Sponsored Content: Intelligent Valuation Portal — Your Rules, Your Evolution
Learn how the Connexions Intelligent Valuation Portal can help you excel in times of change.
While regulations, state law, and the definition of “essential business” change at a seemingly daily rate, the housing industry is caught in an unpredictable moment of waiting. In response, Connexions – a bank-grade, SaaS financial valuation company – has introduced a solution to help lenders operate effectively and responsibly.
The system is the Intelligent Valuation Portal (IVP), and it streamlines the real estate valuation process, ensuring the safety of all parties involved while saving impressive amounts of time and money for both the lender and the client.
What is the Connexions IVP?
The IVP is an integrated platform that will systematically direct appraisal requests to the most appropriate, optimized service type based on GSE requirements and the lender’s custom rules. The IVP analyzes customer, loan, and property information to make the best decisions without cutting corners, creating consistency in the process even in times of change. Lenders will reduce costs and optimize the distribution of their resources for real estate appraisals. Some of the core benefits of using the IVP:
- Faster turnaround time means a significantly improved client experience and greater ROI.
- Control costs by avoiding unnecessary full-service appraisals.
- Ensure the safety of all parties involved where new restrictions and risks may be in place.
- Manage rules with real-time changes to adapt to a changing industry and environments.
- House lender rules to ensure the right valuations are requested every time.
- Fully customizable rules and parameters keep you in control.
- Detailed reporting and property information.
Use your resources more effectively, efficiently, and responsibly.
One leading lender measured the cost-saving benefits of the IVP across 50,000 appraisals:
- Before IVP integration:
- 100% full-service appraisals at $450 per valuation.
- Cost before IVP: $22,500,000.
- After IVP integration:
- 40% full-service appraisal at $450 per valuation.
- 20% drive-by appraisal at $300 per valuation.
- 20% desktop appraisal at $135 per valuation.
- 20% AVM appraisal at $20 per valuation.
- Cost after IVP: $13,550,000.
- Savings of $8,950,000 – achieving all necessary criteria for the mortgage transaction.
Simply put, businesses are using valuation models that are not optimized for their circumstances or use. New restrictive measures and a lack of transparency into the process have only highlighted pre-existing flaws. An IVP solves these problems by eliminating unnecessary full-service orders, taking all rules and solutions into consideration while keeping the process transparent. Fully detailed, daily reports are sent to lenders to provide insight into the decision-making process and to support the valuation. The reports provide a thorough view of ongoing business and keep lenders in control of every decision made.
When full-service appraisals are still required, Connexions provides the CNX360 Virtual Inspection Tool within the portal to keep the valuation virtual whenever possible. Businesses have the option to send a virtual inspection link to homeowners, who can then complete a 15-minute virtual tour of their home, answering questions and uploading necessary photos of each room. Utilizing CNX360 allows businesses to reduce the number of in-person operations even within fluctuating regulations, saving time and ensuring the safety of those involved.
Make smart decisions when they mean the most.
We are now balancing safety, responsibility, new laws and business needs more than ever before. After over 20 years in the real estate industry, the team behind Connexions understands that with the exceptional levels of change currently taking place, there is an opportunity for lenders to adapt quickly and even excel.
Connexions is an appraisal management platform created by President and CEO Tom McCormick that strives to deliver best-in-class automation, reporting, data analytics, and integration to real estate valuations. Connexions has made it their mission to improve the valuation process by providing best-in-class technology solutions, allowing lenders to deliver the highest-quality real estate appraisals to customers and achieve their operational goals. They are now issuing the full release of their IVP to help lenders everywhere make smarter decisions quicker – and increase the safety of everyone involved.
“We wanted to allow stakeholders to resume their operations as quickly and responsibly as possible. We want to do our part to help our industry,” said McCormick. “Our Intelligent Valuation Portal makes an incredible difference in reducing orders for in-person valuations and it features fully customizable rule sets. We are reducing risks where possible while also improving the efficiency of day-to-day business.”
Implementing an IVP provides stability needed to excel in turbulent times. By allowing real-time rule changes, the platform efficiently evolves with your business and the world around it. It is a system tailor-made to the current world we live in, and early adopters will reap the rewards ahead of their competitors.
(Sponsored content includes material submitted independently of the Mortgage Bankers Association.)
