Fidelity Offers National Disaster Tracking Service
Fidelity National Financial's LSI Market Intelligence Division is now offering lenders a national network of real estate agents who can report on the condition of specific properties following a natural disaster.
Compiled using the company's national network of nearly 30,000 real estate professionals, the inspection report provides lenders with detailed information about the condition of the property.
For lenders with transactions pending mortgage funding in an area affected by a natural disaster, the report helps them assess the exterior condition of the property, including the roof, siding, structural stability, garage, doors and windows. The report provides mortgage lenders and servicers with percentage ranges that indicate the degree of that damage and a photograph to support those findings.
The Natural Disaster Condition Report was created as a result of client requests to have a tool that would enable them to make informed decisions prior to distributing mortgage funding for potentially damaged properties.
Previously, this report was only available to the clients involved in the initial requests for the solution. The success of the report's small-scale introduction has prompted the company to launch it nationwide, according to LSI.
"As our goal is to remain committed to customer-driven product development, we listen intently when our clients bring a need to our attention and strive to provide the best possible solution," said Paul Goddu, senior vice president of business development for LSI Market Intelligence. "Frequently those solutions have industry-wide application resulting in a nationwide launch, as has been the case with the Natural Disaster Condition Report."
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