Veros Real Estate Solutions revealed a new enhancement to its Disaster Data Solution: Executive Portfolio Dashboard Reporting. This dashboard report provides a visual summary of the potential impact on a portfolio of properties following a natural disaster such as a wildfire, hurricane or earthquake.
When a region is declared a disaster area, the Disaster Data Solution allows lenders, servicers, appraisal management companies, and other mortgage transaction participants to determine if a U.S.-based residential property is likely to have been directly affected, the company announced in a press release.
This new dashboard visualizes tiered levels of exposure in a portfolio – from no-exposure to maximum-exposure – displaying potentially impacted areas in relation to properties in the portfolio.
This data is acquired through satellite imaging, drones and both public and proprietary data sources and typically is available within a few days post the event, with updates provided continuously as the disaster unfolds and data is collected.
“Recently, we have seen an increase in the frequency of wildfires and weather-related events,” Veros Real Estate Solutions CEO Darius Bozorgi said in the release. “Access to accurate, reliable and actionable data about the impacted properties and homeowners is mission-critical for our clients. Providing data at the property level is tremendously important for servicers to prioritize their response quickly and efficiently.”
The solution allows a servicer to:
- Pin point which borrowers to focus immediate outreach;
- Prioritize properties for property condition inspection;
- Protect servicers real estate assets;
- Gain an executive dashboard overview of portfolio exposure; and
- Maintain compliance with GSE disaster policy regulations.