Welcome to NAMB’s Home Valuation Code of Conduct (HVCC) Resource Center.


Recent News


December 11, 2009: House of Representatives passes H.R. 4173, the "Wall Street Reform and Consumer Protection Act of 2009."  NAMB worked hard with Members of Congress and their staff to incorporate language into the CFPA bill to, upon enactment, sunset the HVCC and allow loan originators, licensed or registered in accordance with the SAFE Mortgage Licensing Act, to order appraisals directly. 




On December 23, 2008, New York Attorney General Cuomo released a revised HVCC included in the agreements with Fannie Mae and Freddie Mac, and their new regulator the Federal Housing Finance Agency . The revised HVCC is a de facto regulatory action, failing to follow necessary regulatory procedure. The Home Valuation Code of Conduct (HVCC), as written, goes too far.  It will impair consumer choice and impede competition, ultimately costing consumers more money and hurting small businesses in a way simpler, more effective, less burdensome solutions would not.

Want to help NAMB fight the HVCC? Utilize the advocacy tools available at the HVCC Resource Center! Also available below is information on the HVCC as it has developed since being originally introduced. This includes position papers, letters to Congress and regulatory agencies, comment letters and more.

June 18th: On Thursday, June 18, former NAMB President Marc Savitt, CRMS testified before the House Financial Services Subcommittee on Oversight and Investigations entitled “Strengthening Oversight and Preventing Fraud in FHA and other HUD Programs.” In his testimony, Savitt will address industry concerns regarding the Home Valuation Code of Conduct (HVCC) as well as call for a Department of Justice investigation into the findings from Attorney General Cuomo’s investigation of fraudulent appraisal practices perpetrated by WaMU and eAppraiseIT. Click here for more information on the hearing.

June 3rd: On Wednesday, June 3rd, the House Financial Services Committee held a hearing entitled "The Present and Future of Fannie Mae & Freddie Mac." Multiple members of Congress questioned FHFA Director James Lockhart III about the HVCC. Click here for a link to the video. Rep. Biggert questions GSE fees and HVCC at the 2:39 mark. Rep. Manzullo questions the HVCC at the 2:52:37 mark followed by Rep. Miller (CA). Rep. Capito alsto mentions the GSE fees in her opening statement. 

May: In May, NAMB officials met with New York Attorney General Andrew Cuomo’s office to discuss the impact the HVCC is already having on consumers and the industry. NAMB also submitted e-mails and information from various members of the industry to the Federal Housing Finance Agency (FHFA) outlining the detrimental impact of the rule. NAMB is continuing to accept e-mail submissions with specific evidence regarding problems that the HVCC has caused for everyone involved in the mortgage process. NAMB is also in the process of requesting Congressional hearings on the HVCC.

NAMB was successful in securing language in H.R. 1728 (passed by the House of Representatives) that called for an in-depth study of the effects of the HVCC. This bill has not yet been signed into law. NAMB has been requested by the Federal Housing Finance Agency (FHFA) to collect personal experiences from mortgage professionals and/or consumers of specific problems directly caused by the HVCC. See below for additional information on how you can contribute your experiences. NAMB is continuing to investigate other avenues by which to fight the HVCC. Please see below for what NAMB has been doing since April 2008 to fight the HVCC. NAMB will send weekly HVCC updates via News from NAMB (members only).


Already Encountering Problems Caused by the HVCC? NAMB wants to know!


NAMB has been requested by the Federal Housing Finance Agency (FHFA) to collect personal experiences from mortgage professionals or consumers of problems directly caused by the HVCC.  These problems can consist of increased costs, appraisal quality, portability issues, regulatory issues, etc. You must include specific, tangible evidence of how the HVCC has harmed your consumers and/or prevented you from conducting business.


Send an email, including your contact information, to hvcc@namb.org explaining the problem and it will be included in NAMB’s report to the FHFA.


How Can You Help Fight the HVCC?


Make a donation to the Legal Action Legislative Fund and save your business! Your donation will only be used to support NAMB’s legal and legislative efforts to fight the HVCC.


Or Join the 49 Club and set up a recurring contribution!


Press Releases


HVCC Causing a Drop in Home Values (9/16/2009)

NAMB Applauds Introduction of HVCC Legislation (6/25/2009)

NAMB Issues Statement on House Passage of H.R. 1728 (5/7/2009)

NAMB’s Strategic Withdrawal of Legal Action Against FHFA (4/2/2009) 

NAMB Files Lawsuit Over Controversial HVCC (2/23/2009)

NY Attorney General, GSEs Release Revised Appraisal Agreement  (12/24/2009)

NAMB Issues Statement on Mortgage Appraisal Agreement  (3/3/2009)


Other Resource Material


HVCC (12/24/2009)

NAMB Position Paper (2/2009)

Lawsuit – NAMB vs. Director James B. Lockhart III, FHFA (2/23/2009)

NAMB Letter to Congress (3/31/2009)

NAR Letter to FHFA, GSEs, NY Attorney General Andrew Cuomo (4/20/2009)

Congressional Letter to FHFA (4/30/2009)
Representative Manzullo (R-MA) Letter to FHFA (4/30/2009)

Proposed Rule – Interagency Appraisal and Evaluation Guidelines (11/13/2008)

NAMB Comment Letter (4/30/3008)

MBA Comment Letter (4/30/2008)

NAR Comment Letter (4/30/2008)

ABA Comment Letter (4/30/2008)

ICBA Comment Letter (4/30/2008)

NAHB Comment Letter (4/30/2008)

Joint Banking Comment Letter (4/30/2008)

Joint Appraisal Comment Letter (4/30/2008)

FDIC Comment Letter (6/20/2008)

FTC Comment Letter (4/30/2008)

OTS Comment Letter (4/30/2008)

OCC, FRB, OTS, NCUA Comment Letter (4/30/2008)


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