Methods

The center will address these abuses by the following methods.

• Obtaining the signatory status of lenders, management companies and appraisers who agree to a code of conduct, dispute resolution mechanisms and, for lenders and management companies, to utilize appraisers who are signatories on certain higher risk loans.
• Creating a tiered Certification Program for Lenders for valuation Assurance, similar to those utilized in manufacturing industries
• Continual pressure and lobbying at federal and state levels to enforce Federal and state laws and regulations..
• Influencing legislation on issues involving valuation abuse.
• Setting new and higher standards of conduct and best practices for lenders, GSEs, real estate brokers, appraisers, appraisal management firms and others, through voluntary compliance agreements with the Center.
• Creating education programs for lending personnel, real estate agents and appraisers to assure that they understand appropriate standards of what is proper and improper conduct.
• Creating public awareness of the need to deal only with lenders and appraisers which agree to be bound by a compliance agreement with the Center.
• Implementing a dispute resolution method that allows aggrieved valuation professionals and other signatories to file anonymous complaints against any person or entity that improperly attempts to influence a valuation, retaliates against anyone who refuses to raise a value or otherwise violates the Center's code of conduct.
• Gives appraisers a means of having an independent reviewer mediate disputes over valuation results with lenders-paid for by the lender which refuses to acknowledge the appropriateness of an appraiser's work product
• Represents aggrieved signatories with lenders, brokers, federal and state regulators to promote enforcement of laws and regulations.
• Publicizes lists of both signatories and those who have refused to sign and who have unresolved complaints against them.
• Gives public relations support to the issue of valuation fraud and abuse