2-hydroxyisoflavanone synthase, which catalyzes the hydroxylation associated with 1,2-aryl migration of flavanones. Converts liquiritigenin and naringenin into highly unstable precursors of the isoflavones daidzein and genistein. liquiritigenin + O2 + reduced [NADPH--hemoprotein reductase] = (2R,3S)-2,4',7-trihydroxyisoflavanone + H(+) + H2O + oxidized [NADPH--hemoprotein reductase] (2S)-naringenin + O2 + reduced [NADPH--hemoprotein reductase] = 2-hydroxy-2,3-dihydrogenistein + H(+) + H2O + oxidized [NADPH--hemoprotein reductase] Belongs to the cytochrome P450 family.