As 2020 has tested the limits of your staff and technology, we’ve been honored to continue earning your trust by providing solutions that helped your team seize the opportunities created by this year’s unheard-of conditions.
We know how busy you’ve been, so you probably haven’t had time to read each of the release notes regarding the latest updates to your QVP tools. With that in mind, we want to provide a few highlights of the new features and improvements introduced throughout this year.
RealView
In our latest release, we updated RealView’s scoring rules based on an analysis by subject matter experts – including certified appraisers – to ensure the severity levels accurately represent the current collateral valuation risk environment as well as potential areas within the report that merit review.
You can read more here about this improvement.Our resident experts audited the rules within RealView’s UCDP/EAD section to ensure they’re effective in helping your underwriting team eliminate potential portal hard stops or warnings before reports are submitted. They tested more than 160 real-world scenarios to ensure RealView’s rules provide coverage of the portals’ responses. In every case, RealView provided a notification in the EAD/UCDP section of the report.
We introduced new options for customizing RealView's full PDF so those who use the PDF rather than interactive report can streamline their review process by hiding information that is not relevant to their appraisal-review workflow.
Learn more about these changes here and here.A new treatment for appraiser-facing rules was introduced so now you can determine whether you want to reject the report automatically when key issues are found or continue allowing appraisers to override the rule findings and explain their decision to keep the report as-is.
See more details about this option here.
OptiVal
As planned, we completed updates to OptiVal every 90 days – once per quarter – to make sure the cascade reliably delivers the best-performing AVM and confidence scores possible.
We increased the number of counties covered by 10%. OptiVal now provides coverage for counties where 92% of the US population resides.
The data we use to test AVMs for performance was increased by approximately 60,000 properties. This increase results in more-reliable performance and better confidence scores for the AVM returned to you by the cascade.
We incorporated six new AVMs into OptiVal’s testing program. By increasing the AVMs included in the testing you are assured that OptiVal reflects the most complete assessment of AVM performance.
Two new AVMs were added to the cascade so those models can be delivered when their performance is shown by our tests to be optimal for the subject’s area. This increases the hit rate for more locations throughout the coverage area.
RealCondition Report
We expanded the footprint where RealCondition Report is available and deepened the coverage within that area. This has led to improved turn times and SLAs across the board for RealCondition Report.
With this year’s enhancements, the RealCondition Report is now available across several platforms and APIs within the industry. Additionally, infrastructure changes have allowed for future enhancements of the product to be performed as the industry evolves. This lays a solid foundation for RealCondition Report to continue to bring you an economical and comprehensive analysis of the condition of your properties.
Security and Performance
Early in 2021, we performed upgrades at our datacenter which have contributed to gains in the reliability and efficiency of all the tools you rely on for your daily valuation workflow.
To maintain the highest possible security for data within the platform, we introduced new security scans in our development process, added dynamic security scans on all public-facing pages, and eliminated potential vulnerabilities as identified by third-party and internal security audits.
For even better reliability and efficiency, we increased the “health checks” used across our sites to help proactively identify and correct issues that could adversely affect the performance of your tools.
As we near the end of 2020, we look forward with optimism and excitement about the initiatives we have planned to accelerate your teams’ efficiency and productivity to stay competitive through whatever circumstances 2021 brings. In the meantime, we wish you a happy and prosperous New Year!