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SharperLending, LLC, Offers Lenders Access to 11 Warranted AVMs Through Bundled Services Platform
Monday March 15, 8:01 am ET
AVM Plus Enhances Value of SharperLending Platform |
PHOENIX--(BUSINESS WIRE)--March 15, 2004--SharperLending, LLC, provider of a secure Web-based platform for lenders to order, store and manage mortgage products from multiple vendors at a single point of entry, has added AVM Plus(TM) to its SharperLending platform. AVM Plus is a combination of technology and industry specific errors and omissions (E & O) insurance that allows lenders to use workflow to automate the ordering of automated valuation models (AVMs) and guarantees warranty on the results all from a single workstation.
Through AVM Plus, lenders can select from 11 AVM providers to accurately assess the collateral value of residential property as security for mortgage loans and to determine loan-to-value ratios. Driven by a cascading technology, AVM Plus automatically moves the property through selected valuation models based on the lenders' preferences to receive the highest hit ratio within seconds.
"We continue to enhance our platform as the mortgage industry moves toward bundled services," said Dave Black, president and CEO of SharperLending. "The addition of AVM Plus is in answer to the lenders need to have quick, accurate and guaranteed property valuations."
AVM Plus is specific for originations, re-finances or equity mortgages and is available for a variety of loans from conforming to sub-prime. The AVM reports ordered through the platform carry an industry-specific E & O policy that guarantees the accuracy of the report for the life of the loan.
"We partnered with 11 of the leading automated valuation providers and a quality errors and omissions provider to guarantee assurance in property valuations in the most efficient and timely manner," said Black. "AVM Plus offers lenders a variety of unbiased providers that best suit their particular needs and can deliver results quickly and efficiently."
AVMs represented through the AMV Plus platform, include: Home Value Explorer (HVE), Veros (VeroValue), Combined AVMs, Basis100, Case-Schiller Weiss (CASA), LandSafe (Value Finder), Value Wizard, Net Value, PSAR, SiteXValue and HPA 2000.
About SharperLending, LLC
Headquartered in Spokane, Wash., SharperLending, LLC, was founded in 1989 and is the first to offer a complete browser-based mortgage credit reporting system on the Internet. The company's proven technology has processed more than 40 million secure credit-related mortgage transactions with more than 800 million trade lines. SharperLending, LLC, has three divisions under its corporate umbrella: SharperLending Bundled Services Division, the bundled services platform; SharperLending Affiliated Credit Division, technology for the credit reporting industry; and EPN Solutions, the loan origination product packaging division. For more information, visit www.sharperlending.com. |
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