Our goal is to provide relevant topics that have a direct impact on your day-to-day appraisal process. Additionally, we will be providing information on current events in the industry that may have a direct impact on our clients, such as the “Home Valuation Code of Conduct� listed below. To get started, just "CLICK" any link below that interests you.
LENDERS
Please read this article, the HVCC is effective as of May 1, 2009.
Home Valuation Code of Conduct (HVCC) (Effective May 1, 2009)
Fannie Mae Home Valuation Code of Conduct - FAQ's
Frequently Asked Questions to the HVCC which help to clarify what lenders can and cannot do.
Freddie Mac - Home Valuation Code of Conduct - FAQ's
Minor amendments to the HVCC requirements
Fannie Mae Announcement 09-01 (HVCC Amendments January 2009)
Cuomo's statement on the new HVCC Agreement effective May 2009
Research links to assist you in learning and preparing for the possible implementation of the HVCC.
APPRAISERS
FNMA - Condo Project Eligibility Guidelines (12-16-2008)
Updated qualification requirements
FNMA Appraisal Changes (1004MC) - Announcement 08-30 (12/2008)
This announcement covers four new Updated Policies (1) Implementation of the Market Conditions Addendum* to the Appraisal Report (2) Use of supervisory appraisers (3) Requirement to provide the sales contract to the appraiser and (4) Requirement regarding the appraiser's selection of comparable sales. There are also several clarifications on existing policies.
*Market Conditions Addendum (1004-MC) is Effective April 1, 2009
Required April 1, 2009.
Appraisal and Property Report Policies and Forms - FAQs (12/2008)
November 2008
Revised Eligibility Requirements for FHA Roster Appraisers (12/2008)
New rules for FHA appraiser qualifications and use of only certified appraisers. Provides implementation dates and criteria for lenders using FHA appraisers and for the appraisers since the use of uncertified (licensed only) appraisers will not be allowed.
By Using the links above you will be leaving the Aven Appraisal Management web site and re-directed to a third-party web site that we do not administer, control, or have any affiliation.
These links and articles are provided as a courtesy and solely for the purpose of education relating to real estate appraisal. While we believe these sites present valuable and up to date information, it is up to the reader to decide how the information affects their business model.