Mortgage valuation Group (MVG) was conceived in 2002 with a view to monitor the risk related to real estate assets taken as collateral security

Independent structure:

MVG group has an independent structure reporting to CPG Head. The internal independent team plays a critical role in controlling the risk related to property valuation and almost every private finance player has their own internal team to monitor the risk related to real estate. The external agencies may come under the influence of customers and inflate the value or may collude with customer for fraud hence a check is required over them.

The MVG team apart from valuing the cases approves each and every report received from external agencies which keeps the agencies under check.

Background of Team:

The team comprises of 500 civil engineers and Architects hailing from some of the premier Institutes like IIT, BITS, NIT, NICMAR and other institutes. The role of civil engineers in Finance industry is well established now with almost every Private Bank and NBFC having group of civil engineers managing the risk related to real estate taken as collateral security while lending either to retail customers or to developers. The educational background facilitates performance of their roles in their function:

- Methods of valuation including application of right methodology based on property type and demand in market.

- Estimation and costing

- Avert frauds related to either overvaluation of properties or wrong identification.

- Understanding the critical documents required for property identification and establishing the correct identity and property extent at site.

- Ability to read and interpret the building plans approved by various statutory bodies

- Ability to study and interpret local bye laws related to building rules issued by various govt. authorities like Development Authorities(DA), Corporations, Municipalities, Directorate of Town and country planning(DTCP) etc.

- Ability to understand and enforce applicability of changes in Real estate environment rules like RERA, Changes in Master plan etc.

- Capability to build an intelligence around changes in regulatory environment like risk of demolition, sealing or any other punitive action around properties taken as security by the Bank.

Tasks performed: Physical inspection of property, measurement of the property wherever possible and basic due diligence from neighborhood of property.

- Coordinates and completes the APF (Advanced processing facility) process involving legal and technical due diligence including checking regulatory compliances like EC, Pollution, Fire, Electricity, Airport clearance, Sewerage board etc.

- Monitor rate trends and construction progress in Builder projects periodically

Frauds averted:

MVG team has contributed in prevention of many frauds arising out:

- Fraudulent documentation

- Seller impersonation

- Multiple funding

Min Qualification: B.E/BTech Civil Engineer

Experience: Should have a total experience more than 5 years in Property valuation with any Financial institution or IPCs(International property consultants) out of which 2+ years of experience should be in handling a State/Region.

Role of Regional Technical Manager:

- Manage and coordinate a team of Engineers and External Agencies involved in Real Estate Asset Appraisals / Valuations

- Handle multiple business functions and ensure delivery of valuation services within TAT

- Optimization of team performance by tracking KPI

- Team leader & solution provider for customer escalations/queries

- Drive NPS scores for the team and ensure smooth customer experience

- Monitor and drive TAT & Productivity of team members and vendors

- Thorough knowledge of local byelaws, valuation methodologies to be adopted for each case scenario, real estate market practice intelligence & local geographies to understand the market trends.

- Conduct classroom/virtual training sessions for various team members on valuation process

- Innovate, develop and implement new ideas to drive Digitization & automation of valuation process.

- Ensure Process & System Compliance, Conduct project & property audits