xit2, the online property data network, has announced a new deal to supply valuation management services to property service group Movewithus.
The independent Asset Manager and LPA Receiver will be using xit2’s Valuation Exchange to manage the instructions process on their repossessed and vacant properties.
Peter Gammon, asset management director at MWU, says: “As an innovative supplier ourselves and one which continues to utilise online management systems, we chose to manage our valuations through xit2’s Valuation Exchange because it will provide better, more transparent, management information without compromising our internal controls, helping us to manage our client service levels more effectively.
“We will obtain MI and performance reports swiftly, with all data exchanged between parties meeting our high standards of security.
“Furthermore, using the Valuation Exchange will mitigate our risk by managing our existing panel of surveyors online. It will also allow us to track and audit all the work undertaken on our behalf and bring improved third-party oversight to the repossession processes.”
Mark Blackwell, managing director of xit2 says, “While we hope the Valuations Exchange will help Movewithus run their business more efficiently than ever we also hope the Valuation Exchange is going to demonstrate, yet again, that it can provide an auditable trail of activity and communication that has TCF and third party oversight at the heart of its design.
“With the time to sell a repossessed property critical for lenders to manage, the communication between lenders and asset managers is only set to increase as asset managers spend longer selling and maintaining repossessed properties.”