HVCC Appraisal Info

How the HVCC Affects Real Estate Appraisers and Mortgage Lenders

Update - The HVCC is no longer effective. Instead Fannie Mae has issued it's Appraiser Independence Requirements

Below material about the HVCC is left in place temporarily for reference:

The Home Valuation Code of Conduct (HVCC) is effective May 1, 2009. It affects only 1-4 family loans sold to Fannie Mae and Freddie Mac. It does not affect FHA loans, VA loans, or other loans not sold to Fannie Mae and Freddie Mac. It also does not affect non-lending loans, such as relocation appraisals, estate appraisals, divorce appraisals, or the like.

The purpose of the HVCC is to preserve the independence of the appraiser from improper influence by the parties who order appraisals. You can read the HVCC full text below. Also we have provided a link to the Fannie Mae (FNMA) FAQ regarding HVCC.

HVCC Full Text (opens in new window)

Q & A About the HVCC and AppraiserUSA.com:

Q. How does the HVCC affect AppraiserUSA.com?

A. Since AppraiserUSA.com is not a user of appraisals, not a lender, and not an AMC, we are not affected. We are an advertising directory only. People use our directory to find real estate appraisers. It is up to those who order appraisals to comply with the HVCC.

Q. Does the HVCC mean I will have to work for an AMC?

A. In our opinion, no! While some mortgage brokers may now have to use 3rd parties to order their appraisals, other lenders will not. Lenders may set up a system in house to order appraisals to insure that they comply with the HVCC.

Q. How can I use AppraiserUSA.com to maximize my business after the HVCC takes affect?

A. Many of our appraisers are using AppraiserUSA.com to increase their work from lenders that ARE NOT affected by the HVCC. Such as FHA lenders, non-mortgage broker business, banks who lend their own money, REO appraisals, individuals, estates, relocation appraisals, and attorneys.

Q. What if I want to do business with AMC's?

A. Since many AMC's use our directory to locate appraisers you can also use it to build your business with AMC's if you choose to. In any event, people need to find appraisers and AppraiserUSA.com provides them the fastest, easiest to use, and most complete directory of Real Estate Appraisers in the entire USA!

Q. How can I differentiate myself and my business from all the other appraisers?

A. In our opinion you need to find a niche! If you are offering what everyone else is offering then there is little reason for someone to use you over your competition. Specialize! Network! Build up a clientele offering personal, accurate, and reliable service! Be the best at your specialty! And putting yourself at the top of the list with our Directory Positions can't hurt either! Also if you do FHA work, make sure you check "FHA" in your listing so you will show up on our FHA Search Page. If you do Relocation appraisals, be sure to check "relocation" in your listing so you will show up on our Relocation Page

Q. How else can I market my appraisal business?

A. Local - Personal contact is always the best so start with that. Present a professional appearance and visit those who might be potential clients. Bankers and Attorneys for starters. Offer to speak at their meetings. Become known as THE local appraiser that people contact when they really want to know what the value of a property is.

National - Many orders come from out of state now. In addition to using AppraiserUSA.com you should have your own website! If you do have one and it isn't working for you then you need to make changes in your website! We have many customers through our sister site at AppraiserSites.com who have been with us 5 or more years that get tons of business through their web sites! You can't just put up a web site and sit back and wait! There are many things that can be done to attract out of state lenders to your web site.

Q. What is the bottom line?

A. In order to have appraisal assignments you have to be found! The HVCC does not change that. It just changes who orders the appraisals in some cases! No matter who you work for or what type of appraisals you perform if your name isn't available to those who order appraisals you will get less work! The more people who have your name and order appraisals from you the more money you make! If you get more business than you can handle then you can start to concentrate on the higher paying assignments and decline the marginal paying assignments! AppraiserUSA.com can help you do that.