Appraiser Independence Policy Manual
Appraisal Policy - Including Appraiser Independence Rules (AIR)
Dodd-Frank Wall Street Reform and Consumer Protection Act codified the Home Valuation Code of Conduct into law by incorporating it into Regulation Z - Truth-in-Lending, and naming it the Appraiser Independence Rule. Many companies incorrectly believe that by simply using a third party Appraisal Management Service. There are many other elements that a company must address, including the review of appraisals and the procedures for including non-approved appraisers.