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Data security is top priority in 2014
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Complying with increasing regulations is a focal point for appraisal industry professionals as we head into 2014. More than ever, regulators are pressuring lender clients to ensure that their outsourced service providers, especially those providing critical services such as those related to real estate settlement services, are also complying with consumer protection and privacy related laws, rules and regulations.
At the same time, more dependence on technology has led to almost every step of the valuation process being automated or moved online, bringing with it an increased interconnectedness and attendant risk.
Because the world of regulation is merging with the world of technology, data security isn’t just an industry talking point anymore; it has become a legal obligation.
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