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Veros Releases Enhanced Risk Management Solution

California-based Veros Real Estate Solutions (Veros) has released an enhanced, data-rich version of its VeroSCORE appraisal risk management solution. VeroSCORE, which already provides intelligent, automated and virtually instantaneous analysis of appraisal reports and associated risk factors, now has a new revamped design that displays additional validations such as public record data and appraiser licensing and eligibility checks.

"This represents a new standard for the appraisal industry that really addresses collateral risk," said Benjamin Smith, VP of Valuations at Veros. "These latest enhancements have added more intelligence and greater effectiveness to an already invaluable analytical tool and will help lenders and appraisal management companies comply with the GSEs’ ‘zero defects’ inspection mandate."

Other features have been added to further identify risk, including street views of subject properties, dynamic mapping, comparable sales, and AVM values for neighboring properties. All can be viewed online with zoom-in capability, mapping and pinpointing.

"As an automated appraisal scoring tool VeroSCORE facilitates more informed decisions based on a solid determination of collateral value,” said Luke Ziegenmeyer, Director of Product Management at Veros. "The enhanced report is now easier to use, providing more data than before at a fraction of the cost of most competing offerings."

Veros originally built VeroSCORE from the ground-up using proprietary risk assessment algorithms and a multi-faceted rules engine that would provide appraisal-scoring technology that helped mortgage lenders, servicers, investors and appraisal management companies (AMCs) make faster, better-informed decisions regarding collateral value.

The company has said that when the government-sponsored enterprises (GSEs) began requiring a quality-assurance strategy for pre-funding appraisals, lenders and vendors needed to thoroughly inspect appraisal reports for zero-defects, and VeroSCORE was in place to provide the perfect solution.

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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