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Veros launches Collateral Integrity Analysis Report to defeat mortgage fraud and assess mortgage risk
-No predictive tool goes deeper to find risk and fraud before funding-
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SANTA ANA, Calif., OCTOBER 23, 2006 - Veros introduces, Collateral Integrity Analysis, the most accurate predictive indicator of mortgage fraud and market risk available in the industry. The Collateral Integrity Analysis (CIA) report utilizes the latest technology to analyze, detect and accurately identify high-risk properties, market areas, and transactions while minimizing costly false positives. The CIA report provides lenders with powerful information vital for the identification of fraudulent or high risk real estate transactions, prior to critical business decisions involving origination, acquisition, servicing, or loss mitigation strategies.
In addition to analyzing individual property risk, Veros' CIA report applies state-of-the-art analytics to all aspects of local and regional market dynamics, including historic price trends, forecasting analysis, and the complexities of fraudulent behavior. The resulting analysis and information are reconciled to provide a series of predictive scores that are highly correlated to the likelihood of risky or poor loan performance due to collateral fraud, early payment default, or other associated mortgage risk. The report also includes pertinent actionable items to efficiently direct review efforts in the verification of findings or recommended due diligence.
"We've taken the CIA score to an entirely new level," said CEO Darius Bozorgi. "This is a more predictive and efficiently useful report than anything else on the market and substantially more comprehensive than our existing TQ Score. We're taking what we started with TQ Score and building in greater market risk metrics and additional factors relating to the subject property. The Collateral Integrity Analysis report is Veros' answer to requests for a collateral score."
In the past, Lenders have been forced to rely almost exclusively on either abnormal home price deltas or unusual foreclosure activity as the sole indicators of fraudulent activity or perceived mortgage risk. In reality, many other factors significantly affect the integrity of the collateral side of the risk equation. Equally important is the issue of false positives. According to Bozorgi, while lenders are absolutely concerned with eliminating or mitigating losses due to fraud, dealing with the high expense and opportunity costs associated with high false positive rates can also be extremely costly.
"Our report is far more granular than anything the market has previously seen, but that's only one important aspect of the product," Bozorgi said. "At the end of the day, regardless of how much information you provide, these products will not deliver sufficient value if they are not consistently accurate. False positives are a major problem with many of the fraud tools available on the market. The accuracy we've built into CIA allows it to stand up as a robust solution to that problem and identify a broader spectrum of actual risk."
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, integrated into industry leading companies, are now 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 and secured valuations, fraud and disaster risk detection, portfolio analysis, forecasting and next-generation collateral risk management platforms. Veros is headquartered in Santa Ana, Calif. For more information visit www.verovalue.com. www.verovalue.com. |
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