Follow up on Member Alert Date 17 April 2019

Early last year API issued a Do Not Sign Advice for members regarding the CoreLogic ‘Valuer Data Processing and Security Terms’. Since then API has worked with CoreLogic and a range of senior industry stakeholders to refine and develop these terms to try and achieve a position that minimises, as far as possible, risk to our members and service provision to continue.
As part of our ongoing commitment to member advocacy, the API has spent the last 15 months in discussions with CoreLogic to achieve a commercially viable resolution to the Valuer Data Processing and Security Terms. These terms were first developed in response to an increased regulatory regime from lenders with regard to Information Security and Privacy, a goal which API supports.
The focus of our negotiations were around clauses pertaining to Information security, Data breach notification requirements, and enhanced compliance audit rights. Whilst individual negotiation over specific clauses and commercial arrangements will still fall to individual firms or businesses to conduct on their own behalf, the API felt it was necessary for us to support the development of a framework which was acceptable for our members to work within.
The API would like to acknowledge the time, and energy that all parties have put into this collaboration and appreciate the willingness of all parties to consider the needs of our members and look forward to building on the goodwill and positive steps taken in this process.
Related articles
Posted on July 1, 2020
Related Posts

APJ Partnership changes
As many members will be aware, API’s partnership with the Australian Property Journal (APJ) has been a valued and important part of our communication channels and a key member benefit. …

Global Valuation Conference 2023
On Friday, June 6, Amelia and Sheila presented at the 2023 Property Institute of New Zealand (PINZ), International Valuation Standards Council (IVSC), and World Association of Valuing Organisations (WAVO) Global…

API extends Partnership with Valocity
The Australian Property Institute recognise through their Property Profession Futures Consultation that the world of data and technology and the future is evolving quickly. The API is excited to be…

API signs MOU with PEXA
The API and Value Australia, part of the PEXA group, have signed a Memorandum of Understanding to work collaboratively towards a shared goal of fostering technology advancements, solutions and standards for…

Standards Alert: IVS Exposure Draft released
The International Valuation Standards Council (IVSC) has recently released the proposed changes to International Valuation Standards (IVS) for a three (3) month consultation period. The consultation period commenced on 28…

2023 AGM: Director Election Announcement
We are writing to provide an update on the election process the Board has decided to adopt for the 2023 Annual General Meeting (AGM). The Constitution requires that at…