Ross Miller

Flopping Valuations Right Under the Nose of the HVCC HW+

Way back in August 2009, HousingWire Magazine asked if the Home Valuation Code of Conduct (HVCC) would become a blueprint for disaster. Considering that this past Monday, the Mortgage Asset Research Institute (MARI) said reports of appraisal fraud are up 50%, the question is again front and center at mortgage industry water coolers. In 2008, MARI said suspected appraisal/valuation fraud stood at 22% of mortgage fraud reports. In 2009, that jumped to 33%.