ValConnect Upload Portal is a new solution, launched by CoreLogic, designed to assist valuers effectively conduct remote valuations to ensure the flow of lending can continue in the COVID19 environment. Financial institutions, brokers, valuers, real estate agents and insurers continue to be challenged in the way they interact with home owners and tenants where face to face interactions are fraught with risk. Lenders often require valuers to undertake physical inspections, however the social distancing measures required continue to hamper the traditional way valuations have been conducted.
Through a simple step-by-step process, the ValConnect Upload Portal enables valuers to send a single link to residents of a property to upload property images. Whether the valuer is required to undertake an external inspection, kerbside inspection, or a desktop assessment, the ValConnect Upload Portal will provide real time internal images of the property, with accompanying time/date stamp and geo-coordinates as a basis for the conduct of the valuation.
This solution exemplifies CoreLogic’s purpose to help Australians and New Zealanders, find, acquire and protect their homes-whatever the circumstances. Tim Jenner, Executive for Product at Corelogic said “Over the past few weeks we have seen an acceleration and proliferation of crowd sourced, and distance based collaboration tools, developed to enable the flow of lending in an era of social distancing. Combining key technologies to allow property valuations remotely, the ValConnect Upload Portal is the solution that these times demand.”
Jenner went on to say “As the leading provider of valuation services in the Australian market and internationally, we appreciate our obligation to facilitate and deliver alternative solutions to full physical inspections at scale. We have been working closely with industry partners to ensure all lenders and valuers have access to the tools they require to offer remote assessments, aligned to the Australian Property Institute (API) guidelines that are broad based, scalable and compliant.”
“If these services are deployed with robust compliance services, solid data governance principles and technology standards, efficiency continues to be driven into the system whilst still meeting the high prudential and governing body standards.”
The solution meets strict global technology protocols including data controls to meet privacy obligations.
The ValConnect Upload Portal is the first of a suite of new tools being developed by CoreLogic to respond to the unique challenges of the COVID19 environment. Currently under development are tools that provide video streaming solutions for a variety of use cases across the real estate, financial services and insurance industries.
“We believe that our role at CoreLogic as a global, independent property data company is to deliver clarity in times of uncertainty to the segments we are privileged to serve. The COVID19 pandemic highlights the urgent need for creative industry-based solutions which provide stability and support for home owners in Australia and New Zealand and critically facilitate the continued flow of lending. I am proud to provide a practical solution to businesses with the launch of the ValConnect Upload Portal, the benefits and relevance of which, will endure beyond the current crisis ” said Lisa Claes, CEO, CoreLogic International.
We invite you to reach out to CoreLogic to ask any questions you may have about the ValConnect Upload Portal.