📄 You are able to request (and receive) a Valuation report for your application via the Digital Services Dashboard in Omni.
The service will receive both the PDF report, and also the json data with the results of the Valuation request. This means that you are able to:
review the PDF version of the Valuation report and/or
use the json data to write business rules against the outcome; and see the outcome of the rules in Omni Assessment Module
Where is the Valuation functionality available?
The Valuation Digital Widget can be enabled in the Digital Services Dashboard in Omni:
If you expand the Digital Services Dashboard, you will see all the available services. Property Valuation will be listed as a Service:
Getting the Valuation Widget ready to make the order
The Property Valuation will be ordered by extracting relevant Security Property data from Loanapp and sending to the Corelogic Valuation service.
If the Status of the Valuation Widget is Pending - this will be because there is no
Security Property details in the related Loanapp application. (You will need to go back into Loanapp and complete the Security Property section).
If the Status of the Valuation Widget is Ready - this will be because there is now
Security Property details in the related Loanapp application. If you expand the Widget, you will see the details of the Security Property listed in the widget:
Note: If you have more the one security property, then you will have multiple properties registered in the widget that you can order a val for.
When you click "Request", a new popup will appear which will be to select the "type of valuation" for your request. Loanapp will call Corelogic and pass your security property data across to the Lender rules:
And when ready, populate this dropdown with the correct valuation type. Note that you are not able to change this, as it has been determined by Lender's rules.
The types that you may have returned are:
Intellival AVM
Residential Short Form Valuation
Curbside Valuation
Desktop Valuation
You will see the 'type' that has been selected for this deal/property:
Once the Type has been populated, click Request - this will full order the valuation, and the widget status will change to "Waiting". Note that you are able to revoke (Cancel) as well:
An Intellival AVM will be completely almost instantly (2-3 minutes).
Other val types generally take a few days, and will depend on the valuer being able to complete the valuation.
What happens when the Valuation is completed?
When the Valuation is completed by Corelogic, the widget status will change to "Completed":
You are able to then use the details button to see the results of the service. You will generally get both the Valuation report, and the Invoice:
You can click the download button to view any of the documents.
📫 The Valuation (and Invoice) will automatically be sent to your Supporting Documents bucket for attaching to the Checklist