Comments on: HVCC is Up and Running. How's it Going? http://lenderama.com/2009/05/15/hvcc-running-hows/ The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005. Fri, 19 Mar 2010 20:00:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Water damage http://lenderama.com/2009/05/15/hvcc-running-hows/comment-page-1/#comment-4282 Water damage Sun, 01 Nov 2009 15:57:21 +0000 http://lenderama.com/?p=2537#comment-4282 Disgruntled real estate professionals are proposing reforms to the reforms, including an 18-month moratorium on the Home Valuation Code of Conduct. How about building a database, fed by Realtors, to ensure accuracy. <br><br>Some homes with dead lawns and ratty roofs sell cheaply, but by the time the appraiser uses them as comps they've been repaired. The appraiser might assume the home was pristine at the time it was sold, and that it's low price was reflective of the overall market. <br><br>One further wrinkle: To win the business of banks, some of the appraisal management companies offer clients guarantees that homes they appraise won't fall into mortgage default. That means it's sometimes better to err on the low side. Disgruntled real estate professionals are proposing reforms to the reforms, including an 18-month moratorium on the Home Valuation Code of Conduct. How about building a database, fed by Realtors, to ensure accuracy.

Some homes with dead lawns and ratty roofs sell cheaply, but by the time the appraiser uses them as comps they've been repaired. The appraiser might assume the home was pristine at the time it was sold, and that it's low price was reflective of the overall market.

One further wrinkle: To win the business of banks, some of the appraisal management companies offer clients guarantees that homes they appraise won't fall into mortgage default. That means it's sometimes better to err on the low side.

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