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Appraiser Independence

Fannie Mae and Freddie Mac announced October 15, 2010 new appraiser independence requirements which have replaced the Home Valuation Code of Conduct (HVCC).

These requirements maintain the spirit and intent of the HVCC and were effective the date of the announcement October 15, 2010.

Per Fannie Mae:

The Appraiser Independence Requirements were developed to replace the Home Valuation Code of Conduct (HVCC). These requirements:

  • Protect the independence of appraisers and the integrity of their appraisals.
  • Extend these important protections for home buyers, mortgage investors, and the housing market.
  • Reinforce Fannie Mae's commitment to responsible lending and mortgage quality standards.

For implementation details and supporting information, please refer to Announcement SEL-2010-14 and the requirements.


Fannie Mae Appraiser Independence Requirements


Per Freddie Mac:

In continued support of strong appraiser independence requirements that provide important protections to homebuyers, mortgage investors, and the housing market, we announced our revised appraiser independence requirements (AIR) in the October 15 Single-Family Seller/Servicer Guide Bulletin 2010-23.

AIR is based on certain standards from the Home Valuation Code of Conduct (Code). The revised requirements maintain the spirit and intent of the Code and ensure that we continue to maintain the hightest standard of appraiser independence and appraisal reliability for the industry.

The AIR requirements are effective on October 15, 2010, and replace the requirements of the Code, which is expiring.


Freddie Mac Appraiser Independence Requirements

If you have questions about appraiser independence or need additional information on how to become compliant, contact us at 1-866-691-4313 or email compliance@appraisersdirect.com

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