PCV Murcor [1], a provider of real estate valuations for the mortgage industry's lenders, servicers, and insurers, has joined the Shared Assessments Program [2]. The member-drive industry body aims to create standardization, consistency, efficiency, and cost savings in the vendor risk management process.
PCV Murcor will help provide insight and expertise "to a collaborative industry effort aimed at creating sustainable solutions for the evolving regulatory environment," the company said in a release.
"We think everyone can agree that a more streamlined compliance and oversight system is better for the entire industry," said Russell Lewis, CIO of PCV Murcor. "We also believe everyone would agree that the ability to increase efficiencies and accuracy while reducing the resources required to meet or exceed regulatory obligations is, collectively, a good thing. This is a needed initiative and we’re committed to doing our part to help create solutions that will benefit the entire industry."
The Shared Assessments Program was created by leading financial institutions and accounting firms, and is comprised of risk management experts focused on implementing efficient and effective industry standard practices.
"We couldn't be happier to have PCV Murcor join the Shared Assessments Program, which demonstrates their commitment to help drive comprehensive third party risk assessment and management standards," said Catherine Allen, Chairman and CEO of the Santa Fe Group, the managing agent of the Shared Assessments Program.
"Having an established leader of real estate valuations as champions for the Program increases the breadth and depth of knowledge that keeps the Shared Assessments Program Tools on the leading edge of third party risk assurance," Allen said.