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Archive for the ‘HVCC’ Category

June 1, 2010 An Update on HVCC

The Home Valuation Code of Conduct (HVCC), about which we’ve written several blogs, was enacted to provide better, more honest real estate appraisals. To say that the HVCC was and is controversial is a massive understatement, and most real estate appraisers have been counting down the days until November 1, 2010, when the HVCC agreement [...]

March 18, 2010 HVCC Not Going Away?

The controversial Home Valuation Code of Conduct (HVCC), which you can read about in our previous blog, “New HVCC Appraisal Rules Blamed for Destroying the Housing Market,” was slated to be terminated upon the creation of the new independent Consumer Financial Protection Agency. The new agency would assume responsibility for equal opportunity in credit, real [...]

November 19, 2009 Working with HVCC Regulations

A recent article in Banker & Tradesman suggests that consumer confidence in the real estate market is coming back. Coming out of the 2009 Realtors Conference & Expo in San Diego, the article indicates that in spite of the decline of the market, buyers are still looking for vacation and recreational properties. Industry experts, however, [...]

September 24, 2009 Recent Articles About HVCC Changes

We’ve written several posts this year about the HVCC changes and how they affect the appraisal industry. You can read those articles here. Over the last two weeks, there have been a couple of articles written about how those changes affect not only appraisers, but home owners. The Seattle Times published an article that followed [...]

September 17, 2009 Appraisal Organizations Address Letter to the FHA

A number of appraisal organizations, including the Appraisal Institute, the American Society of Appraisers, the American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers, released a memo to the Federal Housing Administration (FHA) regarding the Home Valuation Code of Conduct (HVCC) and FHA’s possible adoption of elements of [...]

August 25, 2009 News About HVCC Changes

There was an article in The New York Times last week about the changes to the Home Valuation Code of Conduct (HVCC) that went into effect in May of this year, which we’ve written about here and here. Essentially, the changes say that only lenders can order appraisals and that rather than going to an [...]

July 17, 2009 New HVCC Appraisal Rules Blamed for “Destroying the Housing Market”

A recent AP article contends that there is strong backlash against the new Home Valuation Code of Conduct (HVCC) rules that were enacted on May 1, 2009. “The new guidelines bar mortgage brokers from ordering appraisals themselves, forcing them to do so through a mortgage lender. Lenders may order appraisals through in-house staff or appraisers [...]

March 31, 2009 Present Value LLC and the upcoming HVCC changes

Earlier this month, we wrote about the Home Valuation Code of Conduct (HVCC) changes that will go into effect on May 1 of this year. You can read the full post here. Essentially, the changes state that lenders seeking a conventional appraisal, as opposed to an FHA appraisal, will be required to find an appraiser [...]