Risk Management System Meets Fannie Mae E-Requirement

Posted by Orb Staff on June 09, 2009 No Comments
Categories : Residential Mortgage

Real Estate Solutions says it is fully compliant with the newly released Fannie Mae standard for submission of electronic appraisal reports. Lenders using Veros' Valuation Risk Management (VRM) system for internal ordering, tracking and reviewing of appraisals will now be able to deliver the appraisals electronically to Fannie Mae. Per Fannie Mae Announcement 09-14, effective in early 2010, Fannie Mae will require all necessary appraisal reports and their addenda to be submitted electronically in the MISMO XML standard. Veros' VRM platform will provide direct MISMO XML integration with the Fannie Mae system to facilitate the flow of the electronic appraisal data. "We're excited VRM now provides the direct connection into the Fannie Mae system and VRM system users may electronically submit appraisals without incurring additional cost, integrating with other systems, or requiring extra effort," says Veros President and CEO Darius Bozorgi. SOURCE: Veros Real Estate So

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