New Documents

This is a notification to advise the Valfirms that there are new documents on the valuation request.

ValEx will simply resend this as a standard order() with new details.

In Compliance Valuation

A notification will be sent to confirm to the Valuation Firm that the Report is in Compliance for review.

Valfirms should implement the following new method:
addedToCompliance(ValEx_id, comment)

Bounced Valuation

When bouncing a Valuation from Compliance, ValEx will send the following Web Services message, to be parsed by the Valuation Firms for notification to review the report.

Valfirms should implement the following new method:
bouncedFromCompliance(ValEx_id, comment).

Fee Updated Message

A notification is required to be sent each time a fee has been amended/updated on a job request via the edit tab and the job has already been accepted by a Valuation Firm (ValEx will utilise the ValFirm Fee Field being actually changed from one value to another, to determine whether this notification should be sent).

ValEx will simply resend this as a standard order() with new details.

Re-Allocation Advice

A notification will be sent to the ValFirm when a job that is currently assigned to the incoming status (not yet assigned to a Valuer) and is reallocated to an alternate ValFirm.

This will utilise existing functionality (call to cancel()), with the addition of adding a reallocation comment to firms.

Re-engineered Valuation Process through ValEx

Please be aware that we will be rolling out the changes related to the improvements being made to the Communications and Process from Valuation Firms to ValEx and Clients with the view to create greater transparency of the Valuation Process. This is scheduled to be released on 17th March 2013.

The changes will encompass the ability for Valfirms being able send/receive the following messages via Web Services:

Recommendation

Recommendation is a field within ValEx which will allow the valuer to indicate whether the property is appropriate to be considered as security for lending purposes.

Recommendation is generally an optional field for Valuers. Some clients may select (due to their Mortgage Insurer’s requirements) that this is a mandatory question to answer (please refer to the 'RequiresRecommendation' section below for more detail on this).

XPaths

Recommendation actually encompasses the following three fields in Lixi (these will be described in the following sections):

  • //ValueComponent/@RequiresRecommendation
  • //ValueComponent/@RecommendedSecurity
  • //ValueComponent/@RecommendationReason

RequiresRecommendation

From a ValEx perspective there are settings which stipulates whether Recommendation is a mandatory field for valuers to answer for each Client or Funder. This will be sent from ValEx to the LIXI Firms via setting the RequiresRecommendation as “Yes” in the request when required:

<ValueComponent ... RequiresRecommendation=”Yes”> 

In turn, it will then be up to the valfirms to implement on their system to determine whether the Recommendation is required to be provided, based on what they receive from RequiresRecommendation.

RecommendedSecurity

This is the actual field for indicating whether the Security is an acceptable security to be considered for Lending Purposes.

There are currently 3 outputs for this field in Lixi:

When the Valuer is indicating that the Security is an acceptable security to be considered for Lending Purposes:

<ValueComponent ... RecommendedSecurity=”Yes”> 

When the Valuer is indicating that the Security is not an acceptable security to be considered for Lending Purposes:

<ValueComponent ... RecommendedSecurity=”No”> 

When the Valuer is not indicating either way (due to the setting being optional in ValEx per client/funder):

<ValueComponent ... >

RecommendedReason

When the Valuer indicates that the Security is not an acceptable security to be considered for Lending Purposes (i.e. RecommendedSecurity="No"), we will require comments to support this, at least 5 words will be required:

<ValueComponent ... RecommendedSecurity="No" RecommendationReason="This is not an acceptable security to be considered">

Environmental & Heritage Issues

As per the new API Rewrite implementation post July 1st 2012, there have been changes in relation to the parsing of the values in Lixi for the Environmental and Heritage Issues under the RiskAnalysis node:

  • //RiskAnalysis[@EnvironmentIssues]
  • //RiskAnalysis[@HeritageIssues]

The following is how the fields are parsed by ValEx from Lixi into the report:

//RiskAnalysis[@EnvironmentIssues=""]
//RiskAnalysis[@HeritageIssues=""]

will simply populate as a blank option in the report.

//RiskAnalysis[@EnvironmentIssues="None"]
//RiskAnalysis[@HeritageIssues="None"]

will indicate as the 'None' option in the report.

On the other hand, if these fields are neither set to blank or None:

//RiskAnalysis[@EnvironmentIssues="There are Environmental Issues"]
//RiskAnalysis[@HeritageIssues="There are Heritage Issues"]

these will basically populates as actual comments in those fields.

Ordering With High Priority Urgency (RequestedPriority/@Indicator)

RequestedPriority/@Indicator has the following values:

  • High
  • Normal
  • Low

Set this attribute to "High" to set the urgency level to urgent within Valex. This will be displayed to the valuer. Please use sparingly.

Submitting Job Notes

Valex now supports a solution for sending job notes via LIXI without removing delays. Previously, using an InProgress workflow was the only way to send job notes, but that is coupled to the functionality of removing delays.

We invite you to test and deploy our submitJobNotes(string valuationMessage) SOAP operation.

Note:

  • A ValuationType node is not allowed (including ValuationType/Workflow)
  • A MessageBody/Status is equally not allowed.
  • Job Notes are to be sent in MessageBody[@Type=”Information”]/MessageAnnotation[@Type=”EndUserMessage”]
<?xml version="1.0" encoding="utf-8"?>
<ValuationTransaction ProductionData="Yes"
xsi:noNamespaceSchemaLocation="http://vx.valex.com.au/lixi/schema/1.4.1/ValuationTransaction.xsd"
xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<RevisionNumber LIXIVersion="1.4" LenderVersion="1.0" UserVersion="1.0" UserType="Valuer"/>
<Identifier UniqueID="VXJ-000001000000" Type="VPMAssigned" Description="Valex Reference Number"/>
<Date>2011-12-21</Date>
<Time>15:46:09+10:30</Time>
<Publisher>
<RelatedEntityRef RelatedID="VXV-100000"/>
</Publisher>
<Message>
<Identifier UniqueID="Dummy_Value" Type="VPMAssigned"/>
<MessageRelatesTo>
<Identifier UniqueID="VXJ-000001000000" Type="VPMAssigned"
Description="Valex Reference Number"/>
</MessageRelatesTo>
<MessageBody Type="Information">
<MessageAnnotation Type="EndUserMessage"><!--ENTER YOUR JOB NOTES HERE--></MessageAnnotation>
</MessageBody>
</Message>
<RelatedPartySegment>
<RelatedParty RelPartyType="ValuationFirm">
<Identifier UniqueID="VXV-100000" Type="VPMAssigned"/>
<CompanyName BusinessName="John Smith Valuations"/>
</RelatedParty>
</RelatedPartySegment>
</ValuationTransaction>