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""Veros Real Estate Solutions"":http://www.Veros.com, a collateral valuation and predictive analytics firm based in Santa Ana, California, said Wednesday that its technology platforms for delivering appraisals to mortgage and property investors adhere to the MISMO 2.6 format and meet new industry requirements for electronic appraisal data delivery.
[IMAGE]The company says this capability, integral to both the VeroSELECT 3.0 and Valuation Risk Management (VRM) platforms, will result in new levels of appraisal quality and collateral documentation for all market participants.
Veros explained that its VeroSELECT platform is designed to intelligently route and return appraisals, as well as all other forms of valuation products, including broker price opinions (BPOs), automated valuation models (AVMs), automated risk, fraud, and data products.
The system also offers direct connectivity into investor portals to help lenders ensure they are meeting investor compliance requirements and identify potential valuation concerns. The platform's ability to route valuation orders across multiple service sources also provides Home Valuation Code of Conduct (HVCC) compliance to meet federal agency standards.
[COLUMN_BREAK]Veros' VRM system builds on the VeroSELECT technology by offering the same collateral-focused features and adding a scalable valuation review module, as well as enhanced quality control functionality. Veros says VRM is ideal for high volume, enterprise-level collateral needs and manages all property valuations from origination through servicing.
David Rasmussen, SVP of sales for Veros, stressed that ""VeroSELECT 3.0 and VRM provide a direct path to investor electronic appraisal portals. Over the years, Veros systems have focused on innovating and improving collateral valuation and risk procedures. Our customers now have the ability to seamlessly submit the completed appraisal to their investor partners with immediate and significant cost savings,"" he said.
The Veros systems are delivered on a software-as-a-service (SaaS) basis, so users access the platform online and through direct system-to-system integrations. Veros takes care of hosting and maintaining the technology.
""SaaS delivery lets mid-market and smaller lenders enjoy the same levels of sophistication as their largest competitors,"" Rasmussen said.
He noted that rule-based ordering and routing configurations are designed to be customized by users, not technology experts, and are simple to accomplish.
""Time and technical support resources are precious,"" Rasmussen said. ""Veros is prepared to do the heavy lifting, freeing important IT resources for other tasks.""
Using Veros' platforms, the company says lenders can immediately address compliance with the electronic data delivery initiatives designed to bring new levels of transparency to the mortgage industry.
