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Appraisal Cooperative produces excellent recommendations for HVCC revisions

Real Estate Appraiser with Pointer Appraisal Services

In a cooperative venture of the Appraisal Institute, American Society of Appraisers, American Society of Farm Managers and Rural Appraisers, and the National Association of Independent Fee Appraisers an 11 page letter has been released in response to the recent developments in the Home Valuation Code of Conduct (HVCC).  The HVCC is a product of Fannie Mae, Freddie Mac, and the New York Attorney General office in response to the growing recognition of problems of appraiser coercion, and lender pressure.  

The most notable change for consumers is the call for dislosure on the HUD forms for the amount actually paid to the appraisal provider and the amount paid to for the management of that appraisal.  Borrowers may be surprised to see how much much of what is presently billed as appraisal fees is actually going to the management of those appraisals. 

A copy of the letter is available here:


It appears to address some of the primary concerns of residential appraisers. I believe this joint venture produced an excellent letter to regulators and a call for action to solve many of the issues with the original HVCC draft.

Russell Kitzberger
Pointer Appraisal Services LLC, Stow Ohio
Residential and Commercial Appraisal in Northeast Ohio