Last year, the Federal Housing Finance Agency approved the Home Valuation Code of Conduct (Code) to be implemented May 1, 2009. The code modifies Fannie Mae and Freddie Mac guidelines to improve the reliability of home appraisals and to restore appraiser independence. The intent of the code is to assure that all parties involved in the mortgage process receive fair and independent property valuations. The code puts in place new regulations governing: The process of ordering appraisals Appraiser Independence Improper influences on appraisers To read the code in it’s entirety, visit the following websites: