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Fannie Mae Releases Appraiser Independence Requirements

By Dennis Norman, on October 29th, 2010

Dennis Norman

Now that the controversial (to put it mildly) Home Valuation Code of Conduct (HVCC) has been put to rest as part of The Dodd-Frank Wall Street Reform, Fannie Mae has released their “Appraiser Independence Requirements“. Fannie Mae says the purpose of these requirements is to:

Protect the independence of appraisers and the [...]

H.R. 4173; The Dodd-Frank Wall Street Reform and what it means to appraisers

By Frank Gregoire, on September 13th, 2010

Frank Gregoire

My world was much different in the late 1980’s. Although I was in the real estate business and the real estate appraisal profession for a decade, political activity did not interest me. Here at Gregoire & Gregoire, we had already been using a networked mini-computer for appraisal reporting since 1983, but I [...]

HVCC, AMC’s and the Appraisal Industry; a view from the inside

By Paul Collins, on August 18th, 2010

Editor’s note – Last month we published an article about HVCC which drew quite a few comments and responses….one such response was from veteran appraiser Paul Collins in which he shares his frustration with the state of the industry and the impact of lenders and legislation on his industry. Our thanks to Paul for allowing [...]

Financial Reform Bill Kills HVCC; Helps Appraisers

By Dennis Norman, on July 16th, 2010

Dennis Norman

07/17/10-Correction – This past week Congress passed H.R. 4173, the Wall Street Reform and Consumer Protection Act which is the most comprehensive reform to the banking industry since the Great Depression.  The bill now awaits President Obamas signature which is expected to happen in the coming week.

This is a very comprehensive [...]

Incentives, Concessions, Tax Credits and Tax Abatements

By James MacCrate, on August 13th, 2009

In the current unstable real estate market, we hear reports from the National Association of Realtors and many economists that the real estate residential housing market is stabilizing. This is based on several factors including recent price increases in several metropolitan markets, an increase in pending contracts of sale, and increase in overall residential market [...]

Buyers are returning to the market – Home sales up 4 months in a row

By Dennis Norman, on July 7th, 2009

By: Dennis Norman

Lawrence Yun, Chief Economist, NAR

It appears that lower prices along with low interest rates are bringing buyers back into the market as the market continues to show signs of life and gives us hope that we may be near the bottom.

The National Association of REALTORS(R) issued their Pending Home [...]

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 [...]

Home Valuation Code of Conduct; HVCC – What it is and what it isn’t

By Dennis Norman, on June 6th, 2009

Dennis Norman

By: Dennis Norman

Practically the entire real estate industry seems to be abuzz about the Home Valuation Code of Conduct (HVCC) that went into effect May 1st. I first wrote about it back in early April in a post on this blog.

Since Fannie Mae and Freddie Mac implemented the new rule [...]

Home Valuation Code of Conduct (HVCC): Protection for Lenders and Homebuyers

By Dennis Norman, on April 20th, 2009

After May1st Fannie Mae and Freddie Mac will no longer accept loans that do not comply with The new Home Valuation Code of Conduct (HVCC). [...]