At a National Association of Mortgage Brokers (NAMB) meeting on 8/24/09, FHA Commissioner David Stevens assured members that the FHA will not be adopting the Home Valuation Code of Conduct (HVCC). In fact, lenders may deal directly with local appraisers whom they know and trust. This means appraisal management companies (AMCs) are not required for FHA transactions. Instead HUD will be exploring alternatives to the HVCC that will insulate appraisers.