Veros Updates VRM To Automate Servicer Processes

Posted by Orb Staff on March 01, 2010 No Comments
Categories : Mortgage Servicing

Veros Real Estate Solutions has added new capabilities to its Valuation Risk Management (VRM) platform that the company says help to automate several manual processes.

Currently, servicing personnel must take manual steps to determine that valuations are timely and accurate, as well as interpret results, trends and overall quality of the information received, Veros says. The VRM platform automates these processes and adds additional layers of valuation analysis that Veros says enhance decision-making capabilities when dealing with delinquencies, structuring modification alternatives and formulating payment-plan scenarios.

"Any valuation product, whether a full appraisal, an [automated valuation model] or a [broker price opinion], can be ordered at set delinquency milestones with criteria based on rules that authorized users can customize as needed," David Rasmussen, Veros' senior vice president of sales, explains. "Their criteria can include virtually any variable, such as property type, price tier, location or even routing preference."

VRM's analytics can be automated, as well, Rasmussen adds, noting that valuations can be tied to Veros' Collateral Integrity Analysis report, which provides market risk data and analysis.

"This capability is becoming increasingly valuable, as servicing clients are seeing the need to pull valuations more frequently in step with rising delinquencies and look more closely at their exposure to collateral risk," he says.

SOURCE: Veros Real Estate Solutions

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