HVCC Archive

Midwest AMG on the Radio

Welcome Home Radio plays on KYNO940AM in Fresno, CA. This weekend they featured Marty Wagar from Midwest Appraisal Management Group. This AMC is a subsidiary of the Michigan Association of REALTORS. It also features a local appraiser. The reporter...

Blame the Appraisers

Interesting story from Fox Business blaming appraisers for current challenges in the housing market.  We’re certain there’s a fact somewhere in this story but we couldn’t find it....

Federal Reserve Board Issues Appraiser Independence Regs

Yesterday, the Federal Reserve Board released an interim final rule on appraiser independence.  The much-anticipated interim final rule is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203).  In their release, the Fed states...
October 19, 2010

Mortgage Brokers Left Out of Process in New Appraisal Code

The Frank-Dodd Wall Street Reform and Consumer Protection Act sunsets the Home Valuation Code of Conduct (HVCC).  The Code is set to sunset upon promulgation of new appraisal independence requirements due out in October. In a recent announcement by...
September 21, 2010

Here’s What You Need to Know About HR 4173

As you surely know by know, the President recently signed into law the Frank-Dodd Wall Street Reform and Consumer Protection Act (HR 4173).  Title XIV of the legislation, the Mortgage Reform and Anti-Predatory Lending Act, has significant appraisal reforms...

House Offer Includes Sunset of HVCC

In an announcement yesterday, Chairman Frank released the House Offer on the financial reform overhaul bill.  Language in the offer includes consumer protection, risk retention, mortgage reform and anti-predatory lending. The proposed amendment for Title XIV includes the provision...
June 22, 2010

FHFA Kills IVPI, Announces Complaint Process

In a letter to New York Attorney General Andrew Cuomo, the Federal Housing Finance Agency’s (FHFA) Interim Director, Ed DeMarco, announced that the Independent Valuation Protection Institute (IVPI) will not be implemented by Fannie Mae and Freddie mac.  The...
May 20, 2010

NAR Calls on Its State Presidents to Support HVCC Moratorium

On July 27, 2009, NAR held a Webinar with State REALTORS Association Executives and Government Affairs Directors to discuss steps states may take to address concerns with the Home Valuation Code of Conduct (HVCC). In the Webinar, state presidents...
July 31, 2009

New Appraisal Products

NAR recently updated it’s frequently asked questions (FAQ) document on the Home Valuation Code of Conduct (HVCC). You can get more information on HVCC at www.realtors.org/hvcc The Appraisal Foundation recently released a new brochure Why Engage A Professional Appraiser?...

Freddie Mac Releases New Guidance for Appraisals

On July 10, Freddie Mac released Bulletin 2009-18 to sellers and servicers. The bulletin addresses appraisals and underwriting. Regarding appraisals, the bulletin focuses on qualified appraisers, credible appraisers, comparable sales, and monitory appraisal quality. Freddie Mac reminds sellers that...
July 14, 2009