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HVCC is dead! Long live the HVCC!

So, the business agreement (not a law) that was known as the Home Valuation Code of Conduct is sunsetting this month.

In response to this sunsetting, Fannie Mae has developed their own appraiser independence requirements to take it's place and is essentially the same as the HVCC. The new requirements are clearer to read and understand. The rules still prohibit anyone who receives commission from a loan from ordering an appraisal. It does not prohibit mortgage company staff from ordering appraisals as long as there are rules/firewall in place that sperate those originating loans from those ordering appraisals.

Here's the link to the new Fannie Mae requirements. https://www.efanniemae.com/sf/guides/ssg/relatedsellinginfo/appcode/pdf/air.pdf

Next Appraisal is a residential appraisal company that services Contra Costa and Alameda counties.

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Porch Light Appraisal's investments in appraisal training and technology mean faster appraisal turn times for you & lower costs for everyone.

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Washington State Certified Appraiser, Appraisal Institute SRA Designation, FHA approved to appraise HUD insured properties. We have a passion for real estate valuation!

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Porch Light Appraisal, Inc.

800 NE Tenney Rd,

Suite 110-540,

Vancouver, WA 98685

Phone. 360-474-4147

Email. info@porchlightappraisal.com

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