The April 2 article by Tim Grant of the Pttsburgh Post-Gazette starts . . . "Some say agreement [Home Valuation Code of Conduct] governing appraisal process will do little to improve the system."

Appraisers who work on behalf of appraisal management companies complain that many such companies hire appraisers based on who will work for the lowest fee and provide the fastest turnaround rather than the quality of work, experience of the appraiser or complexity of the assignment.

A new agreement by government-backed mortgage finance companies Fannie Mae and Freddie Mac that takes effect May 1 will shake up the home appraisal industry by giving appraisal management companies a stronghold on the appraisal process.

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