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Valuation Firm GuideClient Guide
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Valuation Firm GuideLong Form XML - First Mortgage AttributeFirst Mortgage AttributeThe First Mortgage attributes flags that the report is going to be used for first mortgage purposes only. If this field is not supplied, ValEx will default to “Yes” (First Mortgage Purpose only). /Title/Encumbrance/@FirstMortgage Long Form XMLInsert Title Here Action UpdatesAn Action Update will act like a Delay, in the sense that it will not remove other status, like, appointment & inspected, however, when applied it will be the primary status of the job. Marking the Job as Inspected will remove any previous Action Update (like a delay). However, an Action Update can be applied after an Inspection has been confirmed (like a delay). When a Delay is applied to a Job already, the Action Update will not override the Delay. The Action Update will be applied as a sub status to the Delay on the Job, the Delay will remain the Primary Status. If an Action Update is on a Job and then a Delay is applied, the Delay will become the primary status of a Job, and the Action Update will not be removed, but will become a secondary status on the job. New LIXI SOAP OperationsaddActionUpdate(valexId, update_code, comment)
This is the standard operation that should be called for adding an Action Update to a job.
actionUpdateFeeApproval(valexId, reason_code, fee_amount, comment)This is the operation to call for adding an action update where the reason is to seek approval for a higher fee on a valuation request.
actionUpdateReassignment(valexId, comment, fee_amount)This is the operation to call for adding an action update where the reason is to seek approval for a re-assignment of a previously completed valuation. actionUpdateServiceTypeWithFeeApproval(valexId, comment, fee_amount)This is the operation to call for adding an action update where the reason is to seek a service type change with a higher fee approval on a job. RecommendationRecommendation 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). XPathsRecommendation actually encompasses the following three fields in Lixi (these will be described in the following sections):
RequiresRecommendationFrom 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. RecommendedSecurityThis 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 ... > RecommendedReasonWhen 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 IssuesAs 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:
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. Inbound Reject Quote
If the valuation firm decides to reject the quote request, the following SOAP operation should be called: int rejectQuote(string valuationMessage) We expect a standard LIXI message containing the following:
Inbound Provide Quote
If the valuation firm decides to provide a quote, the following SOAP operation should be called: int provideQuote(string valuationMessage)
We parse required data from the following locations in the LIXI workflow message (
We also expect:
Outbound Quote Request
A quote will be sent to the valuation firms’s SOAP service. The following operation signature should be implemented: int quoteRequest(string valuationMessage, amount) Where:
The TitleSearched vs TitleSightedThe ValEx system was designed some time ago based on a version of Property Pro available at the time as a representation of the valuation standards. One of these is the question “Has the title search been sighted?” replacing “Title searched?” ValEx will be updating its user interface & output reports; as well as it’s LIXI parsing... Instead of looking at:
ValEx will look at: We are asking all LIXI valuation firms to investigate their current user interfaces and LIXI rendering behavior; to confirm that
This will allow ValEx to swap the basis LIXI parsing in regards to this area with no disruption to your end users. ValEx will be making the change during August 2011 Title DetailsTitle Details appears under the Property Summary on the Summary Tab. Below are some LIXI mappings for Title details:
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