Veros Enhances Its Sapphire Valuation Management Platform
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Veros Enhances Its Sapphire Valuation Management Platform

October 27, 2014
Veros Real Estate Solutions has announced that its Sapphire valuation management platform is now available through Ellie Mae’s Encompass

Veros Real Estate Solutions has announced enhanced features to its property valuation management platform, Sapphire, that provides lenders with the ability to simplify and enrich their valuation review process, while enhancing their vendor management capabilities. Sapphire is a SaaS-based property valuation management platform that allows for quick adoption into the loan processing workflow, with flexibility that enables configuration to specific and unique operational needs. With modules including Order, Review, Reporting and Appraiser Panel Management (APM), Sapphire's latest enhancements correlate with Veros' objective of continual product strengthening.

Highlights include:

ENHANCED PAYMENT PROCESSING: Sapphire offers users increased flexibility in managing the payment requirements associated with the ordering of appraisals, broker price opinions or other valuation tools. Continuing to deliver a secure portal for sensitive financial data, Sapphire's enhanced payment processing capabilities provides versatility in how system and service fees are routed, as well as in the management of direct payments to appraisers or other valuation vendors.

ORDERING BY ZONE: In tune with the evolution of appraisal ordering for territories more specifically defined than ZIP codes and counties, Sapphire allows users to establish ordering rules for valuation providers based upon configurable 'zones.' From geographic areas down to specific neighborhoods, Sapphire enables users to select the optimum vendor (appraiser, AMC, broker or other) based upon expertise to a highly specialized location.

►UNIFIED SUPPORTING DATA: Eliminating the necessity of searching multiple external data sources to verify the contents of appraisal reports, Sapphire displays public records data related to the subject property and displays it when an appraisal is being reviewed within the system’s interface. Enhancing reviewer efficiency and standardizing data sources, Sapphire users can now instantly see relevant data culled from reliable sources. Additionally, Sapphire will filter the available data and display them on maps that can be toggled between street and satellite views. Through this functionality, reviewers can also adjust the parameters for comparable data and instantly review new properties in order to better validate the data contained within the valuation, determine next steps and reduce possible risk.

“Sapphire was designed to enable conscientious institutions to stay compliant with ever-evolving regulations and requirements in an intuitive and user-friendly interface for property valuation management,” said David Rasmussen, senior vice president of operations for Veros. “These enhancements are another step down that road as we continually augment our SaaS-based valuation tools.”