SharperLending launches photo report tool for collateral inspections

by Francis Monfort24 Oct 2018

Mortgage technology provider SharperLending has introduced Verisite Photo Report, a collateral inspections tool that provides lenders with property data on loans and sub-loan products that do not require full appraisals.

SharperLending said lenders can use Verisite Photo Report to meet processing and underwriting needs and that it is ideal for equity lending condition reports, disaster relief inspections, construction loan progress payments, portfolio risk management, and more.

Using mobile device technology, Verisite allows lenders to gather property data, such as interior and exterior photos with descriptions, maps, comparable sales data, and more, from borrowers, appraisers, inspectors, loan assistants, realtors, or anyone the lender deems fit.

“Verisite transforms loan pipelines into borrower attraction and retention tools by achieving a speed and efficiency level never before seen by the industry,” SharperLending founder and CEO Dave Black said.

Black added that the tool enables lenders to pick and choose which details and pictures they want then place their order to the photo agent of their choosing. Upon delivery, lenders can request additional details or picture retakes then generate the final report that meets their needs.

Verisite is available from within the ShareperLending’s Appraisal Firewall residential and commercial appraisal platform. After a request, mobile devices deliver the data back into the platform where it is combined to produce the Verisite Photo Report.

In addition to lenders, SharperLending is also offering opportunities for technology and data providers to private label the Verisite product as their brand.