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Collateral valuation technology provider ""Veros"":http://www.veros.com/ announced Tuesday a major upgrade to VeroSCORE, its appraisal report analysis product.
[IMAGE]The new VeroSCORE features an enhanced user interface that can be accessed via the web. It also emphasizes validation of the Uniform Appraisal Dataset (UAD) along with an included pre-check of each appraisal against known requirements prior to submission via the Uniform Collateral Delivery Portal (UCDP), an industry standard technology built by Veros.
It also includes additional rules to test the credibility of appraisals. VeroSCORE provides individual numeric scores based on the ""three Cs"" of appraisal quality: Completeness, compliance, and credibility. These scores are presented with an overall VeroSCORE ranging from 0-1000, along with suggested routing.
""VeroSCORE is of tremendous help for lenders desiring to test and improve quality on their incoming appraisals,"" said Bill King, Veros' director of valuation services. ""It also allows AMCs to provide third-party validation on appraisals prior to going to their clients, and is an essential due diligence tool for mortgage investors when buying loan pools. The new VeroSCORE incorporates a number of analytic and reporting enhancements that reduce costs, improve efficiency and enable easier compliance.""
Headquartered in Santa Ana, California, Veros Real Estate Solutions is a provider of enterprise risk management and collateral valuation services.
