Veros and JVI Team Up to Launch Property Inspection Product

""Veros Real Estate Solutions"":http://www.veros.com and ""JVI Solutions LLC"":http://www.jvisolutions.com announced the launch of VeroINSIGHT this week. It's a comprehensive property condition report to address new regulatory guidance surrounding collateral evaluations.

[IMAGE] Veros, headquartered in Santa Ana, California, provides enterprise risk management and collateral valuation services to the industry. JVI, based out of Lake Mary, Florida, specializes in appraisal, inspection, and educational problem-solving with REO, analytic, and alternative valuation products.

According to the two companies, VeroINSIGHT goes beyond existing collateral evaluation products by uniformly capturing aspects of the property's current condition, as well as its general marketability.

VeroINSIGHT has adopted the Uniform Appraisal Dataset (UAD) rating system and definitions surrounding property condition and quality â€" a feature the two providers say is not available in any other report. The inclusion of these specific UAD codes will signal a clear description of the property at a specific point in time.

""The partnership between Veros and JVI creates an exclusive advantage through VeroINSIGHT for those who are concerned about their existing processes holding up in

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an audit against the Interagency Appraisal & Evaluation Guidelines,"" said William E. King, director of valuation initiatives for Veros.

""By benchmarking decisions on a ratings system established by government-sponsored enterprises, VeroINSIGHT clients have a deeper level of confidence knowing their vendors are speaking the same language as regulators and investors,"" King explained.

VeroINSIGHT is designed to help lenders, insurers, and other stakeholders make specific valuation decisions by providing verification of property condition through external and internal inspections, input on neighborhood marketability, and current photographs of the subject property.

The report is completed by a field service inspector and fills a gap between over-purchasing property evaluation service when full appraisals or broker price opinions (BPOs) may not be necessary and not having enough data for regulators in the event of an audit, according to Veros and JVI.

""Veros' widespread real estate experience coupled with JVI's established nationwide inspection product line will only strengthen the quality and accuracy of the service we provide together,"" said Ron Nation, CEO of JVI Solutions.

The partnering companies outlined what they describe as three distinct benefits of VeroINSIGHT. First, by utilizing the ratings and definitions for condition and quality as established under UAD, the solution adheres to the standards uniformly accepted by Freddie Mac, Fannie Mae, Ginnie Mae, and HUD.

In addition, VeroINSIGHT does not require integration, so clients can be up and running almost instantly. It also can be paired with an automated valuation model (AVM) to enhance valuation decision-making.