Yet another tool to help lenders meet the Home Valuation Code of Conduct compliance requirements emerged today. The HVCC enacted on May 1, completely altered the appraisal business, essentially requiring that appraisers are selected and assigned to all appraisals on a blind basis via third-party platforms. This also meant loan origination systems began altering the way they conduct business, in order to ensure lenders comply with regulations quickly and easily. The latest compliance tool came to be from a partnership between Michigan-based Mortgage Builder Software and Appraisal Management firm DartAppraisal.com. “We simply integrated DartAppraisal.com’s service to Mortgage Builder’s platform, enabling our users to comply easily and seamlessly,” said Keven Smith, CEO of Mortgage Builder. Now, instead of ordering appraisals with providers of their choice, lenders select the DartAppraisal.com option within the online origination system. The order is sent instantly and electronically to DartAppraisal and the ordering process is complete. The Appraisal Management Company (AMC) handles the logistics and notifies the lender of an anticipated delivery date and billing, without phone calls, emails or other steps that might normally delay the process. Smith says his company will continue to add AMCs in coming months, in order to ensure HVCC compliance is easy for all clients. Write to Kelly Curran.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please