News Archive

FOX 5 in Washington, DC on the HVCC

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New Audio Conference on Appraisal Changes: NAR Members Save 25%!

New Inside Mortgage Finance-sponsored research suggests that appraisal issues have emerged as one of the biggest obstacles for would-be homebuyers this summer. Find out what type of appraisal problems have emerged and how to deal with them at this...

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?...

NAR Survey Results Highlight Impact of HVCC

Yesterday, a preliminary analysis of a NAR survey was released, which indicates that the implementation of the Home Valuation Code of Conduct (HVCC) appears to be having adverse impacts on the housing markets. The use of out of area...

New Bill Urges HVCC Moratorium

Representatives Travis Childers (D-MS) and Gary Miller (R-CA) co-sponsored legislation, HR 3044, that will institute an 18-month moratorium on the Home Valuation Code of Conduct (HVCC). According to HousingWire.com, Childers’ concern is how the code is negatively impacting small...

AMCs v. Direct Contact – It’s A Dead Heat

The Appraisal Institute reports on a finding by Global DMS that the number of lenders directly ordering appraisals is roughly the same as the number of lenders using AMCs. According to the report, AMCs may be suffering from client...

Appraisals Making it Harder to Refinance or Sell

Today’s Wall Street Journal reports on the impact appraisals are having on the real estate transaction, whether it be a sale or refinance. The article covers all the current hot topics of the appraisal industry: HVCC, AMCs, and appraiser...

Existing Homes Sales Rise for April

The National Association of REALTORS today reports that existing homes sales increased in April, particularly for lower cost homes. According to NAR, 4.68 million single-family, townhomes, condominiums, and cooperatives sold in April. This represents a 2.9 percent increase (seasonally...

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...

Homebuyers Allege Inflated Sales; File Suit Against KB Homes, CountryWide

A group of homeowners in West Valley, AZ today filed suit against KB Homes and Countrywide contending the two conspired to inflate the selling price of homes during the peak of the housing market and even as prices began...