New 'code of conduct' for appraisers

By Marcie Geffner - Bankrate.com

If you want to buy a home or refinance your mortgage, you might not be all that concerned about how your lender selects the appraiser who figures out how much your home is worth. But new rules intended to reduce appraisal fraud and curtail undue pressure on appraisers could have some dramatic repercussions for homebuyers and homeowners.

Proponents say the new rules will result in more reliable appraisals, less fraud, lower costs and minimal disruption. But critics expect less accurate appraisals, delays in loan processing, higher costs and general misery for all concerned.

Read on: http://www.bankrate.com/brm/news/mortgages/20090316-new-appraiser-code-a1.asp?prodtype=mtg