Move expected to help lenders gain better insight into the possible impact of a disaster to lender property and portfolio
DataVerify, a leading provider of data verification, risk mitigation and workflow automation services, today announced an association with Veros Real Estate Solutions. As part of this relationship, an insightful tool for lenders called DisasterVision is now offered. DisasterVision provides lenders contextual insight with regard to potentially impacted properties in the lender’s portfolio that lie within a natural disaster area.
“This association speaks to who we are as a company,” said DataVerify President Brad Bogel. “We are continually looking for ways to offer lenders more protection and helpful data without reducing efficiency. We believe that working with Veros allows us to offer lenders another tool to help strengthen their portfolios without sacrificing workflow automation.”
With natural disasters being so unpredictable, devastating and more frequent, lenders need trusted sources that can give them reliable data to help them better understand disaster impacts so they can emerge strong post-impact. However, many lenders are unaware of the level of risk they face when a disaster occurs. It can be a costly and time-consuming struggle to gain accurate data regarding the impact on the property and the underlying value of that collateral post-impact.
Veros leverages, among other sources, satellite imagery, federal/state agency reports, and data from FEMA and NOAA to provide lenders with current information as data is continually updated throughout the disaster event. Veros also partners with reliable, experienced property condition/inspection providers, offers nationwide coverage and ensures eyes on a property following a disaster. The DisasterVision results are provided at the property level, offering more granularity and accuracy to lenders than the less precise county level data provided by FEMA.
“We are excited to work with DataVerify and their customers,” said Sarah Acosta, VP of Product & Data Operations. “DisasterVision is the key solution to gaining post-natural disaster property risk intelligence that helps to simplify and expedite the process for DataVerify customers, providing more convenience and consistency with fewer handoff delays. In situations with Hurricane Ian, for instance, it is important to know right away which properties are potentially impacted to get aid to those homeowners first.”
Through DisasterVision, lenders gain the ability to acquire property-specific data, portfolio analysis, and valuation. Veros can also work closely with lenders when a known natural disaster is about to occur, such as a hurricane that has yet to make landfall, and provide continuous and near real-time updates. DataVerify is proud to offer an innovative new way for lenders to remain informed and prepared in uncertain times.
For more information on how to gain access to this new product through DataVerify, reach out to your account manager or email info@dataverify.com.
About DataVerify
DataVerify is the premier provider of risk mitigation, data validation, and workflow automation solutions for the mortgage industry. DataVerify harnesses advanced analytics and technology to create automated and configurable workflow management solutions. Our highly responsive platform empowers lenders to make precise and consistent business decisions through an engine that identifies and measures hidden threats such as data integrity errors and misrepresentations, identity theft, and property and application risk. Engineered to offer optimal flexibility, the DataVerify platform (which incorporates 4506, SSA, and employment and income verification) allows lenders to manage risks according to their institution’s tolerance level.
About Veros
A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. In 2022, Veros acquired Valligent Technologies, a leader in appraisal, alternative valuation, QC and Regulatory Audit solutions. Veros’ services now include the full spectrum of valuation solutions inclusive of virtual and automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs. For more information, visit https://www.veros.com/ or call 866-458-3767.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221013005050/en/
