Veros Integrates with Calyx to Provide Leading AVMs to Point Software Users
Aug 27, 2014
Santa Ana, Calif. – August27, 2014 – Veros Real Estate Solutions (Veros), provider of industry-leading automated valuation model (AVM) VeroVALUE and a reseller of other top-performing AVMs, has been integrated into San Jose, California-based Calyx® Software’s Point® software. Calyx Software is the mortgage industry’s leading provider of loan marketing, originating and processing software. Through the integration, Veros providesimmediate access to VeroVALUE and other respected AVMsforPoint users, along with formulated AVM cascades that use popular industry AVMs in succession to increase user hit rates.
VeroVALUE is a consistent high performer in industry tests, bringing perspective and accuracy to valuation efforts in support of lending decisions, portfolio analysis and risk reduction strategies. Veros also offers a variety of AVMs from othercompanies, all vetted to meet Veros’ high standards.
“In talking with VeroVALUE users, I was pleasantly surprised to learn the accuracy of their AVM when compared to other AVM vendors they tested,” said Dennis Boggs, executive vice president, business development for Calyx Software. “One user said, ‘We feel safer using VeroVALUE due to Veros’ conservative approach. The other vendors we tested didn't apply any standard deviation and their results were all over the place – up to 30% off compared to the appraised values,’” Boggs related. “With the new VeroVALUE interface, users will now have improved ease in ordering from within Point, save time by not having to re-enter data, and have the value returned in a PDF file that is automatically saved in Point’s Document Storage,” he said, adding, “We love that.”
AVMs have long been a staple of the lending industry, providing fast, objective and inexpensive valuation information for a variety of uses. Evolved modeling techniques and a wealth of available data have combined to make AVMs much more accurate and reliable, increasing their importance in mortgage transactions in recent years.
“Partnering with Calyx to make highly accurate AVMs from Veros and others immediately available is a very positive development for Point users,” said David Rasmussen, senior vice president of operations for Veros. “Lenders, brokers and other Calyx users are able to make better and faster decisions to improve loan performance and reduce risk by using industry-leading technologies from Calyx and Veros,” he said. “We are delighted to be part of theirreliable network.”
About Calyx Software
Calyx Software, the #1 provider of mortgage solutions for banks, credit unions, mortgage bankers and brokers, is dedicated to offering reliable and affordable software that streamlines, integrates and optimizes all phases of the loan process. PointCentral is Calyx’s flexible platform utilizing the full functionality of Point combined with remote access and a strong business rules engine needed for workflow and compliance.Point, the leading LOS, simplifies loan processing and enables seamless integration with online applications using WebCaster, back office systems using Point SDK and with over 200 service providers within the Calyx Network. For more information, call (800) 362-2599 or visit www.calyxsoftware.com.
About Veros Real Estate Solutions
Veros Real Estate Solutions, an award-winning, 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 more information, please visit www.veros.com or call (866) 458-3767.