Solidifi Insight™ uses a combination of intelligent data mapping, data scrubbing, and data clarification techniques to read the appraisal report and extract data. Solidifi Insight™ applies lender-approved collateral guidelines and risk policy against the appraisal report data and creates an evaluation report that highlights potential risks. Key elements of Solidifi Insight™ tie together to create a complete picture of the risks inherent in the secured loan transaction, highlighting the appraiser's Solidifi iQ™ quality score, property and neighbourhood risks identified by the appraiser and comparing the appraiser's conclusions against independent market information for validation purposes
Collateral Risk:
The subject property and neighbourhood risks identified by the local market real estate expert appraiser.
Market Data:
Value validation utilizing AVMs comparing the conclusions and comparables selected by the appraiser, providing unbiased information to aid in the review and approval process.
Each automated appraisal report review produces a shield indicator to provide an at a glance summary of the review outcome. In addition, the shields can be used to drive workflow for next steps on the loan file relative to the appraisal.
Criticality default settings are assigned by Solidifi, which determines how much of an impact the failure of the rule will have on the outcome of the review. Configuration is available for lenders to address unique situations.
Solidifi iQ™ Quality Score:
Key quality and service ratings of the real estate appraiser completing the appraisal.
Solidifi Insight™ configurable business rules and weightings have been developed using appraisal best practices. (CUSPAP/ USPAP)
Solidifi Insight™ intelligent, electronic appraisal review and risk assessment is available on completed appraisals fulfilled either through Solidifi Values™ or appraisals completed through other third party channels.
A significant benefit from the use of Solidifi Insight™ and Solidifi's data extraction technology is the rich 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 portfolios, and identify trends areas of potential risk.
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