Veros, a provider of collateral valuation technology, enterprise risk management and predictive analytics, confirms its readiness of its platform systems to deliver appraisals to investors in MISMO 2.6 format to meet new industry requirements for electronic appraisal data delivery. This capability, integral to 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.
The VeroSELECT platform is designed to intelligently route and return appraisals and all other forms of valuation products, including broker price opinions (BPOs), automated valuation models (AVMs), automated risk, fraud and data products. With its connectivity into investor portals, it provides the ability to assist lenders in meeting investor compliance requirements and identify potential valuation concerns. The flexibility to dynamically route valuation orders across multiple service sources provides Home Valuation Code of Conduct (HVCC) compliance, while tracking all transactions and data elements in a real-time, fully auditable reporting module. VeroSELECT also maintains all data points from the valuation source, including a PDF of the entire report.
Veros’ VRM system enhances the VeroSELECT technology by offering the same industry-leading collateral focused features and adding a robust and scalable valuation review module and enhanced quality control functionality. VRM is ideal for high volume, enterprise-level collateral needs and manages all property valuations from origination through servicing.
“VeroSELECT 3.0 and VRM provide a direct path to investor electronic appraisal portals,” says David Rasmussen, senior vice president of sales for Veros. “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.”
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,” said Rasmussen. “Time and technical support resources are precious. Veros is prepared to do the heavy lifting, freeing important IT resources for other tasks.”
Using Veros’ platforms, lenders can immediately address compliance with the electronic data delivery initiatives designed to bring new levels of transparency to the mortgage industry. Veros streamlines appraisal management and workflow eliminating conversions or middleware and increasing appraisal accuracy and data integrity.
For more information, visit www.Veros.com.