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Veros Launches VeroFI to Enhance Collateral Risk Assessment Strategies
Monday Oct 25, 8:01 am ET
Veros Integrates VeroVALUE AVM into ClickFORMS Appraisal Software |
SANTA ANA, CA., Oct 25, 2004 - Veros Real Estate Solutions proudly introduces VeroFI, a true risk-based solution for collateral valuation. Combining Veros' predictive technology with variable collateral risk modeling VeroFI will quantify the potential valuation risk specific to a residential lending transaction. VeroFI provides immediate access to identify the feasibility of any user-provided residential property value (e.g owner's estimate, BPO, appraisal, or AVM). VeroFI provides users with the competitive advantage and increased profitability of accurate risk-based analytic tools.
"As the current state of technology advances, the mortgage industry continues to evolve toward various risk-based pricing strategies that have been successfully employed in other industries," stated Darius Bozorgi, president and CEO of Veros. "Our customers have repeatedly asked for solutions to increase the effective use of automated valuation tools and further understand collateral risk. We have answered the call."
VeroFI affords an organization the opportunity to evaluate and verify any estimate of value. VeroFI analyzes any user-supplied value, determines the variance from estimated market value, and identifies whether any deviation results in overvaluation or undervaluation risk. Lenders can now score any estimate of value whether for pre-qualification and origination purposes or other credit-risk, quality control, portfolio review or audit procedures.
Risk-based pricing strategies rely on technology to offer unlimited potential and greater effective use of automated solutions. Modern technology enables the real-time analysis of each individual business transaction creating the opportunity for customer specific pricing based upon the risks identified. Low risk customers benefit by the cost savings and high risk customers benefit by the increased options offered. Risk-based pricing strategies allow an organization to expand business opportunities while mitigating risk.
About Veros
Veros Real Estate Solutions, located in Santa Ana, California is shaping the future of mortgage technology through its continuous predictive technology leadership. Veros provides innovative solutions in automated valuations with meaningful confidence scores and the highest usable hit rates available for true value in any production setting. Veros currently delivers property valuations in 40 states and over 600 counties nationwide. In addition to its market leading valuations, VeroVALUE also generates property fitness analytics, fraud detection, price trend information, appraiser-assisted valuations, secured valuations, AVMs with photos, risk-based valuation scoring, and VeroFORECAST, an analytic tool that estimates future values and market stability. For more information about Veros, visit www.veros.com. |
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