IRVINE, CA., October 20, 2003 – Veros Software, an industry leader in advanced mortgage technology introduced truly secured property valuations. VeroVALUE Secured warrants the accuracy of the AVM valuation for a faster, more efficient, and less expensive alternative to traditional collateral valuations. In the event of a loss due to valuation error, VeroVALUE Secured provides true protection backed by insurance companies with a minimum A rating or higher from A.M. Best.

Click to view a sample valuation report for VeroVALUE Secured Learn more about the Collateral Valuation Products offered by Veros

Veros offers secured valuations in direct response to industry demand for greater accuracy and quicker turnaround times for mortgage loan decisions. VeroVALUE Secured allows lenders and investors to utilize the accuracy and speed of VeroVALUE while further mitigating potential risk.

“The industry has seen significant improvements in the AVM arena within the last two years but none may have the impact as the introduction of secured and guaranteed automated products,” stated Darius Bozorgi, President and CEO of Veros Software. “Veros is proud to match the accuracy of VeroVALUE with leading insurance carriers.  The result, VeroVALUE Secured, will dramatically increase flexibility, speed, and security of collateral valuation.”

VeroVALUE Secured is not restricted to limited protections found in many appraisal E&O policies. Instead, VeroVALUE Secured is specifically designed to backup the statement of value for true underwriting security. There are no loop holes, fine print, or headaches.  Veros provides immediate access, not paperwork, to a streamlined claims process.

VeroVALUE Secured valuations are available for 1st purchase origination, home equity, lines of credit, and other 2nd lien positions. “We offer previously unavailable FICO thresholds, high LTVs, flexible coverage limits, and no deductibles for true security across multiple carriers,” stated Bozorgi. VeroVALUE Secured is available on individual properties, portfolios or loan pools with no requirement of a physical inspection. Each secured valuation is completely transferable and fully customizable to meet specific requirements including sub-prime or near-prime programs.

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.