Missouri Appraisers Advisory Council

Action Needed! Please call Your State Representative Now! Click here for detailed information regarding MO House Bill 967 As you know, the Missouri Appraisers Advisory Council (MAAC) has been working to pass House Bill 967 – a bill that would require Appraisal Management Companies to be registered and regulated in Missouri. HB 967 provides basic standards for the ethical conduct of business of appraisal management companies in Missouri. It requires the registration of appraisal management companies engaged in the business of securing appraisals in the State of Missouri for their clients in exchange for compensation or gain. On May 1, 2009, the Home Valuation Code of Conduct (HVCC) will be implemented by Fannie Mae and Freddie Mac who are the two largest purchasers of residential real estate loans in the country. The HVCC was developed with the specific purpose to protect the public interest and ensure greater appraiser independence by requiring a “firewall” between the loan origination process and the loan approval process in engaging appraisers. Many larger lenders will accomplish the intent of the HVCC by creating in-house appraisal coordination departments or designating an in-house “appraisal coordinator” to serve as an independent interface or “firewall” between the loan originators and appraisers. Smaller loan originators (such as independent mortgage brokers and small credit unions) will be required to utilize the services of intermediaries often referred to as “Appraisal Management Companies” or “AMCs”. Effective May 1 in Missouri, the HVCC essentially mandates the use of AMCs for smaller loan originators in the residential loan process. The proliferation of new AMCs has already begun (former mortgage brokers, appraisers who have had their licenses revoked, etc.). Call Request! Please contact Your State Representative and ask him or her to VOTE YES on HB 967 when it comes to the House floor for debate -- possibly as early as April 8th, 2009. Please make your voices heard on behalf of Missouri consumers.

Don't forget to update your information for the MAAC Directory. (Click Here)

Your code is located on the back side of the postcards we've sent you under your name. With this code you can keep your business information for the Directory of Missouri Certified and Licensed Appraisers up-to-date online. This publication reaches bankers, attorneys and governement institutions throughout Missouri. To update your information grab the postcard that you've received from us in the mail and click on the postcard on the right.

Welcome to the Missouri Appraisers Advisory Council homepage. MAAC is comprised of representatives of the major appraisal organizations in Missouri, plus two members who represent independent appraisers. It was formed to work in coordination with other groups and agencies to ensure an effective appraiser certification law and system was set up according to federal mandates. MAAC continues to work in the area of appraisal legislation by monitoring legislation and regulations, consulting with other professional groups on legislation of interest, and providing opportunities for training and education through its annual conference. Please choose from the MAAC Menu above.

	The Appraisal Foundation
	Missouri Housing Industry Alliance
	Missouri State Real Estate Appraisers Commission

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