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FAQ's
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
Industry 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.
Quality Mortgage Services has joined the technologies of Mortgage Analysis Review Software (MARS) and Appraisal Management Software (AMS)
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 appraisal management companies (AMCs) say they are HVCC compliant but they cannot perform Section VI. What makes Quality Mortgage Services
HVCC Reports different than others is that the appraisal review is evaluated with the total loan package and the appraisal compliance
package producing a report that QC managers need to link fraud, misrepresentation, LTV, credit and loan risk with the
appraiser 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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