Appraisal Management Companies

• Under the HVCC, lenders may hire independent appraisers, and do not have to use an appraisal management company. Lenders may also use in-house appraisers. If lenders choose an appraisal management company, the lender, not the real estate broker, must choose it.
  
  

HVCC-Compliant Appraisals

• Lenders, not appraisers, must ensure compliance with the HVCC. Lenders may obtain assurances from an appraiser that there was no improper influence on the results of the appraisal. Freddie Mac will no longer purchase mortgages that do not comply with the HVCC. Lenders should report any unethical appraisers.
  
  

Communications with Appraisers

• Lenders can communicate with appraisers, but they may not select or influence the selection of appraisers. Lenders and appraisers may not have any communications regarding the value of the property in question.
  
  

Choosing and Assigning Appraisers

• Lenders should choose appraisers based on their competence and experience regarding the property in question, and not based on a rotational list. Lenders may, however, use a rotating list of appraisers if they choose to do so.