Implement HVCC compliant business processes quickly and easily. Appraisals 2U is a fully compliant appraisal management company, fire-walling the direct communication between the mortgage
production department and the appraiser. We provide the following:

• A National Panel of HVCC Compliant Appraisers
• Ability to Manage HVCC Compliant Appraisers
• Implementation of Appraiser independence safeguards and non-influence policies.
• Full visibility and reporting for Appraisal ordering with complete audit trail
• Flexible order systems that accommodates the way you prefer to do business

The Home Valuation Code of Conduct (HVCC) went into effect May 1, 2009. These guidelines will
change the way you do business with Appraisers. Fannie Mae and Freddie Mac will no longer accept
loans that do not adhere to the HVCC.

1. The appraisal fee must be made payable to Appraisals 2U by credit card or check when
   the appraisal is ordered and invoiced.
2. Appraisals 2U will only accept appraisal orders from persons that are specifically identified
   as HVCC Compliant and authorized by the lender.
3. Appraisers are selected by experienced personnel with several years of appraisal experience.
4. Appraisers are selected in compliance with HVCC requirements. They are Licensed or
   Certified in the states in which the appraisal is performed and are properly insured.
5. The Lender and their staff will have no involvement in the selection of the appraiser.
   All communication with the appraiser will be through Appraisals 2U, the appraisal
   management company (AMC).
6. We will perform quality control reviews of all appraisers that are affiliated with us to
   determine USPAP and HVCC Compliance before forwarding the completed appraisal to
   the designated lender.
7. All appraisers are required to submit evidence of licensing, insurance and continuing
   education. Additionally, Appraisals 2U educates appraisal personnel on Lender policy,
   HVCC requirements, USPAP updates with appraiser independence with communications
   only through the AMC.
8. Violation of Appraisals 2U guidelines or the Madison policy and procedures will result in a
   written warning for minor infractions. Major infractions or second offenses will result in the
   removal from the AMC approved appraiser panel. Major infractions will also be reported to
   the appropriate governing agencies as well as the appropriate Lender.
9. All appraisal requests are promptly ordered and tracked. Appraisals are completed 48 -72 hours after inspection. They are reviewed and forwarded, via e-mail, immediately upon completion.

| FHA COMPLIANCE |