The Home Valuation Code of Conduct (the Code) is the result of a joint agreement between Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), and the New York State Attorney General to enhance the independence and accuracy of the appraisal process, and provide added protections for homebuyers, mortgage investors and the housing market.

Effective May 1, 2009, Freddie Mac and Fannie Mae will no longer purchase mortgages from Sellers that do not adopt the Code with respect to single-family mortgages that are delivered to Freddie Mac. Also, effective for single-family mortgages with loan application dates on or after May 1, 2009, Freddie Mac Seller/Servicers must represent and warrant that the appraisal report is obtained in a manner consistent with the Code. The sale of the following mortgages is excluded from the representation and warranty: FHA/VA Mortgages, Section 184 Native American Mortgages, and Section 502 Guaranteed Rural Housing Mortgages.

AppraisalComply, is a secure, online appraisal routing and communications technology tool that lets lenders keep their established relationships while helping them stay complaint with the Home Valuation Code of Conduct (HVCC). With AppraisalComply, lenders can choose to continue to work with their established appraiser panels, and when an appraiser is needed in a different city or state, they can order appraisals from a third-party AMC (Appraisal Management Company).

AppraisalComply is designed for Lenders who want to stay compliant with HVCC and also want to internalize their appraisal ordering and management duties. AppraisalComply tracks all ordering processes and messaging that occurs within the system and lets you print out these communications logs for hard copy storage in case of an audit.