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Valuation Management Services
xit2 specialises in providing secure data and property risk management services to the
mortgage market. Our valuation management services platform provides lenders, surveyors,
the online property data network third party administrators and asset managers with a safe and swift means of managing the
valuation process.
We operate in the first and second charge • Data security
mortgage markets, commercial and bridging • Process management
and repossession markets. In fact any sector • Third party oversight
where a professional physical or quality
automated valuation is required is where you • Panel management
will find us. • Underwriting
• Mobile technologies
In today’s increasingly risk conscious environ- • PI insurance management
ment we provide support and reassurance in
the following areas:- • Fraud
Data Security
We recognise the importance of reputa- Panel management – a term that has been
tional risk for lenders and surveyors and around the surveying market for years
the desire to work with trusted third parties has and latterly has become a real hot topic in
never been more important. Our focus on data conveyancing to primarily manage solicitor – led
management limits this risk. fraud and provide due diligence for lenders when
they instruct solicitors to deal with hundreds
We have a strong track record of collaborating of thousands of pounds on each and every
and partnering with other suppliers to lenders mortgage – this year that’s around 860,000
who require us to support their businesses in a mortgage transactions! Some risks is still a key
professional manner. component in today’s valuation space.
The mortgage underwriting process can be Surveying panel management has been
costly and our ability to outsource a number driven largely by mortgage reciprocation
of tasks for lenders means we can offer notable and service provision focused on speed of
savings in areas such as valuation administration, tunraround. Today it’s more to do with audit
invoicing, credit control and tailoring systems and risk management and careful allocation of
providing support for business process re- valuations by lenders to help secure mortgage
engineering. Our dedicated service centre intermediary distribution.
will also provide lenders and their panels of
surveyors with on call help with their support We provide all of the above and more by
queries. working alongside panel managers and AVM
providers and having separate contractual
Managing panels which is ordinarily through relationships with each of our many lender
a panel manager couldn’t be more controlled clients – a necessity to give lenders clear
using xit2. We build your panel of surveyors oversight of what we do as technology
for lenders and build rules sets that allows suppliers. Competitors in our space have to
them to run an automated process of valuation play catch up here.
allocation, management and reporting to suit
their needs. In the last year we have seen the FSA’s Thematic
Review – Mortgage Fraud against lenders –
This provides our clients with the third party a review of lenders’ systems and controls to
oversight they need to communicate back to detect and prevent mortgage fraud. It makes
internal stakeholders that whilst panels maybe compelling reading – the FSA looked “....at firms
managed outside of the business there is full systems and controls to approve and manage
transparency of performance through xit2’s relationships with third parties focusing on the
valuation management software. vetting of new providers and arrangements for
managing panels.” This is a big area of concern
for the regulator and one we readily work with
lenders on today.