SALISBURY, Md., May 17, 2011 /PRNewswire/ -- Tonya Swanson, Commercial Appraisal Review Officer, Susquehanna Bank, announces today the engagement of Clearbox LLC to assist with the management of their appraiser fee panel. "We are a regional bank doing business in PA, MD, WV, DE, and NJ. Interagency Guidelines dictate that we perform proper due diligence and maintain tight controls on our panel. We like how simply Clearbox aggregates all of the credentialing data for us and monitors their behavior."
Joan Trice, CEO and Founder of Clearbox notes, "We are all about transparency. Appraisers and the financial institutions who engage them are under extreme scrutiny these days. We have created a central repository to collect credentials, education, experience, disciplinary actions, and background checks."
Clearbox LLC , headquartered in Salisbury, MD recently launched in the midst of the most sweeping changes to the appraisal profession in over 20 years. Both Interagency Guidelines and Dodd Frank are requiring lenders to update their policies around the appraisal process. Clearbox LLC has created risk management and compliance tools for financial institutions to comply with the new regulations.
About Susquehanna:
Susquehanna is a regional financial services holding company with assets of approximately $14 billion. It includes a commercial bank that provides financial services at more than 220 office locations in the Mid-Atlantic region.
About Clearbox
Clearbox®, LLC was founded to address the complex landscape of compliant processes and data management. Better information and transparent processes promote appraisal integrity. The Clearbox® suite of products offers solutions to all stakeholders - Appraisers, Lenders, Appraisal Management Companies and Regulators.
CONTACT: Mike DeMarco, +1-513-919-4700, [email protected]
SOURCE Clearbox LLC
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