Due to increasing market interest in alternative and enhanced property valuation solutions, Valligent, a Veros Software company, has introduced ValPROTECT Warranty, a solution that offers recovery of permitted losses in the event a Valligent property valuation is subsequently determined to have been inaccurate.
ValPROTECT Warranty aims to provide lenders and investors with peace of mind knowing the valuation determination at time of origination is protected, Valligent says in a release.
Adding the ValPROTECT Warranty to a Valligent property valuation can help mitigate losses for lenders and investors under varying situations, such as defaulted loans or when a loan is otherwise determined to be uncollectible due to a flawed valuation. The ValPROTECT Warranty is maintained for five years from the initial valuation run date, even when the loan is transferred or sold.
The ValPROTECT Warranty can apply to purchase and refinance mortgages, home equity loans, non-QM loans, and more.
“Everyone is keen on protecting themselves from losses in the current market. ValPROTECT Warranty can reduce the lender’s financial exposure in a unique way and gives their loans potential for greater value in the secondary markets,” says George Paquette, chief operating officer of Valligent. “We are confident in our valuations and believe that the ValPROTECT Warranty will provide an additional layer of protection that can provide peace of mind to lenders and investors.”