The advantages are many and fall into three categories – compliance, risk and recruiting. Interagency Guidelines issued on December 10, 2010 reinforced the need for lenders to perform appropriate due diligence on their fee panels. We collect the data and give you the tools to manage your lists efficiently. The risk associated with continuing to do business with those who have cost you and other institutions financial harm is costly. If you need to add an appraiser to your panel, we have a list of every licensed appraiser in the US.
The Office of the Comptroller of the Currency (OCC) issued a bulletin on October 30, 2013 on Third-Party Oversight. While ordering a background check is not mandatory, due diligence is. Most everyone has concluded that a background check is just one of many things that must be considered.
If you need to recruit appraisers to your fee panel, Clearbox has a robust database with extensive information about each registered appraiser.