Santa Ana, California-based Veros Real Estate Solutions has announced full compliance with the newly released Fannie Mae standard for submission of Electronic Appraisal Reports. Lenders using Veros’ Valuation Risk Management (VRM) system for internal ordering, tracking, and reviewing of appraisals will now have a direct and seamless connection to deliver those appraisals electronically to Fannie Mae.
While lenders can choose to individually submit appraisals via Fannie Mae’s web portal, Veros’ VRM platform will provide direct MISMO XML integration with the Fannie Mae system to facilitate the efficient flow of the electronic appraisal data. VRM provides lenders with automated access to order, track, and review each appraisal using standard or customizable QC rules and ultimately electronically deliver or catalog the appraisal in any required format.
Darius Bozorgi, President and CEO of Veros, said: “We want all lenders who sell to Fannie Mae to be aware of the new electronic appraisal requirement and immediately have access through Veros’ unique and seamless connection. We share Fannie Mae’s goal of improving overall loan quality and we believe we are in the best position to help lenders in that regard.”
Veros Real Estate Solutions, a provider of enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. It also provides solutions to control risk and increase profits including automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms.
