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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.
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 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, California. To order the VeroFORECAST update or receive information on other Veros analytic products and systems, visit www.veros.com or call (866) 458-3767.
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