Veros Announces Advanced Collateral Risk Management Platform
Oct 24, 2005
VeroSELECT allows clients to manage and control the full collateral valuation chain with a fully automated and truly scalable enterprise solution
Orlando, FL - October 24, 2005 - Veros Real Estate Solutions, based in Santa Ana, California, has introduced VeroSELECT, a state-of-the-art collateral risk management platform to efficiently control, manage and monitor risk strategies, at the 2005 Mortgage Banking Association's Annual Mortgage Banking Conference and Expo in Orlando, FL. VeroSELECT was developed to permit absolute control of risk strategies with secure management of vendors, users, products and services, and a lender's own proprietary business processes. The platform administration is dynamically configurable online and, although certainly available, does not require manual intervention from Veros.
"Flexibility and scalability are the key features missing in self-proclaimed risk management platforms today," said Darius Bozorgi, President of Veros. "VeroSELECT was designed to fill existing voids while providing unlimited customization and control of a lender's risk management policies." Customers may define and manage dynamic rule sets based on LTV, credit, product type, geography (county, city, zip code, etc), confidence scores, fraud scores, and other user-defined variables or choose from pre-defined preference tables. Bozorgi added, "The challenge in building complex systems is making them very user-friendly and intuitive for those users only interested in more basic functionality while at the same time offering advanced users the ability to have real-time and complete control over the detailed nuances of risk management - all wrapped-up in a system with appropriate security, audit trail, monitoring, reporting, and self-service administration capabilities. We have accomplished this goal in VeroSELECT."
Depending on a client's appetite for management and control, VeroSELECT provides the scalability required to manage a host of collateral risk products and drill down to several levels of user-defined granularity. AVMs, BPOs, appraisal products, fraud tools, property profile reports, photos, maps, condition reports and other collateral risk analytics or data can be accessed separately or in concert through multiple rules-based policies designed to fit a lender's particular business strategy.
To find out more about Veros' new risk management solution and the complete suite of Veros products available to the mortgage industry, please visit Veros at the 2005 MBA Annual Mortgage Banking Conference, booth number 1227.
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 www.veros.com or call (866) 458-3767.