The Home Valuation Code of Conduct (HVCC) is a set of rules implemented in 2009 that restricts how home lenders can interact with home appraisers. HVCC requires lenders to select appraisers through a third-party appraisal management company and does not allow the lender to directly interact with the selected appraiser. The code is designed to ensure that appraisal values are determined independently.

The HVCC code applies to conventional loans that are being sold to Fannie Mae or Freddie Mac and does not apply to FHA/VA loans.