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Servo Valuation Services, Ltd. is your HVCC Compliance Solution
(Servo Latin- to watch over, protect, preserve, guard)
The HVCC or Home Valuation Code of Conduct, has been adopted by both Fannie Mae and Freddie Mac. An important part of the agreement is the separation of loan officers and mortgage brokers and real estate appraisers. It has been asserted that appraisers too easily caved to pressure to arrive at predetermined inflated values of properties. The HVCC serves to address that concern by prohibiting the loan officer and mortgage broker from selecting the appraiser.
The easiest way for your organization to comply with this provision of the HVCC is through the use of an appraisal management company, or AMC. The mere mention of an AMC brings about mixed reactions from lenders and appraisers alike. Appraisers complain that AMCs push down the fees to below market prices while charing inflated rates to users of appraisals and pocketing the difference. Further, they argue that their reports are not submitted exactly as written and that certain data has been mined from the report. The primary concern for lenders is that given the low fees offered by many AMCs, the best and most experienced appraisers reject the order in favor of higher paying appraisal jobs.
Servo Valation Services, Ltd. is a a different kind of Appraisal Management Company. In this economic climate, it is imperative that valuations are performed by conscientious, well qualified appraisers. Servo Valuation Services, Ltd. is dedicated to providing you with just those types of appraisers. We know that you count on appraisers to value collateral that may remain as a loan on your books. Our appraisers are carefully screened and approved. They are experienced, properly licensed, and have geographic competence in the areas they serve. We retain these types of appraisers because we offer them the fees they require to perform the job properly.
We realize that you have long time relationships based on trust and mutually professional relationships. If you find yourself wanting to use your trusted appraisers but do not have the staff to enable compliance with the HVCC, we are your solution. Notify your appraisers that you will be utilizing Servo Valuation Services, Ltd. as your AMC. Provide us with their contact information and we will work with them to get set up with our system. You can continue using your appraiser panel and we will select the appraiser for each assignment based upon quality, turn around time, and experience with individual property types. We hand select the appraiser for each assignment, check the appraisal report for critical errors and certain appraisal reporting guidelines, and assure compliance with the HVCC.
The HVCC doesn't have to be an end to your trusted professional relationships with your appraisers. With Servo Valuation Services, Ltd., communication between the lender and the appraiser is entirely open and an audit trail is available if needed. You have access to status updates so you can know how long it will take for your appraisal to be complete. Certificates of compliance with the HVCC are available.
Call us today to see how we can become your appraisal guardian while preserving your professional relationships and keep watch over your appraisal management. | 
