VeroSCORE provides the most robust and comprehensive set of automated appraisal rules in the market today and is designed to enhance the capacity of review by a skilled appraiser or underwriter.
Scores can be used to make automated initial accept or reject decisions as well as more advanced and appropriate routing decisions – which can ensure loans enter the most appropriate funding stream, reducing the risk of buy-backs. Application of Veros’ appraisal scoring technology will result in immediate cost savings over traditional review procedures.
Thorough review and analysis of an appraisal report with Veros Risk Rules provides the clearest picture of whether or not a particular appraisal is reliable for the lending decision at hand. As a market leader in the field of property analytics and predictive technologies, Veros is uniquely able to apply advanced analytic tools to the analysis of each property for a more detailed and comprehensive assessment of property and market risk than any of its competitors.
Historically, the measures of total loan risk have always been found in the three Cs: Credit, Capacity and Collateral. The development of automated credit scoring solutions sharply improved the assessment of borrower risk. At the same time, these solutions enhanced the speed and accuracy of the process behind measuring a borrower’s inclination and ability to repay a loan. While these solutions satisfied the first two Cs in the risk equation, the third C, collateral, remained unanswered – until VeroSCORE.
VeroSCORE brings significant efficiency to measuring valuation reports and providing support behind the collateral decision. Not only will VeroSCORE provide notable enhancements to the risk measurement in the appraisal, VeroSCORE also gives an unprecedented and immediate snapshot into the collateral property that is independent of the valuation.