SWBC Lending Solutions™ Boosts its Valuation Service Offerings With Powerful AVM Products from Veros® Real Estate Solutions
Santa Ana, Calif. – September 12, 2018 – Veros Real Estate Solutions (Veros®), a leading developer of enterprise risk management, collateral valuation and predictive analytics services, and SWBC Lending Solutions™, which provides cost-effective and compliant lending products for originators, loan servicers, and portfolio managers, have partnered to provide complete, end-to-end collateral valuation and analytics services.
Texas-based SWBC Lending Solutions, a subsidiary of SWBC, will now offer Veros' AVM solutions, including the company’s proprietary VeroVALUESM suite and the breakthrough VeroPRECISION™ valuation decision engine, for all mortgage industry participants seeking to maintain valuation accuracy, while cutting costs and increasing operational efficiencies.
"SWBC Lending Solutions has a stellar reputation for providing comprehensive services and solutions that touch every stage of the mortgage lifecycle and, with the addition of Veros as a preferred supplier, they will now have the ability to offer even greater benefits to their customers,” said Veros President and CEO Darius Bozorgi. “We look forward to working with the SWBC team and to leveraging our innovative products, compliance expertise and outstanding customer service to support their business objectives, as well as those of their valued customers.”
"We are thrilled to have partnered with Veros Real Estate Services,” said Ted Robinson, Chief Executive Officer of SWBC Lending Solutions. “They are the leader in AVM modeling and technology, and our customers will benefit greatly from these innovative products.”
In addition to providing innovative products and services, Veros also employs a unique approach to its partnership relationships.
"While some valuation service providers actually compete directly with their partners, Veros is committed to supporting our partners completely and providing them with the resources they need to succeed,” said Robert Walker, CMB, CMT Vice President of Sales at Veros. “Our sales and support personnel serve as an extension to our partners’ teams, providing them with the resources they need for optimal efficiency and profitability.”
“SWBC Lending Solutions is excited to expand our customized offerings to our clients for their lending segment needs,” said Guy Taylor, President of SWBC Lending Solutions. “Our integration with Veros provides SWBC Lending Solutions’ clients access to Veros’ proprietary VeroVALUE™ suite and the VeroPRECISION™ valuation decision engine, without the client needing to build a separate integration. The ability to offer these additional products through our existing integrations with our clients will maintain their operational efficiencies and allow the client additional solutions.”
ADDED BENEFIT FOR HOME EQUITY LENDERS
Veros has built a reputation for competitive pricing, quality of service, and a suite of multifaceted AVM products that deliver best-in-class accuracy and hit rates. In 2017 the company introduced VeroPRECISION™, a valuation-decisioning engine geared to save time and money by determining upfront whether or not an AVM is a viable valuation solution. The service quickly proved especially valuable for home equity lenders.
By adding VeroPRECISION to its product line, SWBC now offers next-generation AVM decision logic technology. In cases where VeroPRECISION instantly deems a property appropriate for AVM valuation, those customers will immediately receive one of the industry’s top performing AVMs. Based upon machine learning in a production environment, the VeroPRECISION decision engine determines the most accurate valuation at the subject property level.
"Veros has long been a leader in the AVM space and with the recent introduction of VeroPRECISION, we now offer a solution that identifies upfront if an AVM is viable,” Walker said. “Independent testing shows that while 70 to 80 percent of property valuations are accurately valued by the industry’s high-quality AVMs, the balance requires hands-on analysis through an alternative, such as a desktop, drive-by or traditional appraisal."
Veros' comprehensive suite of valuation solutions is available through VeroSELECTSM, its vendor-agnostic, single-enterprise management platform. VeroSELECT provides access to more than 25 innovative collateral risk solutions from 15-plus vendors, helping lenders best assess collateral values at origination and across existing portfolios. In addition to VeroPRECISION and all VeroVALUE products, the platform also includes appraisal and evaluation services, AVM Cascade Management, Broker Price Opinions, Property Condition Reports, and Veros’ proprietary, best-in-class valuation forecasting tool, VeroFORECAST™.
For more information on VeroPRECISION, visit www.veros.com/what-we-offer/tools/veroprecision.
About Veros Real Estate Solutions
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 also the primary architect and technology provider of the GSEs’ Uniform Collateral Data Portal (UCDP). For more information, visit www.veros.com or call 866-458-3767.
About SWBC Lending Solutions™
SWBC Lending Solutions provides cost-effective and compliant lending products for originators, loan servicers, and portfolio managers. With products specifically designed for each lending segment, Lending Solutions provides an end-to-end solution designed to maximize efficiency while ensuring compliance in today’s regulatory environment. SWBC Lending Solutions is a Morningstar Credit Ratings, LLC, Residential Valuation Ranked Company. For more information, visit swbc.com.
As a diversified financial services company, SWBC provides financial institutions, businesses, and individuals a wide range of insurance, mortgages, wealth management, employee benefits, and more. Headquartered in San Antonio, Texas, SWBC has partners and divisions across all 50 states and manages business around the world. No matter how wide its reach, SWBC always listens to our customers’ needs, analyzes their current situations, and recommends customized solutions. For more information about our innovative approach to personalized service, visit SWBC’s website at swbc.com.