Audit Solutions for Lender & AMC Appraiser Panels

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About Validox™

Validox Services are FREE to Lenders & AMCs
Validox - Valuation Audit Compliance That You Can Rely On

The cost of non-compliance has never been greater, and as lending compliance regulations continue to surge and their costs continue to soar, there has never been a greater need for a single source of verifiable valuation and appraiser related compliance that satisfies the demands of regulators.

The CFPB, OCC, NCUA, Fannie Mae, Freddie Mac, FHA, Individual state and other regulatory agencies are required to expand their auditing activities to include a large increase in the amount of documented information related to Appraiser Independence and Risk Management. Validox provides the required verified documentation necessary to help comply with CFPB, OCC, NCUA, Fannie Mae, Freddie Mac, FHA audits, as well as the other federal and individual state agencies.

No Lender or AMC can afford to be caught without the proper verified documentation proving compliance.

When AMCs register with State Appraiser Boards the mortgage lender and AMC are certifying that they have audit-proof systems and verified documentation to prove the following:

  1. Ensure all appraisers produce all reports in compliance with USPAP
  2. Review appraisers' work with a formal review done by a certified appraiser in the particular state
  3. Verify Good Standing and use of only valid licensed or certified appraisers
  4. Provide evidence of Customary and Reasonable fees for appraisers
  5. Remove an appraiser from a list of appraisers in a method that does not violate appraiser regulations
  6. Allow appraisers to adequately review an assignment request prior to acceptance
  7. Ensure that appraisers are Geographically Competent
  8. Ensure that appraisers are Product-type Competent for every assignment
  9. Archive all critical documentation for audit purposes, engagement letters & communications
  10. Compensate appraisers by deadlines established by state specific laws

Validox provides the documentation necessary to assist with these appraisal regulations and additional regulatory audits as referenced in the following:

  1. Federal Reserve 12 CFR Part 226 (Regulation Z- Truth in Lending: Docket No. R-1394) Interim Final Rule dated October 25, 2010(Appraiser Independence---"Dodd Frank")
  2. HUD Handbook 4000.1 (Appraiser Independence Safeguards ) as well as all other required HUD standards.
  3. Final Rule Department of the Treasury 12 CFR Parts 34 and 164, 12 CFR Part 226 (Board of Governors of Federal Reserve System) 12 CFR Part 722 (National Credit Union Association) 12 CFR Part 1026(Bureau of Consumer Financial Protection)
  4. Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)
  5. Uniform Standards of Professional Appraisal Practice "USPAP"
  6. Appraisal Subcommittee “ASC”
  7. Federal National Mortgage Association “Fannie Mae” rules, FAQ's and selling guidelines
  8. Federal Home Loan Mortgage Corporation “Freddie Mac” rules, FAQ's and selling guidelines
  9. All applicable individual state appraisal management administrative rules as promulgated by the individual state appraiser boards.
  10. All applicable individual state appraiser and/or appraisal management laws and regulations including:

  11. All future licensing and regulatory laws now contemplated
AL-SB320, AZ-SB1351, AK-AMCS, CA-SB237, CO- HB 12-1110, CT-PA10-77, DE- SB38, FL-HB-303 , GA-HB1050, IL-HB 2956, IN-HA1235, KS-SB-345, KY-HB 288, LA-HA1235, MA-H 124, MI- HB 4975, MD-HB102, MN- SF2510,, MS- HB1337, MT – HB 188, NE- LB410, NV-AB287, NH- SB153, NJ- ASM 3827, NM-AMC1022, NC-SB 829, OH-HB515, OK- HB2772, OR-HB3624, PA-HB 398, SC-H.3717, TN-PC963, TX-HB1146, UT-HB152 & T61Chap2(e), VT-N103 ,VA-C508 ,WA-HB3040 & WY-HB AMCR.

VALIDOX has been created with the goal of minimizing compliance costs for all parties... including AMC’s, Lenders and Appraisers!

VALIDOX services are FREE for Lenders and Appraisal Management Companies

The Free services Validox provides can cost Lenders and AMC’s up to $200 per year per appraiser! Even smaller appraiser panels can cost the Lender or AMC $50,000 a year to maintain annual compliance requirements. At ZERO cost to Lenders and AMC’s, Validox compliance services are unmatched in the mortgage industry.

AMC’s & Lenders can save up to $100,000 or more per year by utilizing Free Validox services!

Individual Appraisers can save up to $5,000 per year by eliminating redundant panel maintenance and annual review costs!

Validox also features the LOWEST cost to appraisers for all appraisers’ ongoing compliance and annual USPAP review costs. Instead of appraisers paying panel fees and compliance costs for each Lender and AMC, the Validox certification is universally compliant for all Lenders and AMC’s!

The time is now to take control of your appraiser panel regulatory compliance and ongoing maintenance.
Validox is the industry’s FREE answer...Sign-up today!

Save significant time and money with an ongoing Validox Certification that is compliant for all your AMC & Lender Clients!

We promote your credentials and USPAP compliance to an ever expanding roster of Lenders and AMCs to get you more business!

Validox is the industry’s FREE answer...Sign-up today!