It's the hottest topic in real estate today: The Home Valuation Code of Conduct, or HVCC, is so hot that it's not just inflammatory. It's on fire. The HVCC is a new set of appraisal-related practices that lenders must follow with respect to loans they want to sell to Fannie Mae or Freddie Mac. These new practices are intended to reduce the incidence of appraisal fraud and prevent inappropriate pressure being placed on appraisers to inflate home valuations in home purchase and loan refinance transactions. Mortgage brokers, appraisers and real estate agents are up in arms over the HVCC. They've ranted on blogs, called their congressional representatives, written letters to the editor, signed online petitions and more. They want these rules to be stopped, undone, reversed, blocked, p...
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