Veros expands AVM platform

March 5, 2004

New product unites AVM with digital photo, property condition report

Inman News

Veros Software on Tuesday announced the launch of VeroPHOTO+, an automated collateral assessment product that unites the VeroVALUE AVM with a digital photo of the subject property and an external property condition report completed at the time of the AVM order.

VeroPHOTO+ reports are delivered within 24-48 hours of placing the order and are automatically attached to the VeroVALUE AVM report produced at runtime. Supplemental options include interior photographs and condition reports of the subject property, street scenes, and photographs of nearby recent area sales.

"VeroPHOTO+ provides further verification of the current physical condition of properties that are the subject of an AVM or other collateral assessment", stated Darius Bozorgi, president and CEO of Veros. "It was important to us that the photographs and condition reports be generated at order time. Just like any AVM, photographs that are not current provide customers lesser value when they need to know the status of a property today."

VeroPHOTO+ is available nationwide and may be ordered on individual properties, as well as portfolios of properties. The product is offered on a fully automated basis and is integrated into Veros' Web-based ordering systems. Veros will complete full XML availability to VeroPHOTO+ in the second quarter of this year.

Irvine, Calif.-based Veros Software is a mortgage technology company that delivers property valuations in 40 states.

Copyright: Inman News Features

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