The document summarizes changes to the appraisal industry before and after the Home Valuation Code of Conduct (HVCC). Before the HVCC, lenders had more control over appraiser selection and compensation, potentially introducing bias. Problems included pressure on appraisers to influence values. The HVCC now restricts lender influence over appraisers. It prohibits loan officers from selecting or communicating with appraisers. This has increased costs and time for borrowers but aimed to improve appraisal independence and quality. Looking ahead, efforts continue to ensure appraiser competence and independence through potential regulation of appraisal management companies and non-AMC solutions that identify trusted appraisers while conforming to the HV