News & Events

New Guidance on HVCC from Fannie Mae

Fannie Mae has issued guidance regarding the Home Valuation Code of Conduct. The guidance includes a reminder to lenders that appraisers must have the appropriate knowledge and experience for a specific geographical location and particular type of property.

Other items in the guidance document:

• * The HVCC does not require the use of an appraisal management company (AMC)
• * Nothing in the HVCC prohibits real estate agents or brokers from contacting the appraiser about concerns or errors with the appraisal
• * Appraisers may use data from short sales and foreclosures if they deem that information appropriate for the assignment.

Please click on the link above for the guide.  It is also posted under the Documents link on the Home Page.