HVCC is the Home Valuation Code of Conduct. This was put into place by the Attorney General of the State of New York and adopted by Fanie Mae and Freddie Mac and then eventually by the entire lending industry. It’s not really a government law bu it is binding to the lending industry. HVCC is a rule that is intended to bring about separation between Appraisers and the Lenders. The idea was that part of the reason that the “mortgage meltdown” happened was that there was too much influence on the appraiser by the loan officer (LO) in a transaction. Continue Reading »