""PCV Murcor Real Estate Services"":http://www.pcvmurcor.com, a valuation service provider to the banking industry, announced this week that it is fully integrated with ""Veros Real Estate Solutions"":http://www.veros.com/realestate.html as part of the ""Fannie Mae Collateral Data Delivery"":https://www.efanniemae.com/sf/technology/commitloandel/cdd/ (CDD) initiative.
[IMAGE] The GSE has alerted lenders that at a date to be announced later, but no earlier than July 1, 2010, it will require all of its lenders to submit full appraisal reports in an electronic data format, at least 24 hours prior to the delivery of a loan package to Fannie Mae.
Veros Real Estate Solutions was chosen by Fannie to be the sole technology provider for the CDD project, with the responsibility for building, maintaining, and supporting the CDD system, as well as handling direct integrations with the CDD system.[COLUMN_BREAK]
Russell Lewis, chief information officer of PCV Murcor, explained, ""One of our top clients was chosen by Fannie Mae to be an early adopter of this technology and asked us to partner with them in being an early adopter of this technology as well.""
Lewis added, ""This project has been our highest priority since it was announced by Fannie Mae last year. This technology will allow our clients to send appraisals directly to Fannie Mae leveraging our integration with Veros. We actually have vendors that have been delivering the appraisal data elements to us for several months now in anticipation of our ability to deliver the data to the new CDD system.""
Pomona, California-based PCV Murcor provides residential and commercial valuation products and consulting services and has been practicing ""appraiser independence"" since its inception in 1981. The company was founded by a licensed appraiser and is still owned and operated by this appraiser who holds the Appraisal Institutes MAI designation.
For almost 30 years the company has provided a full range of valuation products nationwide on all types of property for the purpose of loan origination, loss mitigation, REO, PMI Removal, portfolio valuation, and litigation.