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Lenders Liable for Their Service Providers

Question: 
Our appraisal operations team uses a software platform and appraisal management companies to handle our appraisal pipeline. How do the CFPB and OCC view third-party service providers like this? What's our liability?
Answer: 

Recently, both agencies have made it clear that lenders are liable for their service providers.

First published on 06/02/2014

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