Tag: appraisals
HVCC gets Jack’d up
For professionals in the housing industry (mortgage, appraisal, & real estate) the new appraisal rules known as the Home Valuation Code of Conduct (HVCC) is a hot topic these days. These rules which became effective May 1st were designed to improve the accuracy and integrity of appraisals. However, as many professionals is the housing industry [...]
Posted: July 20th, 2009 under For Professionals, Mortgage Qualification.
Tags: appraisals, home valuation problems, problems with HVCC, problems with new appraisal rules, summary of problems with HVCC
Comments: 1
“Appraisals: 101″ crash-course
The final piece of a mortgage application that a bank is interested in reviewing is the property itself. After all, if a borrower fails to make their monthly payments then the bank will take the house back and sell it in order to recoup the money that they loaned against it. The value of a home will [...]
Posted: August 15th, 2008 under General Mortgage Info., Mortgage Qualification.
Tags: appraisals, cost approach, sales comparison approach
Comments: 2