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Veros Releases New Sapphire Collateral Valuation Management Tool

Oct 10, 2011

Veros Real Estate Solutions has launched Sapphire, a Web-based ordering and review platform that will initiate the next generation of collateral valuation management. Available in a series of packaged editions, each supported by a range of add-on options, Sapphire provides structured flexibility to manage valuation strategies from the beginning to the end of the loan lifecycle and enables clients to select a feature set tailored to their specific business model. The platform includes comprehensive order, quality control (QC), review, reporting, analysis and self-administration functions, as well as modules for Uniform Collateral Data Portal (UCDP) submission, preview and delivery, appraiser panel management, vendor management, channel optimization, and many more. “Veros created Sapphire with powerful functionality to help lenders streamline business operations and stay current on industry regulations,” said Darius Bozorgi, president and CEO for Veros. Designed from the ground up with ease of use in mind, Sapphire offers modular functionality that clients can introduce as necessary to reflect evolving business demands and changing regulatory requirements. Recognizing that lenders are continually managing their business operations to accommodate new government regulations and requirements, Veros created Sapphire to help these organizations stay organized, transparent and compliant. “Sapphire was created with three goals in mind,” said Adrian Newby, chief technology officer for Veros. “First, we wanted the most intuitive user-experience available in the industry. For a system to make a meaningful contribution to organizational productivity, the learning curve needs to be shallow. Second, we wanted to provide flexibility by designing modules that allow clients to select capabilities specific to their needs without incurring costs for functionality they neither need nor want. Third, we wanted to bring some ground-breaking new capabilities to the marketplace. For example, powerful vendor management and pipeline optimization features and comprehensive, self-service reporting and analysis capabilities are included.” In addition to the advanced feature set, Veros takes data security and business continuity very seriously. “Within the Sapphire product line there are options to manage data retention windows and archiving requirements at the discretion of the client,” said Newby. “Sapphire is being hosted within Veros’ state-of-the-art and redundant data centers so clients can rest assured that their critical business data is managed to the highest standards of availability, security and integrity obtainable in the industry.” Sapphire includes: ►Fully-electronic order and receipt for the entire spectrum of valuation products. ►Automated QC process that provides essential checks and balances behind the scenes to save time and effort by eliminating the manual review of an incomplete or non-compliant report. ►Comprehensive review features that provide internal staff with real-time access to valuation reports in the pipeline complete with skills and risk-based routing to ensure that the riskiest reports are routed to the most experienced staff. ►Management of all valuation providers and communications in a centralized location with complete audit trails. ►Standard and on-demand reporting tools for internal and external compliance. ►UCDP Suite, including UAD/UCDP preview, UCDP override and submission, as well as PDF extraction functions. ►Vendor management optimization and appraiser panel management give lenders more control over pipeline and report quality while maintaining compliance and objectivity.
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Oct 10, 2011
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