Compliance
Measures are taken each step of the way throughout the entire appraisal process to ensure full compliance with Dodd-Frank, and GLBA. Marketwise valuation is fully committed to complete compliance and secure communications throughout your entire order. Our vendor management platform allows for fully secured communication between both us and the appraiser, and us and our clients. All appraisals are delivered in a fully secured, password-protected link or by other means determined by the client. Our platform is both secure and versatile, which can be tailored to meet each client’s compliance protocols.
Quality Control
Marketwise manually reviews each and every appraisal that we process utilizing our expert review staff in conjunction with industry-leading automated quality control software utilized during the review process. In conjunction with manual review, our automated QC process produces a fully-compliant audit trail for review alongside each file. Each report has an Automated Quality Index report with it that provides an easy to read list of items that might require further review by underwriting staff. A score at the top of the report provides a quick view into the severity of any issues.
Dodd-Frank Act
The Dodd-Frank act outlined many new regulations that clearly define appraisal independence as it relates to all consumer mortgage transactions. Marketwise Valuation Services is dedicated to clearly separating lender and appraiser; we aim to articulately communicate and act as a reliable medium for both parties to accomplish their transactions cleanly and efficiently. Each and every transaction completed by a Marketwise appraiser is explicitly Dodd-Frank compliant and free of any undue influence by either party.
GLBA
Under the Safeguards Rule, secure the transmission, receipt, and storage of data relating to any consumer’s NPI at all times, via passwords, encryption, and physical protection, backed by a written information security plan. Under the Privacy Rule, provide easily understood privacy statements to any consumers who engage the appraiser directly, disclosing the gathering, sharing, and security of NPI data, as well as the methods the consumer may use to opt-out of sharing of the data with third parties
Marketwise is committed to compliance. Here are a few guidelines we ensure to comply with:
- Fannie Mae/Freddie Mac (GSE) Appraiser Independence
- Federal Housing Administration (FHA)
- Truth in Lending Act (TILA)
- Dodd-Frank Act
- AMC Final Rule
- FIRREA Title XI
From many years in the business, we have learned that communication is our client’s top priority. Through our on boarding process, one of our initial promises we make to our clients is that they will have access to our dedicated staff on the phone. You won’t have to deal with an elaborate process or headaches each time you pick up the phone for answers. We understand the importance of timely answers and promise each and every client access answers quickly.
Uniform Collateral Data Portal
Our powerful vendor management platform allows us to submit each appraisal directly to UCDP on behalf of our clients. Each report can be automatically submitted to UCDP with SSR’s accompanying the final appraisal package. One less step for our clients can add up to a whole lot of time savings.
FHA Portal
Along with our easy UCDP integration, our FHA products can easily be submitted to the FHA’s Electronic Appraisal Delivery portal with the proper SSR’s accompanying the reports in the final appraisal package.
