DartAppraisal.com, a Troy, Mich.-based provider of residential real estate valuations, says it is one of four appraisal management companies to have been integrated into Ellie Mae's recently announced HVCC-Compliant Appraisal Services program.
‘The new program initiated by Ellie Mae, combined with the pending HVCC regulations, will serve to elevate the level of independence and transparency between appraisers and mortgage brokers or lenders," says Darton Case, president of DartAppraisal.com. "This independence will help to reduce opportunities for bias throughout the industry. Furthermore, it will serve to enforce the strict standards which DartAppraisal.com already has in place and extend those same standards on this platform."
Fannie Mae, Freddie Mac and the Federal Housing Finance Agency have agreed on a revised code of conduct that aims to improve the reliability of appraisals on mortgage loans purchased by the two home funding companies.
The amended home valuation guidelines, which go into effect May 1, seek to create more independence for residential real estate appraisers, allowing them to provide fair and accurate appraisals free from pressure by lenders or brokers.