LenderX has launched a strategic partnership with Veros Real Estate Solutions (Veros), a provider of 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.”
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