According to the Santa Ana, Calif.-based company, the enhanced dashboard visualizes tiered levels of exposure in a portfolio–from no-exposure to maximum-exposure–while displaying potentially impacted areas in relation to properties in the portfolio. Versos stated that the product lenders, servicers, appraisal management companies, and other mortgage transaction participants to determine if residential properties are likely to have been directly affected. The data used for these reports is acquired through satellite imaging, drones and both public and proprietary data sources and is typically available within a few days post the event, Veros added.
“Recently, we have seen an increase in the frequency of wildfires and weather-related events,” said Darius Bozorgi, chief executive officer of Veros Real Estate Solutions. “Access to accurate, reliable and actionable data about the impacted properties and homeowners is mission-critical for our clients. Providing data at the property level is tremendously important for servicers to prioritize their response quickly and efficiently.”