Solidifi Insight™ is an automated appraisal Review and collateral risk management Service which enables lenders to quickly And efficiently identify potential collateral And market risk.
Solidifi Insight™ uses a combination of intelligent data mapping, data scrubbing, and data clarification techniques to read the appraisal report and extract data elements. Solidifi Insight™ applies lender-approved collateral guidelines and risk policy against the appraisal report data and creates an evaluation report that highlights the risks inherent in the secured loan transaction, including subject property risks and apparent adverse influences at the neighbourhood, site and/or property level. As these risks are identified by local certified appraisers this ensures that the lender has the most comprehensive information available to them in order to make the RIGHT underwriting decision on the underlying collateral of the loan.
Another significant benefit from the use of Solidifi Insight™ and Solidifi’s data extraction technology is the risk repository for data available to the lender on their own portfolio. From streamlined reporting to detailed extractions, this data allows lenders to gain a comprehensive view of the underlying collateral in their entire portfolio, and identify trends areas of potential risk.
Solidifi Insight™ Report Key Benefits
- Reduces the effort of manual appraisal review, increasing originator and underwriter efficiency.
- Automated review allows for quicker approvals, reducing approval turnaround time.
- Ensure quality and consistency of appraisal review through objective rule-based review.
- Reduces fraud, foreclosure loss, and provides assurance to auditors, investors and other relevant third parties.