Industry Relations

The Industry Relations Committee is dedicated to maximizing communications with all stakeholders that produce and consume appraisals. The committee will act as CRN’s Ambassador and to identify potential new CRN participants and develop strategic areas of stakeholder engagement while increasing awareness of CRN’s collaborative efforts to improve valuation processes.

Chair: Ernest W. Durbin, II

Ernie Durbin is Chief Valuation Officer at Clarocity. As CVO, Durbin leverages the strengths of Clarocity’s technologies and develops new solutions for the valuation industry. Durbin has been instrumental to the invention of technology and methodologies that power Clarocity’s proprietary valuation products. Additionally, Durbin has leveraged his 35+ years of real estate valuation experience to expand Clarocity Valuation Services into portfolio review and due diligence.

Durbin and Associates Inc. specializes in identifying and solving complex residential valuation problems in the Greater Cincinnati Area. Complex valuation services include specialized appraisals such as: relocation, review, REO, and forensic assignments.

Personally emphasizing Relocation, Ernie is along time member of Worldwide ERC© holding their CRP designation since its inception in 1990. Ernie is also a member and serves on the board of directors of Relocation Appraisers and Consultants (RAC), a nationwide organization of independent professionals who have distinguished themselves as leaders of the Employee Relocation Industry.

Ernie Durbin also holds the SRA and AI-RRS designations from the Appraisal Institute. With the Institute he has served on several special projects as well as a residential experience screener. At the national level, Ernie is currently on the Apprasial Practices Board of The Appraisal Foundation. He also serves on the Industry Advisory Council (IAC) of the Appraisal Foundation. Ernie is on the Executive Council of the Collateral Risk Network (CRN), a network of “thought leaders” within the valuation profession.

Ernie Durbin is married to Velina, and they have four children ranging in age from 21 to 31.

Vice-Chair: Penny Reed
Wells Fargo

Penny Reed is Vice President Strategy and Financial Reform at Wells Fargo Home Mortgage and a Certified Mortgage Banker. A 32-year veteran of the mortgage industry, Reed has been with Wells Fargo for 26 years in various positions including underwriting, credit risk management, capital markets, strategic partner management and agency relations.  Her current role is focused on external outreach and the impacts of Financial Reform on industry partners.

In addition to mortgage experience, Reed is a veteran of the US Army and graduated summa cum laude from the University of Southern New Hampshire with a degree in Computer Information Systems.