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Verisite Property Inspection Tool Now Includes AVM Values, Local Market and Sales Activity, Risk Mitigation, and More

We have expanded the Verisite Photo Report to go farther than a current snapshot of property data. Now, there are two Verisite products in the product line: the Verisite Collateral Data report in addition to the Verisite Photo Report.  To make Verisite even better, the two can be combined to offer the Verisite Plus report, which includes Verisite Photo Report and Verisite Collateral Data. Combining the two Verisite products into the Verisite Plus offers instant, current property information with the Verisite Photo report, plus historical property data with an AVM value in the Verisite Collateral Data report. Find detail on Verisite Collateral Data report and the Verisite Plus report below.

If you haven’t started using Verisite, now is the time. Verisite is perfect for loans and sub-loan products that don’t require full appraisals. 

• The Verisite Collateral Data report provides a wealth of information condensed into a single report to efficiently direct and streamline workflow. Collateral Data begins by taking large amounts of property detail and summarizing it into scores so that lenders can get to know the property at a fundamental level at a glance. It also presents lenders with an AVM value. With valuable and easy-to-apply scores and property values, potential risk can be quantified up front and lenders can dive into the details for each score so that any follow up measures can be directed to the specific individuals, teams or departments equipped to handle needed investigation and/or due diligence.
  
  Organizations can selectively target the steps required to confirm findings; thereby increasing operational efficiencies, lowering costs and moving more quickly toward more profitable business decisions.

1. Subject Risk Score
2. Market Risk Score
3. Collateral Integrity Score
4. AVM Value
5. Subject Price Change
6. Market Price Change
7. Subject Foreclosures

8. Market Foreclosure Rate
9. Forecast
10. Subject Risk Summary
11. Market Risk Summary
12. Subject Property Detail
13. Area Sales
14. Nearby Properties
15. Market Analysis

• Click Here for a sample of the Verisite Plus report that includes both the Verisite Photo Report and the Verisite Collateral Data report.
• Click Here to view the Verisite Plus datasheet.
• Visit the Verisite web page for details.

Also in this release…

• New FEMA Data Available to Lenders
  We’ve added a tool that allows lenders to enable FEMA warnings on orders that may be in a declared disaster area.  These alerts can draw attention to orders that may need to be re-inspected prior to closing.  You or your lenders can enable FEMA warnings on individual orders, automatically have all your orders added to the watchlist, or provide a series of addresses that you would like to have monitored.
  
  To use the FEMA Watchlist, you and your clients don’t even need to order a full appraisal!
  
  How to use this feature:
  You can enable the FEMA watchlist and set pricing for all your clients by accessing your manager account settings in the upper left of your screen.  Scroll to the Appraisal Order Add-Ons section, select the new ‘Enable FEMA Watchlist’ option, and set a price.  The pricing entered here can be overridden on a per division basis.  Next, open a lender and division you’d like the feature enabled for and click Edit Settings.  In the Billing/Services section, select the new FEMA Watchlist feature, confirm the price, then click Save.  On all orders moving forward under this division, the FEMA Watchlist will be enabled and the designated fee incurred on every order.  Whenever FEMA flags an existing order as being in a disaster area, the order will appear under a lender’s new FEMA tab on their main orders dashboard. 

• Appraisers Enabled to Upload to Canceled Orders
  When an appraisal order is canceled, there is frequently cause for an appraiser to set a cancelation fee due to the work they may have already performed on a property.  While appraisers have always been able to set a cancellation fee for costs incurred, they will now be able to upload property photos and files to the canceled order to offer proof of work completed.
  
  How to use this feature:
  You and your appraisers can upload files to canceled orders in two ways.  First, open a canceled order and select Deliver Report.  Click the Attachments button and select any files that should be sent to the lender.  Alternately, click the Cancellation Fee option, enter an amount, select a New Attachment, and then click Send.

• New Manager Filter Lets You Quickly Identify Active Appraisers
  We have added a new feature to help you quickly determine your active vs inactive appraisers. The new ‘Active’ appraiser list will display appraisers that are currently connected to active lenders under your account. The ‘All’ indicator will display all appraisers that are signed up under your account, regardless of whether or not they are connected to a lender.
  
  How to use this feature:
  To view the new ‘Active’ appraiser list, login to your manager account, select Relationships along the left, then navigate to the Appraisers tab.  Currently the Appraisers tab shows any appraisers under your account that have signed up under your private label, or who have active connections to your lenders. With this release, the default view will change to only display ‘Active’ appraisers – appraisers who have an active connection to a lender.  To view a list of all your appraisers, simply switch to the ‘All’ radio button.

• New Email Notification Alerts You to Division Additions
  We understand that as your lenders’ businesses grow, it can be a challenge to manage all the different branches that may have different settings. Because of this, we will be sending an alert to your customer service email any time a new division is added under any of your lenders. Now you can avoid an improperly set up division by quickly reviewing the email alert and assessing if the division needs any custom setup.
  
  How to use this feature:
  The system will automatically notify you via email whenever one of your manager users or lender users creates a new division under a lender.  This will alert you in case you have lenders with specific settings that you like to monitor and adjust where appropriate.

• Improved Reporting for Easier Appraiser Management
  We are enhancing the ‘Closed Orders’ management report for you and your lenders so you have quick access to view the appraiser who completed the appraisal report, regardless of whether or not the appraiser is part of a group.
  
  How to use this feature:
  The Appraiser Contact column of the Closed Orders report has been enhanced to reflect the appraiser member who performed the appraisal, whenever applicable.  Whether the appraisal was performed by an appraisal group or not, the column will accurately reflect the name of the appraiser who completed the report.

• Enhanced Calendar Shows Bank Holidays
  We’ve enhanced the calendar on the New Order screen for users to help identify bank holidays. This way lenders can quickly identify if the requested due date is an appropriate selection or if an alternate timeframe should be selected to compensate for a holiday.
  
  How to use this feature:
  Now whenever you or your lender clients select a due date on the New Order screen, bank holidays will appear in red to help identify appropriate due dates and better assess appropriate turn times.