Cryptocurrency: Everywhere you look, there it is. Businesses are offering for you to purchase items with it. Banks and credit unions are investing in it. The financial world is, simply put, obsessed with it. And despite it being a fairly new technology, every time anyone looks, it keeps getting more and more relevant.So what exactly […]
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Appraisal compliance — it’s been the buzzword for the last decade. With banks required to manage more and more requirements on the same budgets, with the same teams, it’s never been more crucial for financial institutions to establish a process that works correctly from the get-go. But before you can establish a foolproof process, there […]
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The Dodd Frank regulations created and adopted after the financial crisis of 2008 have finally started to roll back, thanks to the new reforms approved just this year. With the early feedback that the community banking sector will be most affected by the regulation changes, we talked with Roger Shumway, Executive Vice President & Chief […]
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There’s no doubt about: Summer is in full swing! From the constant stream of “out of office” replies to the sweltering temps outside — it’s clear we’re in the heat of things. As Q2 comes to a close, we’re highlighting the top industry stories, from the implementation of the new BSA regulations to how blockchain […]
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While historically banks focused just on the appraisal, in the past decade, the appraisal review has become a more significant part of the appraisal process. At its core, an appraisal review is used to investigate, analyze, and verify the logic and procedures of an appraisal. Not only does a review ensure appraisals are prepared completely […]
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Whether you are the borrower, appraiser, lender, or the AMC—it pays to know just who is responsible for appraisal fees in real estate transactions. Because there are so many parties involved, it’s not always intuitive and many times not all of the parties involved in the transaction are on the same page regarding payment arrangements […]
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While the Equal Credit Opportunities Act and the compliance guidelines associated with them aren’t exactly new rules (they were implemented in 2013), we have a feeling navigating them is a little tricky. Let’s start with a short history lesson: ECOA was originally implemented in 1974 to prohibit creditors from discriminating due to race, religion, ethnicity, […]
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The temperatures are rising, the pollen is back, and tax season is nearly here. Those three events can only mean one thing: Q1 is coming to a close! This quarter, we’re sharing the latest from the OCC, as well as what you need to know about the most recent financial news and changes in risk […]
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It’s no secret that some real estate appraisal terminology can be a bit confusing. Between USPAP standards and ever-changing laws and regulations, you can sometimes be left scratching your head. As one of the top appraisal management companies, we like to make sure we’re answering all of your inquiries, no matter how tough or confusing […]
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Appraisal independence is a huge part of regulatory compliance for banks and credit unions, and it’s one of the first things your regulator will look for during any review. If we drill down to a definition, independence means that a real estate appraiser must be left alone to develop their own valuation conclusions and opinions. […]
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