|
|
|
 |
 |
Veros Announces Availability Of Propertywisesm Qualified Automated Valuation (Avm) Program Through The Veroselect Platform
- Program Powered by GMAC Residential Funding's Propertywise System Helps Mortgage Originators Reduce Exposure to Collateral Risk -
|
ORLANDO, FL., October 24, 2005 - Veros Real Estate Solutions, based in Santa Ana, California, has introduced an AVM certification program which offers GMAC Residential Funding Corporation's Propertywise Qualified AVM products. The Propertywise system is designed to help mortgage originators reduce cost and limit exposure to repurchase risk while improving service to borrowers.
Based on years of research, GMAC Residential Funding has established a proprietary method for choosing an AVM for each property called the Propertywise Qualified AVM system. The resulting value is provided by rules established and continuously maintained by GMAC Residential Funding. GMAC Residential Funding has conducted extensive analysis on the accuracy of AVMs and acceptance of AVMs in the secondary mortgage market. The Propertywise system is the result of that work. Propertywise products can be accessed through VeroSELECT, Veros' advanced collateral risk management platform. VeroSELECT allows clients to manage and control the full collateral valuation chain with a fully automated and truly scalable enterprise solution. GMAC Residential Funding has established favorable terms for the purchase of certain second mortgages sold to GMAC Residential Funding where the value of the collateral was established using a Propertywise Qualified AVM.
"We are excited to include GMAC Residential Funding's Propertywise certification as part of our next-generation collateral risk platform," said Darius Bozorgi, President of Veros. "Propertywise Qualified AVMs and VeroSELECT represent significant steps forward in the evolution of mortgage technology solutions for the accurate identification and management of collateral risk."
Veros Real Estate Solutions, a proven leader of technology solutions for the mortgage industry, combines the power of predictive technology, data analysis, and industry knowledge to create advanced collateral risk assessment solutions. Veros provides innovative products in automated valuations, fraud detection, secured valuations, forecasting, and a state-of the-art collateral risk management platform. Veros is headquartered in Santa Ana, California. For more information visit www.verovalue.com.
Propertywise is a service mark owned by Residential Funding Corporation, and is used here by permission. |
| |
|
|
 Return |
| |
| |
 |
|
|
