SANTA ANA, Calif. – Dec. 11, 2012 – Veros, an award-winning industry leader in collateral valuation technology, enterprise risk management and predictive analytics, is pleased to announce that it has added the Realtors Valuation Model® (RVM) to its platform of solutions for the mortgage and investor market. RVM® is the product of Realtors Property Resource, LLC (RPR), a wholly owned subsidiary of the National Association of REALTORS®, and Lender Processing Services, Inc. (LPS).
“The AVM marketplace continues to introduce high-performance models,” says David Rasmussen, Veros’ senior vice president of operations. “These models are particularly important as the most recent update to the Interagency Appraisal & Evaluation Guidelines highlighted the need for thorough testing of all valuation methods of all varieties. Utilizing multiple AVMs according to performance is an efficient and effective approach to valuation. RVM is another high-performing model to add to our impressive list of available AVMs.”
Tricia McClung, RPR Vice President of Business Development, states, “The Realtors Valuation Model® was created to assist the housing market – from REALTORS® to investors – with improved analytics that enhance how properties are priced and evaluated. RVM® leverages a broad array of property information, including REALTOR® market data, for a comprehensive, current, and reliable valuation result. We are thrilled to be working with Veros to deliver RVM® to the industry.”
According to Rob Walker, Managing Director, LPS Applied Analytics, “We are pleased that Veros, a leader in valuation innovation, has joined our network of RVM resellers. RVM will offer Veros clients a broad array of property data that leverages direct REALTOR® input, as well as historical public records data, for an up-to-date, dependable and fully inclusive assessment.”
Veros will market RVM to its extensive client base as a standalone product as well as through its valuation management platforms: VeroSELECT and Sapphire.
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, Calif. For more information, please visit www.veros.com or call (866) 458-3767.
RPR, a wholly owned subsidiary of the National Association of REALTORS® incorporated in November 2009, is a nationwide database providing REALTORS® with extensive property data and analysis as an exclusive member benefit of NAR. RPR’s goal is to aggregate and deliver to its users a comprehensive database of information about all 147 million parcels of residential and commercial property in the United States. RPR is 100-percent owned, operated and controlled by the members of NAR. For more information about Realtors Property Resource, visit: blog.narrpr.com.
LPS (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation’s top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers an end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS’ servicing solutions include MSP, the industry’s leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries. Lender Processing Services is a Fortune 1000 company headquartered in Jacksonville, Fla., employing approximately 8,000 professionals. For more information, please visit www.lpsvcs.com.