Veros Announces Advanced Warning & Management System For Natural Disasters And Associated Collateral Risk
Mar 30, 2006
Introducing Disaster Risk Program: Disaster Analysis Reports, VeroPHOTO+ Reports, & DisasterWatch
Santa Ana, CA - March 30, 2006 - Veros Real Estate Solutions, an industry leader in advanced mortgage decision technology, announced today an immediate addition to its Disaster Risk Program in the form of a valuable new warning and management system to further enhance their Automated Valuation Model (AVM), VeroVALUE. This alert feature delivers an automatic warning to provide immediate notification of potential damage to subject properties in designated disaster areas.
The actionable and customizable system is offered to interested parties in order to provide them with the most current information available regarding potential threats to property as a result of natural disasters in the form of earthquakes, fires, hurricanes and other possible threats. Veros maintains ongoing flows of information delivery from multiple sources, including FEMA, and other national, regional and local entities that possess up to the minute information regarding natural disaster threats.
The recent devastation cause by hurricanes and other natural disasters has awakened the need for methods to assist mortgage holders, insurance companies and all entities that share an interest in the potential impact of a natural disaster to be privy to current information regarding disaster impact on properties.
"Immediate access to pertinent information will enable decision-makers to respond with appropriate action to improve performance while mitigating risk," stated Darius Bozorgi, President and CEO of Veros. "Our Disaster Risk Program and especially, our Disaster Analysis Report gives access to abundant and important information at the moment when it matters most. We all know, that when it comes to disaster, one day can make a big difference," added Bozorgi. The warning and management system is designed to enable risk managers and mortgage holders to oversee their property portfolio by relying on the actionable system delivered by Veros Disaster Analysis. When an interested party receives a warning alert, they are apprised of recommended courses of action and given the ability to receive a comprehensive Disaster Analysis Report on the ongoing impact to the subject property and order a VeroPHOTO+ subject property photo and condition analysis for further verification.
When a Disaster Analysis Report is ordered for a property, customers have the option of selecting DisasterWatch, part of the Veros PropertyWatch monitoring program. DisasterWatch enables an organization to automatically receive future warning alerts and associated Disaster Analysis Reports for a given subject property or pool of loans for a period of five years. The Veros Disaster Analysis Report immediately delivers aerial or satellite photos of property status and its surrounding areas both before and after the disaster, a FEMA designated street map that provides overlays of hazard information and mapping of subject property and surrounding area and a complete description of the type and severity of hazard or damage.
VeroPHOTO+ reports are delivered within 24-48 hours of placing the order and include a digital photo of the subject property and an external property condition report completed at the time of the order. Supplemental options include interior photographs, street scenes, and photographs of nearby recent area sales.
More information and a complete description of the Disaster Risk Program can be found on the web at www.verovalue.com or contact Veros at (866) 458-3767.
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.