Veros Launches Next Generation Automated Property Valuation Software

Online Service Provides Fast, Accurate and Consistent Residential Property Valuations for Mortgage Lenders and Other Real Estate Professionals

IRVINE, California –   Veros Software, Inc., a leading predictive technology software company, announces the release of its automated property valuation software, VeroVALUE v1.2, with complete coverage and service in the state of California. VeroVALUE (www.VeroVALUE.com) is web-based software that provides valuation information on single family residential properties.

"California is first in Phase I of our plan to provide coverage across the United States,” explained Darius Bozorgi, CEO and co-founder of Veros.  “We are working on releasing many other states and jurisdictions including Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, North Carolina, Ohio, South Carolina, Texas, Virginia, Washington, and the District of Columbia.” The first phase of coverage for VeroVALUE will be completed by the beginning of the year. In Phase II, expected to be completed by the end of 2002, VeroVALUE will provide home valuations for the remainder of the U.S.

VeroVALUE’s accuracy is achieved by leveraging the strengths of numerous automated valuation models (“AVMs”), each using the latest advances in predictive technology.  Unlike competing AVM’s, VeroVALUE is not limited to only a few basic methods, but combines all of its valuation models in one software package in order to leverage the strengths of each method for a given property. The result is a highly accurate and consistent property valuation machine.

"We have two requirements for VeroVALUE: first, it has to be accurate, and second, it has to be easy to use", according to Brooks Ballentine, Director of Real Estate Solutions at Veros. "Our software is web-based and completely platform independent. We provide VeroVALUE as an ASP application so upgrades are available immediately to our customers with no additional cost.”

Veros Software, Inc. (www.veros.com) located in Irvine, California, is a predictive technology company focusing on software that incorporates all the best predictive technologies into decision support applications, allowing customers to formulate accurate and informed business decisions that directly impact their bottom line. Veros combines advanced proprietary technology with available data and industry expertise to create the most advanced form of enterprise analytics software. Veros real estate solutions streamline lending decisions with fast and accurate home valuations, risk assessment and fraud detection software tools.