Tampa Bay Property Appraisal

Consulting Products & Services: Our experienced consulting team spends their time on
the ground. Their work in the field helps executives make great decisions and maximizes
profitability. Superior market intelligence is applied to all kinds of great project work for consulting
clients.
Free Products & Services: Each month, we post current data and statistics on our website.
Our blog feature on the homepage is another place where we offer timely insight.
Tax Portability: While the collapse of housing market has significantly reduced the benefit of
the tax portability, if you have owned your home for a long time (a decade or more) you could still
recognize significant benefit.
HVCC and Financial Reform: In response to the collapse of the housing bubble and to
avoid future litigation that was being pursued the former Attorney General of New York, the GSE’s
(Fannie Mae and Freddie Mac) adopted the HVCC with little public or industry input. The Home
Valuation Code of Conduct (HVCC) establishes standards for solicitation, selection, compensation,
conflicts of interest and appraiser independence. It is effective May 1, 2009, for any mortgage that
will be sold to Fannie Mae or Freddie Mac; Federal Housing Administration (FHA) and Federal
Home Loan Bank (FHLB) mortgages are not covered in the agreement.
Home Valuation Code of Conduct
In part because Congress was bypassed through the implementation of HVCC, they sought to once
again gain control of the business practices of Fannie Mae and Freddie Mac through the Dodd-Frank
Financial Reform Act.
Dodd-Frank FAQ: The real estate appraisal and consulting industry has changed
dramatically over the last few years. A recent government regulation has encouraged the
proliferation of Appraisal Management Companies (AMCs). By some estimates these
relatively new organizations, that are largely owned by the largest banks and title
companies, control approximately 90% of the mortgage valuations in the country.
Unfortunately for consumers and lenders, the product produced by AMCs are both more
expensive and of a far lower quality.
Why is this?
In general, Appraisal Management Companies are huge corporations that were granted an
oligopoly over the residential real estate valuation industry by Congress through the Dodd-
Frank Finance Reform Bill. Their business model is to solicit appraisal business from
lenders across the country and then outsource the assignment to an appraiser that is local.
In return for matching up the lender with the appraiser they receive 25-50% of the
appraisal fee for this service.
For more information please visit: http://www.asset-value.com