LandSafe Offers 'Super' Automated Valuation Model Through Combined Appraisal Products

November 22, 2002

PLANO, Texas, /PRNewswire/ -- LandSafe, Inc., a premier national provider of real estate information and closing services, today announced a more complete and cost-effective automated valuation model (AVM) for mortgage lenders and brokers.

LandSafe Appraisal Services is providing a more comprehensive AVM by combining its ValueFinder(SM) and Frauditor(SM) products into a single report available for the same cost as one of the products previously ordered individually.

"In addition to returning the valuation and risk found by ValueFinder -- value, uncertainty factor and public record information on the property and comparable properties -- the new 'super' product includes Frauditor red flags for such potential problems as inflated value, property type mismatch or seller mismatch," said Greg Dennis, president and chief operating officer of LandSafe Appraisal Services, Inc.

LandSafe customers may order the enhanced AVM through -- the company's Internet portal for unified ordering -- or via direct XML integration with loan origination software. "As AVMs become increasingly important to the lending community for pre- qualifying, HELOCS, second mortgages and portfolio valuation, LandSafe is keeping pace with the demand for more complete information delivered at the highest possible speed," said Michael Faine, managing director, president and chief operating officer of LandSafe, Inc.

Founded in 1994, LandSafe, Inc., a subsidiary of Countrywide Financial Corporation (NYSE: CFC), provides high-value-added real estate closing services, using technology and automation to reduce costs.

Souce: LandSafe, Inc.

Contact ALTA at 202-296-3671 or [email protected].