Veros Real Estate Solutions' PATHWAY Provides Direct Link to UCDP
Aug 19, 2011
Santa Ana, Calif. – August 19, 2011 – Veros Real Estate Solutions (Veros), an industry leader in enterprise risk management and property valuation services, has announced the launch of PATHWAY, a submission solution for the Uniform Collateral Data Portal (UCDP), the web-based portal used to electronically submit appraisal data files prior to loan delivery to Fannie Mae and Freddie Mac (GSEs). This solution is geared to assist companies that need additional appraisal quality control prior to UCDP submission.
This direct system-to-system integration provides lenders, lender agents, appraisal management companies, and other technology providers a configured solution to fit their needs. Service options include PDF extraction, UAD compliance preview/UCDP error preview, UCDP submission and UCDP results. Additionally, clients have the flexibility to grow and transition to Veros’ state-of-the-art platform solutions when volumes require greater technology support down the road.
“The PATHWAY solution is sized to specifically to address the needs we are hearing from the marketplace,” said David Rasmussen, senior vice president, operations for Veros. “The solution has the ability to allow tech providers or lender agents to create their own ‘pathway’ for their lender clients. Our goal is to provide greater access for all industry participants to the portal in a way that works the best for their business processes and relationships.
As the technology provider responsible for lender integrations to the portal we have a full understanding of the complexities involved in this business process shift.”
With PATHWAY, users can submit seamlessly to UCDP and convert PDFs to the approved XML format. In addition, the platform accepts UAD and non-UAD reports, and provides the ability to handle the following:
- UAD Preview: Quality check on appraisal report content to confirm information is ready for UCDP submission.
- UCDP Preview: An initial run-through of UCDP’s known requirements to confirm passing status.
- Upfront Error Correction: Contains background data on UCDP failure status and provides an opportunity to take independent corrective action through UCDP.
- Submission Data Collection: Electronically provides key loan status identifier data from the UCDP integration back to the client.
In addition to PATHWAY, Veros provides other platform solutions for enterprise-level users with a need to fully automate the collateral valuation process and related procedures. These solutions are available as independent options to manage the full spectrum of collateral valuation products that deliver compliant appraisals to the GSEs.
Veros is a significant provider of property valuation analytics, including automated valuation models (AVMs), automated fraud and risk analytics, as well as future value forecasting for the real estate and mortgage industry. The company is also a leading provider of automated valuation and risk management solutions offering platforms managing the entire spectrum of collateral valuation products while simultaneously monitoring workflow for compliance. Veros is the official technology provider selected by the GSEs to build, manage and maintain UCDP.
Recognized by its peers, Veros was the recipient of Mortgage Technology Magazine’s 2010 Synergy Award for its efforts around the Uniform Collateral Data Portal. Additionally, Mortgage Banking Magazine named Darius Bozorgi, Veros’ president and chief executive officer, a 2011Technology All-Star for his thought leadership and technological innovations.
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, Calif. For additional information on Veros, visit www.veros.com or call (866) 458-3767.