The Committees
The Committees’ mission is to examine all aspects of the collateral risk, within their respective areas of responsibility, and to identify solutions that provide guiding principles that sustain the a healthy housing finance system and its benefactors through alignment and transparency.
The Collateral Risk Network (CRN) announced the formation of a Stakeholder Advisory Group (SAG) to augment its membership to explore key concerns facing the real estate valuation industry. “There are quite a few gaps in the current operational workflow that impact the valuation process. The lack of a unique real property identifier is another” according to Joan Trice, the founder and President of the CRN. “These gaps have a dramatic impact on service levels. Additionally, insufficient information has historically been gathered at time of loan application, regarding the subject property. Appraisers need to research most orders before they can bid on them” Trice continues. The SAG will be leveraged by the CRN committees in the coming months to address specific initiatives.
Interested parties are encouraged to visit: https://www.surveymonkey.com/r/CRNAdvGroupApp to sign-up to be included in the communications and meetings. There is no cost associated with SAG participation.
Government Affairs
Chair
Ernie Durbin, Voxtur Valuation
Vice-Chair
Cindi Harris, Class Valuation
Monitor a broad range of Federal and State issues that affect the valuation community. This committee is responsible for writing comment letters as new laws and guidance are exposed for public comment or emerging issues need attention.
Standards
Chair
Liz Green, LoanLogics
Vice-Chair
Katherine Owen, Umpqua Bank
Develop or adopt standards for the following – a unique geospatial ID for all real estate; appraisal forms/reporting formats, unique ID for appraisers (digital certificate), AVM standards, home measurement standards, value definitions, education standards for RMBS, and Green Standards.
