|
|
|
 |
 |
Veros Helps Lenders Meet Latest Freddie Mac Seller/Servicer Updates
— Veros Real Estate Solutions Confirms Alignment with Freddie Mac Best Practices
|
Santa Ana, CA – July 14, 2009 -
Veros Real Estate Solutions, an industry leader in
enterprise risk management and property valuation services, is leading the charge in
announcing full compliance and support of Freddie Mac’s updated seller/servicer
guide, outlining new lender requirements and best practices. Veros confirms they
provide all necessary services for Freddie Mac lenders to meet these recommended
standards relating to automated valuation models (AVMs).
The July 10th Freddie Mac update references continued underwriting process
deficiencies related to asset verification, appraisal quality and liability calculation.
Freddie Mac is taking strides to promote sound underwriting and appraisal practices
and has updated its Single-Family Seller/Servicer Guide requirements with new
policies and recommendations. Among the best practices is a strong push for
lenders to utilize AVMs and other tools as part of the origination or pre-funding
quality control process to detect fraud and objectively measure accuracy of
appraisals.
“AVMs have a proven track record in fraud detection and objective appraisal
measurement,” states Darius Bozorgi, president and CEO of Veros. “Through the
use of our industry-leading VeroVALUE Automated Valuation Model, market risk
analytic reports such as Veros’ Collateral Integrity Analysis (CIA), or our proprietary
and fully transparent VeroSELECT system, which provides multiple third-party AVMs
and automated valuation services; users at all levels can ensure the value of the
property is supported and the risk of default is significantly minimized.”
Veros confirms its state-of-the-art enterprise risk management platform,
VeroSELECT, is fully aligned with Freddie Mac’s goals and will provide an efficient
means for lenders to achieve investment quality. VeroSELECT provides access to a
full range of collateral risk solutions including property information, AVM products
(including Freddie Mac’s HVE model), BPO services, appraisals, collateral fraud
tools, prequalification solutions and hybrid products and services.
“A key benefit of VeroSELECT relating to the recent Guide update is the ability to
pull individual AVMs, or to build, run and audit proprietary or third-party AVM
cascades and compare them to appraisals ordered through the valuation
management system from any number of providers,” continues Bozorgi. “Users can
order single property transactions or large volume bulk or batch orders and even
manage multiple AVMs, preference tables and refined rules. These features
ultimately enable faster, properly supported and more accurate valuation risk
decisions.”
“Fully automated and actionable decisions may be defined pursuant to identified
threshold deviations between the AVM value and the appraisal value,” explains
Bozorgi. “These decisions may include referral for human review, a function also
available on Veros’ enterprise-ready advanced Valuation Risk Management (VRM)
system.”
For additional information on Freddie Mac and the updated Single-Family
Seller/Servicer Guide requirements, visit www.freddiemac.com. For additional
information on Veros, VeroSELECT, VeroVALUE, CIA or the company’s diverse
product portfolio, visit www.veros.com or call (714) 415-6300.
About Veros Real Estate Solutions
Veros Real Estate Solutions, a proven leader in enterprise risk management and
collateral valuation services, uniquely combines the power of predictive technology,
data analytics and industry expertise to deliver advanced automated decisioning
solutions. Veros products and services, integrated into industry leading companies,
are now optimizing millions of profitable decisions throughout the mortgage industry
from loan origination through servicing and securitization. Veros provides solutions
to control risk and increase profits including automated valuations, fraud and risk
detection, portfolio analysis, forecasting, and next-generation collateral risk
management platforms. Veros is headquartered in Santa Ana, Calif.
|
|
|
 Return |
| |
| |
 |
|
|
