HVCC Compliance

The importance of properly understanding HVCC compliance is more important now then ever before. By understanding what it takes to effectively manage the appraisal process will empower you to make an educated decision regarding your appraisal needs and your HVCC Complian solution.

There are multiple way to become compliant but ultimately it comes down to just two. Either you:
1. Handle HVCC Compliance internally or
2. You outsource the process to a third party vendor.

Answering this questions of what to do really depends on your business model. Also what your goal as a company is should be considered heavily.If your a small bank completing loans in only one or two states with relatively low volume (50 or less)it might be feasible to keep the compliance process in house. However once you get into multiple states with multiple offices and a larger volume hiring a third party vendors becomes the best option by far.

The reason is simple, experience and money.

To efficetively manage an office moving 100 or more units per months its going to take a team of at least three people. Two admin and I staff apprasier for Quality Control. These three people alone would cost upwards of $200,000 as an expense to the company.

A third party vendor could handle the exact same thing for no cost. Also by hiring a third party company it allows you to not only get a HVCC Compliant solution at no cost but also enable the spirit of compeition among vendors and customer service.

From what I have experinced and the industry leaders I am in contact with the third party management company is the best option for most companies. The appraisal process is a very involved process and hiring a professional third party firm to manage the process is extremely effective way and the best way.

Our clients love working with us because they know that we are experinced, responsive and timely. Having a go-to company with a strong realtionship is not only vital to your sucess as a company but to the sucess of your loan officers and your customers.