HVCC guideline

EVP Solution

Approved appraisers must be appropriately licensed or certified by the state in which the property to be appraised is located.

Our approved appraiser listing consists of personally selected, quality proven professionals with current state licensing. In addition, we follow all state appraisal association guidelines for standards and disciplinary action. We tangibly encourage advanced designation with higher fees.

Lender employees are prohibited from direct contact with the appraiser

Our advanced web-based system allows quick and easy order placement, by either direct input on the website or by fax/email. Quality appraisers are selected in rotation and are able to obtain and deliver all information electronically. You will be check status along the way by simply logging on for detailed information for each order. In addition, our customer service team is available for any issues not addressed by the system.

Appraisers may not collect direct payment from the lender or borrower.

Our package of service includes timely invoicing and subsequent bi-weekly payments to appraisers. We are able to accept electronic funds and credit card payments to streamline the billing process.

Lenders can request that an appraisal be supported or that factual errors be corrected.

We provide thorough customer service, serving as a medium for the lender and appraiser to reach successful conclusion of a report, including follow-up questions and value dispute resolution. Your deadlines and time constraints are important to us and are used to provide timely service.

Lenders agree to perform quality control tests on at least 10% of appraisals by use of retroactive or additional appraisal reports or other appropriate method.

Along with basic review of each completed appraisal, EVP offers 2 levels of service: 1) LENDER PERFORMED Quality Control Testing, and 2) EVP PERFORMED Quality Control. Our Quality Control testing consists of a certified and experienced appraiser independently supporting appraised value by appropriate means (ie subsquent appraisal).

Lenders must provide to Fannie Mae or Freddie Mac a report of any adverse or irregular QA findings.

By allowing EVP to perform your Quality Control, you will be provided with quarterly quality reports for review that can be forwarded to Fannie Mae and Freddie Mac by the Lender, or EVP upon request.

Lenders must notify appraisers and borrowers of the IVPI (Independent Valuation Protection Institute) hotline for complaints concerning any improper influence on appraisers or the appraisal process.

A completed appraisal will have attached a copy of the notification for the borrower, which can be delivered by the lender with the copy of the appraisal. Upon setup with our system, each appraiser will receive and acknowledge receipt of a copy of the notification

Lenders will need to demonstrate their compliance with HVCC.

Each appraisal report will contain an additional document to serve as certificate of compliance.