VeroSCORE Appraisal Risk Scoring Tool

Gain 20/20 Insight with VeroSCORE Automated Appraisal Review

Comprehensive Appraisal Risk Analysis and Quality Review

Designed to help mortgage lenders, servicers, investors and appraisal management companies (AMCs) make faster, more informed decisions regarding collateral value, Veros Real Estate Solutions’ VeroSCORE is an automated appraisal-scoring tool that provides intelligent and virtually instantaneous analysis of appraisal reports and their associated risk.

In the latest release, VeroSCORE was enhanced with additional validations, including public record data, appraiser licensing data, Appraisal Subcommittee data, and data from HUD.gov. It also features a redesigned report display that organizes this wealth of information and presents it in a user-friendly format.

Other features that have been added to further identify risk include property street views, dynamic mapping, comparable sales, and AVM values for neighboring properties. All can be viewed online with zoom-in capability, mapping and pinpointing.

To talk with a Veros data-analytics expert about integrating VeroSCORE into your business, call 866.458.3767 or email us at communications@veros.com.


VEROS’ VEROSCORE 

Automated appraisal scoring tool represents a new standard in appraisal review and collateral risk assessment.


BENEFITS OF APPRAISAL RISK ANALYSIS

  • Instantly identifies “red flags” in appraisal reports
  • Identifies and mitigates repurchase risk
  • Improves productivity by reducing review time for QC reviewers and underwriters
  • Reduces operational expenses
  • Identifies high-risk appraisals so you can focus your operational resources appropriately and efficiently
VeroSCORE

Built by an Industry Leader, for Industry Leaders 

An award-winning appraisal scoring technology, VeroSCORE leverages proprietary risk assessment algorithms and a multi-faceted rules engine to enhance efficiency, providing a comprehensive, cost-effective and fully compliant appraisal risk management solution.

VeroSCORE delivers concise, easy-to-apply corrective actions, replacing the complex, time-consuming manual appraisal review with immediate automated analysis and scoring. This significantly simplifies the review process and enables users to identify high-risk appraisals before they result in rejections or repurchase requests.

By incorporating sophisticated analytics with multiple, trusted external data sources and secure automated technology, VeroSCORE creates a multi-dimensional set of scores and sub-scores, providing granular detail into each appraisal and storing it in a centralized data repository.

Compliant, Accurate and Easy to Use

When the government-sponsored enterprises (GSEs) began requiring a quality-assurance strategy for prefunding appraisals, many lenders and vendors turned to VeroSCORE to thoroughly inspect their appraisal reports and ensure “zero-defects” prior to submission.

VeroSCORE includes built-in comparable and area sales indicators, interactive maps, and subject property data verification to ensure the information provided in the appraisal report is accurate, up-to-date and consistent with public record and MLS data. The multi-faceted rules engine also assesses market conditions. VeroSCORE’s stringent, cascading quality control process helps ensure the appraisal is accurate, the data is consistent, and the report is compliant.

With VeroSCORE, lenders, reviewers and underwriters benefit from:

  • The ability to scan and extract from all major residential appraisal forms
  • An extensive “Key Findings” section with alerts of potential issues, including incomplete data, inconsistencies, and other crucial information impacting the lending decision process
  • Clear insights into trends and comparable sales data gathered from public records
  • Instant and accurate results

Appraisals are checked against thousands of data and business rules required by the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines, Uniform Appraisal Dataset (UAD), the GSEs’ Uniform Collateral Data Portal (UCDP®) and FHA's Electronic Appraisal Delivery portal (EAD)..

This translates to faster, well-informed lending decisions, enabling lenders to preview and resolve any potential issues prior to submission to Fannie Mae and Freddie Mac through UCDP and the FHA through the EAD portal.

Real-Time XML Appraisal Data Review and Analysis

Veros' automated XML data verification system allows VeroSCORE to analyze appraisal files in real time. The XML data is extracted immediately after an appraisal report is uploaded. Thousands of complex proprietary rules are then run to scan for errors and omissions.

The interactive, on-screen appraisal risk analysis report is available to QC reviewers in real time, complete with an easy-to-read “scorecard report" covering each section. It logs each associated issue and checks off verified data points, highlighting all inaccuracies, missing data, failures or concerns for the QC reviewer. They are included in a work-style report of potential issues and violations under “Key Findings.” 

Fast, Easy and Flexible Options

Web Interface:  The VeroSCORE appraisal review tool offers an intuitive, web-based interface for users to quickly upload the appraisal and instantly view the completed, interactive VeroSCORE report on-screen.

API Integration:  VeroSCORE is also available via direct API integration through Veros' PATHWAY™ appraisal delivery portal for lenders requiring a fast, easy and high-volume method to perform automated reviews of their appraisal files in one system-to-system call. It is also available through Veros' Sapphire™ appraisal management system.

Speed up your appraisal process now and gain clarity and confidence with VeroSCORE. 

Contact us to learn more about VeroSCORE


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