Veros Tools Align With Freddie Mac Seller/Servicer Update

Posted by Orb Staff on July 15, 2009 No Comments
Categories : Residential Mortgage

Real Estate Solutions, a provider of enterprise risk management and property valuation services, has announced its full compliance with Freddie Mac's updated seller/servicer guide. The July 10th Freddie Mac update references continued underwriting process deficiencies related to asset verification, appraisal quality and liability calculation. Freddie Mac is taking strides to promote sound underwriting and appraisal practices and has updated its Single-Family Seller/Servicer Guide requirements with new policies and recommendations. Among the best practices is a push for lenders to utilize automated valuation models (AVMs) and other tools as part of the origination or pre-funding quality control process to detect fraud and objectively measure the accuracy of appraisals. Veros confirms its risk management platform, VeroSELECT, is fully aligned with Freddie Mac's goals and will provide an efficient means for lenders to achieve investment quality. VeroSELECT provides access to a range of collateral risk solutions, including property information, AVM products (including Freddie Mac's HVE model), broker price opinion services, appraisals, collateral fraud tools, prequalification solutions, and hybrid products and services. "A key benefit of VeroSELECT relating to the recent Guide update is the ability to pull individual AVMs, or to build, run and audit proprietary or third-party AVM cascades and compare them to appraisals ordered through the valuation management system from any number of providers," says Darius Bozorgi, president and CEO of Veros. SOURCE

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