VeroSCORE Updated to Measure Appraisal Complexity, Other Factors

""Veros"":http://www.veros.com/veros-homepage.aspx, a provider of collateral valuation technology, enterprise risk management, and predictive analytics, announced an update to its VeroSCORE appraisal risk scoring tool.

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According to a release from the Santa Ana-based company, the update focuses on ""the complexity of the appraisal management assignment,"" adding several new scoring factors within the tool's credibility score component to help lenders better assess appraisal risk.

The new enhancements also include a complexity component designed to measure the expected difficulty of an appraisal assignment by analyzing a number of factors within the appraisal report along with external data and analytics.

""Automating appraisal review in a safe and judicious manner requires the ability to understand the overall complexity of an appraisal assignment,"" said David Rasmussen, SVP of operations for Veros. ""The new capabilities of VeroSCORE are helping lenders get a better handle on the appraisal in the most efficient manner possible.""

In addition to including an appraisal risk score, VeroSCORE also includes an overall risk score that takes outside factors into account--including the report's new data integrity score component, which examines key factors pertaining to the subject property and to the comparables selected by the appraiser and verifies them against external data sources.

""In today's climate, it is surprisingly easy to be misled by data, and that can lead to issues in valuation reliability,"" Rasmussen said. ""When we live in such a data-heavy environment and the tools exist to cross-reference for assurances of data integrity, it is to the advantage of both appraiser and lender to use them.""