1. VEROS REAL ESTATE SOLUTIONS
MODERNIZATION OF THE VALUATION PROCESS
VEROS REAL ESTATE SOLUTIONS

2. Veros Honored with 2018 HousingWire’s HW TECH100 AWARD - 5 YEARS IN A ROW!
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3. VEROS…
…has been a proven industry leader in enterprise risk management and collateral valuation services since 2001.
…provides solutions to control risk and increase profits including AVMs, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms and portal delivery services.
…has been a player in the valuation platform space since 2006 providing custom and SaaS-based solutions for lenders & AMCs of all sizes.
…was selected to develop, build, integrate and maintain the Uniform Collateral Data Portal® (UCDP®) for Fannie Mae & Freddie Mac and the Electronic Appraisal Delivery (EAD) portal for FHA.
…is one of the leading companies driving the successful completion of a production-ready MISMO Property Valuation Response Specification.
Biggest company you’ve never heard of.
Intimately involved in changes to the forms/how data is collected and retrieved.
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4. It’s no longer if, but when
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5. Key Items Reminder: Appraisal led data standardization.
“Neither Redbox nor Netflix are even on the radar screen in terms of competition.”
- Jim Keyes, CEO Blockbuster in 2008
Reminder: Appraisal led data standardization.
Appraisers are here to stay.
Two main GSE driven changes.
Lender driven changes.
Consumers/Lenders demand a more expedient process.
No data source that is higher quality than your appraisals.
The Valuation process was a leader in being data-centric, now is the time for the next iteration required by our data driven world.
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6. A new world without a 1004
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7. “BLOWING-UP” THE FORMS
What does this mean?
Joint initiative
Why is this happening?
Who will be affected?
Appraisers, AMCs, Technology providers, etc.
Reached the limit of value with the current forms, can no longer allow the display to derive the data.
Example – energy efficiencies, new types of
Even if you don’t do lender work, these changes will seep into all types of appraisal assignments
Built out modular, doesn’t make sense to have different forms – just only require sections based on property/lender requirements.
A more datacentric approach will automate the review process, which translates to less revision requests and less calls from the UW.
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8. “BLOWING-UP” THE FORMS
Source: Fannie Mae
What is the timeline?
Get involved!
- Get involved, tell them what isn’t needed! Otherwise the old will carry over into the new.
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9. Re-building the valuation process
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10. APPRAISAL MODERNIZATION
Example: Credit Report Underwriting
Risk Based Approach
Waivers
Bifurcated Appraisals
Appraiser, Agents, etc.
Get Involved!
Change is happening, help steer it.
The drivers of tech need you.
Describe how, unlike credit reports, appraisal will not be fully automated.
Discuss the changes for rural areas – the waivers that GSEs are providing – change or the market will find a way.
Changes to the viability of the ACM model.
Nothing is off limits – data integrations?, videos in appraisals, drones…
Appraisal Waiver stats – FNMA confirmed that only 8% of loans with waiver option, actually leverage it – assert that borrowers want ot know their homes value.
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11. Connect with Veros Luke Ziegenmeyer Product Manager 714.415.6309