Veros Unites Automated Valuation Technology with Appraisal Professionals
October 20, 2003 8:32
am PST
IRVINE, CA. (Oct 20, 2003) - Veros, the
industry leader in delivering Automated Valuation solutions, today announced the
availability of VeroVALUE Professional, a web-based appraiser-assisted AVM that
combines the speed and accuracy of the VeroVALUE AVM with the experience and expertise
of a local real estate professional.
"VeroVALUE Professional is a powerful
solution that bridges the gap between the technology of automated valuation models
and the human appraiser," stated Darius Bozorgi, President and CEO of Veros Software.
For properties that do not require a traditional full appraisal yet still need human
intervention to mitigate risk, VeroVALUE Professional is the solution.
Real estate professionals are presented
with several options including confirmation of the AVM generated value, upgrading
to a traditional valuation service such as a full appraisal, or a desktop analysis.
VeroVALUE Professional is a fully USPAP compliant valuation product.
“Certain forces in the industry have
represented AVMs and appraisers as rivals,” commented Bozorgi. “At Veros, we have
never believed the two groups to be at odds. Both appraisers and AVMs play a necessary
and valuable role in collateral assessment.”
In addition to its appraiser-assisted
AVM, Veros offers a host of valuation tools for the appraiser. For example, Veros’
time trend analysis provides support for market and other adjustments, in traditional
appraisal products. With the release of VeroVALUE Professional, Veros continues
to improve risk-management decisions critical to the success of the lending and
investment community.
Veros Software (
www.veros.com ) located in Irvine, California is shaping the future of mortgage
technology through its continuous predictive technology leadership by providing
innovative solutions in automated valuations with meaningful confidence scores and
the highest usable hit rates available for true value in any production setting.
Veros currently provides valuations in 40 states and over 600 counties nationwide.
In addition to its market leading valuations, VeroVALUE also generates property
fitness analytics, fraud detection, price trend information, secured valuations,
and VeroFORECAST, an analytic tool that estimates future values and market stability.
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