VeroINSIGHT is a comprehensive property condition report that directly addresses regulatory guidance surrounding collateral evaluations. It is designed to help lenders, insurers, and other stakeholders make specific valuation decisions by providing verification of property condition through external and/or internal inspections, input on neighborhood marketability and current photographs of the subject property.
VeroINSIGHT has adopted the Uniform Appraisal Dataset (UAD) rating system and definitions surrounding property condition and quality to produce a clear description of the property at a specific point in time. The report is completed by a field service inspector and fills a gap between over-purchasing property evaluation services, when full appraisals or broker price opinions may not be necessary, and not having enough data for regulators in the event of an audit.
- Utilizes the ratings and definitions for condition and quality as established under UAD. These ratings are uniformly accepted by Freddie Mac, Fannie Mae, Ginnie Mae, as well as the Department of Housing and Urban Development (HUD).
- Does not require integration, which means clients can be up and running almost instantly.
- VeroINSIGHT has the potential to be paired with an AVM for enhanced valuation decision-making.
Uniformly capturing a property's current condition, as well as its overall marketability, VeroINSIGHT goes above and beyond current products already on the market by including valuable data fields not available in any other property condition report.