Today panel managers and valuation fulfilment businesses need to offer lenders quality as well as speed. We've always known that risk management is an integral part of the services we provide. So whether we panel manage or provide valuation fulfilment for you, our flexible approach means we can genuinely address the changing requirements of your own business.
For building societies, Valunation offers a perfect tailored service founded upon a wealth of experience, expertise and the best technology in the business. We pride ourselves on our ability to think like a lender.
On the first of December 2010, Valunation was appointed panel manager for the Ipswich Building Society. The Ipswich joined other small societies already on board like the Loughborough. The Ipswich three year deal underlines the importance of appropriate partners in driving value.
Alison Beech, Group Relations Director, explained how the decision to appoint Valunation came about.
"The incumbent provider's contract was due for renewal and Ipswich felt that after such a period of market instability, a large panel manager was no longer the most appropriate option for them on a cost or value basis."
Ipswich's view is not an uncommon one. Many smaller societies struggle to get the best out of large panel managers because unlike banks they simply cannot - and do not wish to - provide large volumes. This can often mean that societies feel they do not always get heard and relationships break down.
"I think our size and flexibility played a key role" continues Alison, "it is easy to underestimate the value of basics such as servicing - having a point of contact that is constant and experienced and really understands what you are trying to achieve."
Indeed the eighty strong surveyors and twenty four head office management team at Valunation process over 100 cases a month for Ipswich. They have played a fundamental role in helping shape an improved risk policy from their insights into industry developments and trends including methods of construction and topically fraud.
"As a national provider it is important to have a strong local presence if you are to successfully help small societies - we aim to achieve both these things. We are perfect for smaller societies."
But it is important to be able to deliver on promises. "We successfully and seamlessly migrated their business from their previous supplier - a process that included their outsourced origination system provider. Our technology approach and team (many of whom have worked in lenders) means we can deliver management information that really adds to the clients' decision making. It is not one size fits all. We have developed an approach that takes many best of breed systems to inform our clients about everything from audit to fraud detection.
The last word should go to the Ipswich them-selves. Ian Brighton, General Manager (Business Services) & Secretary, says "We really have been overwhelmed by the service and value Valunation have brought to our business. Until you take a step like this it is very easy to imagine that the risks of up heaving current arrangements outweigh the benefits. Our experience is that you may stand to risk more if you do not."