LenderX Teams Up with Veros Real Estate Solutions to Provide Advanced AVM Products

Sep 6, 2023

Dallas, Texas: September 6, 2023 – LenderX, a leading innovator in the lending industry, has launched a strategic partnership with Veros Real Estate Solutions (Veros), an industry leader in enterprise risk management and collateral valuation services.

This strategic collaboration marks a significant milestone in the LenderX commitment to delivering innovative solutions that empower well-informed decision-making processes. The fusion of Veros’ expertise in the AVM domain with LenderX’s dedication to excellence will provide partners and clients with unparalleled insights and precision in property valuations.

Through this partnership, users can expect:

  • Advanced AVM Products: Access an expanded array of AVM products that harness Veros’ cutting-edge technology and data analytics, enabling users to make informed lending and investment decisions.
  • AVM Model Governance: Veros commits to a robust AVM governance process, subjecting AVMs to ongoing internal and external third-party model testing and governance. Additionally, Veros offers the creation of model preference tables to support diverse loan programs and geographical nuances. Clients can also use the VeroSELECT system to Cascade AVMs, enhancing flexibility and customization.
  • Enhanced AVM Accuracy: Veros is known for valuation reliability. The Veros AVMs stand out as one of the select seven AVMs evaluated by Fitch Ratings for Forecast Standard Deviation (FSD) thresholds in US RMBS transactions.
  • Fair Valuations: Veros has conducted two research reports that identify that VeroVALUE is not only accurate but fair for borrowers.
  • Streamlined Processes: LenderX has worked closely with Veros to ensure a seamless and configurable ordering process for both single and bulk AVM orders. Leveraging automation, LenderX aims to enhance operational efficiency and deliver a frictionless experience to its valued clients.

 “Our ongoing commitment to innovation, integrity, and delivering exceptional service remains at the core of LenderX. This strategic alliance empowers us to offer cutting-edge AVM products that elevate accuracy, compliance, and efficiency in the lending process. This partnership will undoubtedly bolster our capacity to meet and exceed our clients’ unique needs and expectations,” affirms Randy Favero, Chief Executive Officer of LenderX.

“The collaboration between Veros and LenderX signifies a remarkable advancement in property valuation services,” remarks Chuck Rumfola, Executive Vice President, and Chief Revenue Officer at Veros Real Estate Solutions. “Merging our industry-leading expertise with LenderX’s client-centric approach positions us to deliver enhanced AVM products, empowering industry stakeholders with unparalleled insights and precision in property valuations.”

This partnership exemplifies a shared commitment to driving innovation and providing solutions that catalyze positive industry evolution. To learn more about the steps to get started, please contact LenderX at sales@lenderx.com.

About LenderX, LLC

LenderX develops cloud-based software for streamlining all aspects of residential real-estate valuations and inspections, improving performance and experience for lenders, appraisers, borrowers, servicers, and investors. With access to market-leading networks of appraisers, staff appraisers, appraisal firms, AMCs, and inspectors, LenderX allows lenders to utilize the most advanced field and digital products, and quickly implement new investors programs designed to lower turn times and collateral risk. All this is backed by the most experienced and dedicated support team in the mortgage business. For more information, visit http://lenderx.com or call 414-299-7500.

About Veros Real Estate Solutions (Veros)

A mortgage technology innovator since 2001, Veros is a proven leader in enterprise risk management and collateral valuation services. The firm combines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that control risk and increase profits throughout the mortgage industry, from loan origination to servicing and securitization. Veros’ services include automated valuation, fraud, and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal® (UCDP®). Veros also works closely with the FHA to support its Electronic Appraisal Delivery (EAD) portal. The company is also making the home buying process more efficient for our nation’s Veterans through its appraisal management work with the Department of Veterans Affairs. For more information, visit www.veros.com or call 866-458-3767.

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