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The Commonwealth Bank has renewed its contract with valuation panel manager Valuation Exchange (ValEx) for a further three years.
CBA general manager of mortgage wealth James Sheffield said outsourcing valuation to ValEx had seen the bank achieve “operational efficiencies and improved valuation quality”.
Mr Sheffield said ValEx offered the bank greatest transparency in the valuation process because of its ability to capture all valuations by panel valuers throughout Australia in the one management reporting system.
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