Home Valuation Code of Conduct - Latest Updates

Check back often for the latest updates pertaining to the Home Valuation Code of Conduct (HVCC), which is scheduled to take effect May 1, 2009.

Home Valuation Code of Conduct (HVCC) - Myths and Realities

The Appraisal Institute has drafted a "Myths and Realities" document on the Home Valuation Code of Conduct (HVCC) in an attempt to dispel some of the misinformation in the marketplace today on the HVCC, particular as it relates to the use of third party management companies.

Click here to download the "Myths and Realities" document

UPDATED JULY 2009: Home Valuation Code of Conduct FAQs by Fannie Mae

Home Valuation Code of Conduct FAQs by Freddie Mac

Federal Housing Finance Agency (FHFA) Notice: Strengthening Appraiser Independence and Improving the Valuation Process - Update on Enterprise Implementation of the Home Valuation Code of Conduct

Click here to download the FHFA notice

Appraisal Institute Podcast: Home Valuation Code of Conduct Update

Bill Garber, Director of Government and External Relations for the Appraisal Institute, provides an update on the Appraisal Institute’s take on the HVCC and recent legislative efforts surrounding this issue.
Listen now

Fact Sheet

Review the key provisions of the agreement:
Download the Fact Sheet

Recent Articles

Mortgage Bankers Association (MBA) Publishes Summary of NY-OFHEO-Fannie-Freddie Appraisal Settlement

Kanjorski Commends Cuomo on Appraisal Agreement

NYAG Leapfrogs Feds in Targeting Appraisals

NAMB Issues Statement on Mortgage Appraisal Agreement

American Bankers Association's Letter to Cuomo/Fannie Mae/Freddie Mac/OFHEO

Fannie Mae Votes Lender-Captive AMCs off the Island (TAVMA Article)

ASA Applauds Actions of New York Attorney General To Ensure Appraiser Independence, but Suggests Changes to Agreement

Zaio Applauds Landmark Agreement

Zaio CEO's Letter to NY Attorney General Andrew Cuomo

FNC Platforms Ensure Lenders Comply with New Fannie/Freddie Guidelines

OFHEO, NY Attorney General, Fannie Mae and Freddie Mac Sign Agreements to Combat Appraisal Fraud

Statement of Robert E. Bostrom, Freddie Mac Executive Vice President and General Counsel, on the Appraisal
Standards Agreement with New York Attorney General and OFHEO

Announcement for Comments

Freddie Mac Seeks Mortgage Industry Comments on New Appraisal Code of Conduct

Fannie Mae Announces Comment Period Through April 30, 2008 (Recently added)

OFHEO to Review Comments on Enterprise Appraisal Code (Recently added)

Copies of Agreements

Fannie Mae Agreement <

Freddie Mac Agreement

Home Valuation Code of Conduct

Appraisal Industry Response

Here is the response of the Appraisal Industry to Attorney General Cuomo regarding his agreement with Fannie Mae/Freddie Mac:

Appraisal Industry Letter

Comment Letters from the Appraisal Institute and Other Organizations

Appraisal Institute/ASA/ASFMRA/NAIFA Comment Letter to Fannie Mae/Freddie Mac/OFHEO

Alabama Real Estate Appraisers Board's Letter of No Confidence

American Bankers Association's Comment Letter to Fannie Mae/Freddie Mac

The Appraisal Foundation's Comment Letter to Freddie Mac

Banking Trade Organizations' Comment Letter to OFHEO

FDIC to OFHEO

Federal Trade Commission's Comment Letter to Freddie Mac <

Independent Community Bankers Association's Comment Letter to Fannie Mae/Freddie Mac

Mortgage Bankers Association's Comment Letter to OFHEO/Fannie Mae/Freddie Mac

NAHB's Comment Letter to Freddie Mac <

National Association of REALTORS' Comment Letter to Fannie Mae

North Carolina Appraisal Board's Comment Letter

OCC/OTS/Fed/NCUA to OFHEO

Office of the Comptroller of the Currency's Comment Letter to OFHEO

Office of Thrift Supervision's Comment Letter to Freddie Mac

Attorney General Cuomo’s Press Conference

2008 Press Conference and Press Release