HVCC has caused havoc with appraisals – help may be on the way

By Dennis Norman, on June 26th, 2009

Dennis Norman

By: Dennis Norman

May1st the new Home Valuation Code of Conduct (HVCC) went into effect with regard to appraisals and the controversy over it began.

It seems no one likes it; not appraisers, real estate agents nor lenders.  Many complain it is slowing down the home sale process and increasing the cost of buying a home.

This week Charles McMillan, the President of the National Association of REALTORS(R) sent a letter to New York Attorney General Andrew Cuomo and Federal Housing Finance Board Director James Lockhart asking for an 18 month moratorium to allow time to fully explore the pros and cons of HVCC.

Yesterday Representatives  Travis Childers and Gary Miller introduce H.R. 3044, a bill which would impose an 18 month moratorium on HVCC.  It’s too early to know if this bill will have the support necessary to carry it through congress and find it’s way to the desk of President Obama…

Related posts:

1. Financial Reform Bill Kills HVCC; Helps Appraisers
2. Fed regulator says we may be seeing some bottoming of the market
3. Home Valuation Code of Conduct (HVCC): Protection for Lenders and Homebuyers
4. Home Valuation Code of Conduct; HVCC – What it is and what it isn’t
5. HVCC, AMC’s and the Appraisal Industry; a view from the inside

June 26th, 2009 | Tags: appraisals, charles mcmillan, federal housing finance board, gary miller, h.r. 3044, Home Valuation Code of Conduct, HVCC, National Association of Realtors, travis childers | Category: Real Estate Market, Special Posts

5 comments to HVCC has caused havoc with appraisals – help may be on the way

• Financial Reform Bill Kills HVCC; Helps Appraisers | Real Estate Investors Daily

  July 17, 2010 at 2:35 pm · Reply

  [...] do know is the Home Valuation Code of Conduct (HVCC) is dead. It’s been a while since I have written about HVCC but to refresh everyone’s memory HVCC is something has wreaked havoc with home buyers, [...]

• Financial Reform Bill Kills HVCC; Helps Appraisers | St Louis Real Estate News

  July 16, 2010 at 10:38 pm · Reply

  [...] do know is the Home Valuation Code of Conduct (HVCC) is dead. It’s been a while since I have written about HVCC but to refresh everyone’s memory HVCC is something has wreaked havoc with home buyers, [...]

• Financial Reform Bill Kills HVCC; Helps Appraisers | Real Estate Consumer News

  July 16, 2010 at 10:38 pm · Reply

  [...] do know is the Home Valuation Code of Conduct (HVCC) is dead. It’s been a while since I have written about HVCC but to refresh everyone’s memory HVCC is something has wreaked havoc with home buyers, [...]

• Financial Reform Bill Kills HVCC; Helps Appraisers | Real Estate Industry News

  July 16, 2010 at 10:37 pm · Reply

  [...] know is the Home Valuation Code of Conduct (HVCC) is dead.  It’s been a while since I have written about HVCC but to refresh everyone’s memory HVCC is something has wreaked havoc with home buyers, [...]

• NextStep Real Estate

  January 21, 2010 at 2:01 pm · Reply

  I am excited that I came across your website . I look forward to getting to know more about you. I sell Fairhope Real Estate in Alabama . Check out my website . I am exploring ways to broaden my network . Thanks again!

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