Press
Valligent integrates with Clearbox to solve appraisal compliance
ROSEVILLE, CA (June 29, 2015) — Valligent, a leading provider of appraisal review and collateral due diligence services, has integrated with Clearbox, LLC, a leading provider of appraiser credentials and compliance for valuation service providers. Together, they will provide lenders with the most comprehensive appraiser selection and due diligence services available in the mortgage industry.
Until now, lenders have had limited solutions for conducting appraiser due diligence. Through the integration, lenders can obtain Valligent’s solutions through Clearbox and Clearbox’s solutions through Valligent, combining Clearbox’s appraiser credentialing database and background checks with Valligent’s collateral auditing services. The result is unprecedented power for lenders when it comes to monitoring appraisal compliance.
“Too many lenders rely solely upon appraisal management companies for appraiser selection and appraisal quality, yet it is the lender and only the lender that is responsible for both,” said Jeremy McCarty, CEO of Valligent. “Now that regulators are starting to focus on appraisal due diligence, we are delighted to partner with Clearbox to provide lenders a full spectrum of solutions in this increasingly prominent area.”
“Access to better data means lenders can now make informed decisions,” notes Clearbox, LLC Founder and CEO Joan Trice. “This integration is a perfect marriage of blending appraisal quality scores with appraiser credentials. After all, honest and competent appraisers produce credible appraisal reports. No doubt, this is a winning formula.”
According to both companies, the integration also provides lenders with tools to work proactively with their appraisal panels to identify potential risks. Over time, these measures will result in fewer loan losses and may ultimately contribute to the eradication of appraisal fraud. Both Valligent and Clearbox provide process documentation and extensive monthly reporting, which can be made available to share with regulators in the event of an audit.
About Valligent
Founded in 2002, Valligent is the singular provider of residential appraisal due diligence, regulatory compliance, appraisal underwriting and quality advancement to the lending industry. Valligent is based in Roseville, California and can be found on the Internet at www.Valligent.com.
About Clearbox, LLC
Clearbox®, LLC was founded to address the complex landscape of compliant appraisal processes and data management. The Clearbox® suite of products offers solutions to all stakeholders—Appraisers, Real Estate Agents and Brokers, Lenders, Appraisal Management Companies and Regulators.