Vendor Code of Conduct Policy

ANPVCC 6/9/2015 6/9/2015

Appraisal Nation Vendor Code of Conduct Policy

Appraisal Nation maintains an appraisal panel and system in compliance with the Fannie Mae Appraiser Independence Requirements (AIR) formerly the HVCC and Part IV Federal Reserve System 12 CFR Part 226 Truth in Lending. The current regulations are law and require that our appraisal affiliates maintain compliance.

To become an approved appraiser with Appraisal Nation, appraiser must be of good moral character, professional, and agree to the following requirements:

Appraisal Nation Requirements:

1. Appraiser must maintain active, current, appropriate licensing and/or certification requirements for the state in which the appraiser is completing appraisals in. Appraiser must provide updated license copies to Appraisal Nation annually.

2. Appraiser must maintain a minimum of $500,000 Errors and Omissions coverage and provide Appraisal Nation with a copy of the certificate of coverage annually (prior to expiration) and include the declarations page in every report.

3. Appraisers must have at least three years of full-time field appraisal experience.

4. Complete and return a signed W9 annually.

5. Appraiser must have no infractions or violations that have resulted in sanctions from any state appraisal board, secondary lender, or financial regulatory agency. Appraiser must notify Appraisal Nation in writing or email to immediately if notified by any governing body, lender or secondary lender of ineligibility.

a. If assignment is completed by appraiser whom is ineligible with any secondary entity, the appraiser agrees to forfeit the fee for the assignment.

6. Provide Appraisal Nation with the geographic area in which you are able to perform competent appraisals.

7. Appraiser must include in report: Interior Photo’s as required by Fannie Mae, 1004MC, Copy of Current License and E &O Declaration Page and all applicable Fannie Mae Requirements.

8. All reports must be USPAP compliant and delivered on UCDP compliant forms in XML format whenever possible.

a. Appraiser agrees to accept full responsibility for any USPAP violation resulting from the completed appraisal.

9. All reports require interior inspection by a Certified Appraiser.

10. All FHA and USDA (rural development) assignments will contain a statement regarding the FHA/HUD Minimum Standards and will be completed by a FHA Approved Appraiser.

a. This includes all applicable FHA required inspection items.

11. Appraiser must valid driver’s license and be authorized to work in the state he performs appraisals.

12. Appraiser must agree and abide by Appraisal Nation’s Code of Conduct when performing assignments for Appraisal Nation.

13. Appraiser must agree and abide by Appraisal Nation’s Professionalism and Dress Code policy when performing appraisals for Appraisal Nation.