Veros Disaster Data: When natural disasters hit, can you identify the properties on your portfolios?
Because FEMA disaster area declarations use county boundaries to expedite the designation process, a high percentage of unaffected properties may be adversely impacted by the designation. This can result in loan-funding delays and also necessitate costly property inspections at the portfolio level in order to determine whether or not individual properties located within the designated disaster area have actually been affected.
Veros Real Estate Solutions' new Disaster Data offering reports disaster impact – including damage from hurricanes, earthquakes, wildfires, volcanos, tornadoes, floods, storm surges and tsunamis -- at the parcel level, quickly leveraging geospacial data to map a disaster polygon and surrounding buffer zone. It then locates the impacted properties within the polygon by lot boundary, zip code, and by physical address.
Veros Disaster Data …
- Identifies damaged and high-risk properties by confidence level
- Continually updates data as the disaster unfolds for near real-time accuracy
- Streamlines the property assessment process in designated Disaster Areas
- Accelerates clear-to-close time for unimpacted properties in the flagged disaster area counties
- Leverages geospacial, disaster polygon and property boundary data to determine risk rating and focus risk management efforts on high risk properties
- Bases risk-based decisions on the most current disaster status information
- Eliminates unnecessary property inspections
- Enhances borrower relations by proactively identifying at risk loans and rapidly initiating contact
- Provides substantial financial savings
Disaster Data is available on a “match and append” basis and includes a confidence indicator for additional peace of mind. It can also be delivered as a supplementary data set within our VeroVALUE AVM reports on a per-property basis.
Veros Disaster Data benefits all mortgage stakeholders, including lenders, servicers, consumers, investors, Appraisal Management Companies (AMCs), mortgage insurance companies and property and casualty insurance providers.
Contact us today at 1.866.458.3767 to learn how Veros Disaster Data can help you and your organization mitigate disaster related risk.
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