HVCC stands for the Home Valuation Code of Conduct.  It was instituted by Andrew Como, the Attorney General of New York.

Read the material and watch the video on the following link.  It is very interesting.

http://www.appraisersupport.com/AS/Home.html

As an appraiser who is dedicated to the residential sector, I agree with what is being said in this article and video.  The consumer is being ripped off by AMC’s.  The appraiser is being ripped off by AMC’s.  And, the net result of the AMC dominance in the industry is that the worst appraisers get the most work and the best appraisers get left out.

Why is this?  Because the worst appraiser will work for the least amount of pay.  The best appraisers charge a fair fee for their services and do ALL THE WORK REQUIRED TO COMPLETE THE ASSIGNMENT.  The AMC’s make their money based on how big a spread they can create between what the lender pays them and what they pay the appraiser.

Ergo, AMC’s are “bottom fishers.”  They look for the least amongst us to do their work, and pay them the least,  thus increasing the AMC’s profitability.

Now, “Go Fish.”

Ralph K. Olsen, MAI, SRA, IFA

Pacific West Appraisal Services, Inc.

pwas.net