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There seems to be as many opinions about the HVCC as there are people who are affected. Now that we are more than 2 months into the Mandatory Compliance with the HVCC, it appears that it is being accepted and is actually giving a sigh of relief to many real estate professionals. Most appraisers appear to be happy with the fact that the pressure to "Hit a Value" is gone. Most of those in the "Non Production" side of Lending like it as it relieves them of the responsibility for an undesirable appraisal outcome. There appears to be a very low percentage of bad appraisals or unhappy recipients of the appraisals thus far. The largest category of complaints have come from the Mortgage Brokers, who have lost any control they may have once had in the entire appraisal process. In my opinion, it was long past due and appears to be working in it's present form, but like all new programs, changes will surely be forthcoming in the future.

Please share your thoughts regarding the HVCC.