Home Valuation Code of Conduct

The Home Valuation Code of Conduct (HVCC) is effective after May 1, 2009 for residential loans delivered to Freddie Mac and Fannie Mac.
	HVCC is a joint agreement between Freddie Mac, Fannie Mac, the Federal Housing Finance Agency (FHFA), and the New York State Attorney General to enhance the independence and integrity of the appraisal process.  Click the following links to learn more about the code Fannie Mae's site about HVCC  Freddie Mac's site about HVCC Appraisal Institute about HVCC - AI's view of HVCC clarifies many confusion and misinformation in the marketplace.  Recommend for all brokers to read.

Under HVCC, the appraisal will not be available until after the broker has submitted the loan package.  To help brokers save time, efforts, and initiation fees, a AVM/BPO webpage was added to our site.  Brokers can used the FREE AVM links to get ideas of the proeprty value.  Broker can also order BPO (Desk appraisal) from ARA Real Estate Appraisals online for only $35.  In the BPO package or desk appraisal, a fair market value range for the property is provided along with supporting sold comps, listing comps, and/or pending comps. 

If you are seeking a FHA appraisal, your interaction with ARA Real Estate Appraisals Inc. won't be changed, as government loans are not under this regulation, lenders can still contact ARA appraisers directly to order FHA appraisals.

Click here for FAQ about HVCC