The current mortgage problems have hatched the Home Valuation Code of Conduct (sounds like the Boy Scouts….and maybe that is not a bad model).
http://www.freddiemac.com/singlefamily/docs/030308_valuationcodeofconduct.pdf
There has been substantial rumbling in the appraisal community because it restricts who might order appraisals for mortgage lending…only the lender….real estate agents or mortgage brokers can’t order the appraisal. It also changes the protocol of the appraisal process and the transferability of appraisals.
Appraisers are afraid it will upset existing relationships (which from my reading it would) and therefore cost them substantial monies (which is probably a reasonable assumption). It would make much greater use of AMCs (appraisal management companies) and therefore consolidate how lenders get appraisals.
Richard Pace 