TrueClose and Veros Partner to Deliver Instant AVM Reports to Brokers via TrueClose Web-Based Loan Origination Platform

Apr 20, 2004

Pittsburgh, PA - April 20, 2004 - TrueClose, a technology provider for the mortgage industry announced today that it has entered into a strategic partnership with Veros to incorporate its market leading AVM reporting capability into its TrueClose Web-based loan origination platform.

Now, brokers can effortlessly access various Veros' VeroVALUE automated valuation model (AVM) reports directly within TrueClose, and support their origination efforts with convenience and integration previously unavailable to traditional desktop based LOS systems. Downloaded reports, instantly available as PDF documents, are stored in the Document VaultT and made accessible to loan processors, underwriters and compliance officers through a simple to use Web interface. 

Veros delivers the industry's most accurate automated valuations with meaningful confidence scores and the highest usable hit rates available for true value in any production setting. VeroVALUE currently provides valuations in 40 states and over 600 counties nationwide.

"We are very pleased to offer VeroVALUE through the TrueClose platform," said Darius Bozorgi, President and CEO of Veros. "This partnership will extend the reach of our advanced collateral valuation solutions to customers looking for tight integration with their LOS and document management capabilities - all accessible through a Web-based platform."

"After evaluating many AVM providers in the market, we have selected Veros because of their reputation, quality and coverage", explained Michael V. Blair, Chief Executive Officer of TrueClose.

TrueClose provides loan originators with convenient access to a Web-based platform managing the entire mortgage process: From prequalification and initial disclosures delivery to vendor interaction and closing. Through its array of partnerships, TrueClose connects all mortgage process constituents in a seamless, paperless network benefiting originators, vendors and consumers.

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 are 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, California. To order the VeroFORECAST update or receive information on other Veros analytic products and systems, visit or call (866) 458-3767.

Category: Press Releases