At least one company is seeing the financial benefits of the upcoming implementation of the HVCC on May 1, 2009. SharperLending, LLC offers Appraisal Firewall, which is a secure, online technology tool that allows lenders and appraisers to maintain their current relationships while also maintaining compliance with HVCC.
Dave Black, President and CEO of SharperLending, LLC in the article said: “With Appraisal Firewall, local and regional banks, credit unions and appraisers can bring their established relationships to the platform to maintain compliance. With HVCC compliance and the related buyback obligations for non-compliance, many lenders want more control over their appraisal process to make doubly sure they are compliant with the objectives of HVCC. And especially in this economy, supporting your local business is hugely important. Appraisal Firewall accomplishes both.”
SharperLending also maintains a relationship with DartAppraisal.com an AMC that boasts of nationwide coverage and helps lenders with “out of area needs”. The article notes “DartAppraisal.com is one of the preferred providers of HVCC-compliant appraisal services on SharperLending’s settlement services technology platform.”