Actionable data is now available to commercial builders and commercial real estate owners
to identify losses more quickly after disaster strikes
Santa Ana, Calif., May 24, 2021—Veros Real Estate Solutions, an industry leader in enterprise risk management and collateral valuation services, announced today the addition of commercial properties to its Veros Disaster Data Solution product.
Veros is an industry innovator in providing disaster data and the resulting impact on residential and commercial property markets. When a natural disaster strikes, accurate insight into properties and property owners impacted within the mortgage/property portfolio is essential. With the Veros Disaster Data Solution, mortgage lenders and servicers, real estate businesses and commercial property stakeholders gain a precise understanding of the properties likely impacted in the core of the event and those properties in the buffer area immediately surrounding the core. This data is acquired through satellite imaging, drones, plus public and proprietary data sources and made available within a few days following the event. The addition of commercial properties is a result of the company’s relentless commitment to delivering data-driven insight in the wake of natural disasters. Through the solution, clients are provided with a disaster summary report across all property types, residential, commercial or mixed-use. The report can be consolidated or split between residential or commercial properties, as needed.
“June 1 is the beginning of Hurricane Season in the United States and the need for data-driven insights is extremely important with NOAA predicting more than 13 named storms may form over the Atlantic Ocean this year,” said Sarah Acosta, Vice President of Product & Data Operations at Veros Real Estate Solutions. “To better serve our commercial real estate clients, we have incorporated the same level of granular data for commercial properties that we have always provided to residential real estate clients. When a natural disaster strikes, no one is spared and it is our goal to make timely data available to any property asset manager.”
Veros Disaster Data Solution provides the insight to:
- Pinpoint which borrowers to prioritize immediate outreach
- Prioritize properties for property condition inspection
- Protect real estate assets
- Gain an executive dashboard overview of portfolio exposure
- Know which residential and commercial properties are likely impacted post disaster
Disaster Data and additional valuation and risks insights are available through VeroSELECT, the Fitch-rated VeroVALUE AVM and portfolio services, including Match and Append. For more information visit the Veros Disaster Data Solution Center.
About Veros Real Estate Solutions
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. Veros’ services include automated valuation, 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 www.veros.com or call 866-458-3767.
NOAA released the 2021 Atlantic Hurricane Season Outlook
NOAA’s Forecasters predict a 60% chance of an above-normal Atlantic Hurricane season, a 30% chance of a near-normal season, and a 10% chance of a below-normal season. With VEROS, you can be 100% sure we will monitor every hurricane and natural disaster to provide the property level impact insight you need.
The 2020 Year In Review
Overview of Selected Natural Disasters: Veros Looks Back At Select Natural Disaster Events Jan. 1 – Dec. 31, 2020 and The Impact on People and Properties.