Everyday there seems to be a new rule. Some may be good, others are horrible. HVCC (Home Valuation Code of Conduct) is a horrible change. The rule was implemented because it was felt that we (loan originators) had too much influence on the appraisal process. Now, instead of being able to work with appraisers we know do accurate work, we have to order the appraisal through a third party who assigns the appraisal to a stranger. The really bad part is that if we cannot do a loan through a particular investor, the appraisal is no good and we have to order another through the next investors appraisal management company. Yes, some investors will take an assignment from the previous investor but it is usually the exception, not the rule. This was supposed to protect the lender and the buyer but it has raised the cost of doing business. Lets face it, everyone needs to play the blame game and unfortunately our legislators have decided it is the fault of the originators and the appraisers rather than focusing their regulatory efforts on the perpetrators of the financial meltdown, the folks who made the mortgage debacle possible, investment banks and our friends at Fannie and Freddie. The answer to a sound mortgage industry is common sense underwriting, it's that simple.