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QMS provides full term Home Valuation Code of Conduct (HVCC) compliance through its HVCC Reporting for the investor and agencies.
HVCC Reporting
RESPA FAQ's
For QC Managers
Compliance
References
Industry Associations
Legal & Regulatory
Vendor Associations
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HVCC Reporting
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Section VI of the HVCC, states that 10% of appraisals be reviewed for compliance purposes by using Desk Review, AVM, Field Review,
or BTO.
National Mortgage Appraisers and Quality Mortgage Services have joined technologies in order to bring the HVCC compliance to full
term by producing HVCC reports for the investor and agencies that include:
- Mortgage Production Report Summary
- Loan Rating
- Loan Summary
- Mortgage File "Player Association"
- Appraisal Finding
- Appraiser Rotation Report
- Appraiser Rotation Production Report (Number and Percentages)
- Appraiser Equal Opportunity (Minority Percentages)
- Appraiser Rotation Production Report Year-to-Date (Number & Percentages)
- Appraisal Grading (Green, Blue, Amber, Red)
- Red Flags
Most AMCs say they are HVCC compliant but they cannot perform Section VI. What makes Quality Mortgage Services and National Mortgage
Appraisers HVCC Reports different than others is that the appraisal review is evaluated with the total loan package and the AMC
package producing a report that QC managers need to link fraud and misrepresentation, LTV and credit, and loan risk with the
appraisal association.
The Future of HVCC Reporting
View the PowerPoint presentation, The Future of HVCC Reporting, from the Mortgage Bankers Quality Assurance and Residential Underwriting Conference 2009
Contact us to learn how Quality Mortgage Services can help you be prepared for HVCC Compliance.
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