Fannie Mae and Freddie Mac have jointly provided the Appraiser Independence Requirements to ensure appraiser independence and non-influence of the appraisal process of selection, ordering, and communication with appraisers from the loan production and origination process. An outgrowth of the original HVCC (Home Valuation Code of Conduct) from the 2008 financial reforms, AIR strengthens and promulgates appraisal independence rules that govern all secondary market transactions. Such transactions are also governed in an overarching way by the Dodd Frank Interim Final Rule.

An FAQ about AIR and specific answers to questions about who can order or choose appraisers and AMCs as well as guidelines covering appraisal management process can be found at Fannie Mae's AIR FAQ.