SALISBURY, Md., Feb. 17, 2014 /PRNewswire/ — Clearbox LLC, a regulatory compliance tool used by lenders and Appraisal Management Companies, has received academic approval. Roger Staiger III, Adjunct Professor at Georgetown University, has certified the appraisal fee survey protocols and will analyze the survey results for Clearbox LLC to meet the requirements per the Dodd Frank Act.
He notes, “Clearbox has done the heavy lifting for those seeking to comply with the Customary & Reasonable component of the Dodd Frank Act. Access to better information to make informed decisions is what has been missing.” The Dodd Frank Act calls for an independent fee survey, an academic study, and a government fee schedule.
“The single most important topic affecting real estate appraisers today is fulfillment of the Customary & Reasonable fee provision of Dodd Frank,” says Joan Trice, CEO of Clearbox LLC. “The Clearbox team is very excited to gain this independent review of our fee survey.”
Clearbox’s fee survey product leads the industry by aggregating appraisal fee data by type and territory and displays it by mean, median, mode, appraiser population per county and ratio of appraisers to general county population. According to Trice, there are a number of regulations and guidance that mandate the selection of the “best appraiser” and not the fastest and cheapest. “We are excited to be the first to market with a comprehensive national appraisal fee survey certified by a member of a leading academic institution, such as Georgetown University.”
Real estate appraisers can continue to provide their valuable input by signing up for a free Clearbox profile at www.clearbox.com and entering their appraisal fees. For information on survey results contact Joan Trice via email at firstname.lastname@example.org or call (513) 659-1656.
Clearbox LLC was founded in 2011 to assist lenders and Appraisal Management Companies with regulatory compliance and Fee Panel Management. Clearbox maintains an appraiser credentialing database and aggregates background checks and state disciplinary actions.
Founder and CEO of the Allterra Group LLC and Clearbox LLC
Adjunct Professor and Master of Professional Studies in Real Estate at Georgetown University and Managing Director with State Capital LLC