIONS REGARDING 2010-11 REVISIONS TO THE ETHICS RULE The Appraisal Standards Board recently adopted changes to the Conduct section of the ETHICS RULE that will become effective January 1, 2010 for the 2010-11 edition of USPAP. The specific language...

My Month as “Ask the Expert”

Agents and appraisers have a lot to gain from each other, by cooperating, and each doing things right and explaining them to the other. ...

NAR Supports Appraiser Independence in Recent Testimony

The 2009 National Association of Realtors President, Charles McMillan testified before the House Financial Services Committee on HR 1728, “the Mortgage Reform and Anti-Predatory Lending Act of 2009” last week. While discussing the legislation, Mr. McMillan specifically addressed Title...

NAR Calls for Delay of HVCC

On April 20, 2009, NAR sent a letter to Fannie Mae and Freddie Mac requesting that the Home Valuation Code of Conduct (HVCC) be delayed until May 1, 2010. Citing a host of reasons, NAR President Charles McMillan said...

Increase in Fees Required to Purchase Home

Ken Harney has an interesting article on the increase in fees that are being proscribed to home-buyers. He includes this section on appraisals: On top of these extra fees, borrowers are now starting to get hit with two sets...
April 20, 2009

“They don’t want good appraisers”

The Center for Public Integrity has posted a great report on the developments of the appraisal profession over the last few years. The report discusses how appraisal pressure has influenced the housing market and includes this section on the...
April 15, 2009

HVCC Modifies Mortgage Broker Restrictions

Fannie and Freddie will now allow mortgage brokers to order appraisals through a lender’s designated AMC. From Freddie Mac’s Home Valuation Code of Conduct FAQ: Can a broker initiate an appraisal request through a lender’s designated appraisal management company...
April 14, 2009

The 1004MC Form

CYA when using this form...more words may be better than fewer. ...