new to market
Interthinx releases ValueGUARD risk assessment tool
continued from page 36
portfolios have led to an increase in lenders’ and servicers’ use of alternative valuation methods, which save time and costs when a full appraisal is not yet necessary. Like traditional full appraisals, desk appraisals are completed by a local licensed or certified appraiser and are based on the same logic as a traditional full appraisal. A traditional appraisal, however, includes a full interior and exterior inspection of the property, while a desk appraisal does not. “ValueSafe has been the big rave among our lender beta testers—they couldn’t imagine getting a quick accurate valuation by a local certified appraiser and not having to worry about paying double if they needed a full appraisal,” said Coester. “At Coester, our focus is on bringing value to our clients and the industry. We’re fortunate to have a team of very talented professionals, so thinking outside the box is completely natural for us. While other AMCs are still struggling with the status quo, we’ll continue to introduce innovative solutions. ValueSafe is a prime example of a solution that benefits the lender, borrower and appraisal industry. We’re excited to be helping to rebuild trust for appraisal management companies among the lending community.” For more information, visit www.coesterappraisals.com.
Credit Plus releases new suite conforming with Fannie Mae’s Loan Quality Initiative Credit Plus Inc. has announced that it is offering a suite of products to help lenders comply with Fannie Mae’s Loan Quality Initiative (LQI) suggestions and requirements. As of June 1, mortgage lenders must have processes in place to meet Fannie Mae’s LQI Lender Letter LL-2010-03. Fannie Mae will implement additional LQI enhancements throughout the year. It has developed these suggestions and requirements with a focus on capturing and verifying critical loan data earlier in the process to reduce repurchase requests to lenders, which have increased dramatically in the past few years. “Our focus at Credit Plus remains on developing tools that make the mortgage process easier for lenders,” said Greg Holmes, national director of sales and marketing for Credit Plus. “New rules and regulations are constantly being put into place. We work diligently to help keep lenders compliant. Our suite of products assists lenders with pre-closing and post-closing initiatives.” For more information, visit www.creditplus.com.
Interthinx has announced the release of ValueGUARD, an automated collateral risk solution that revolutionizes the way property, neighborhood and market area risk can be assessed by lenders and investors. ValueGUARD identifies potential risk associated with the current value of a property and the potential risk of future value deterioration. “Based on history and a meltdown none of us will forget, it’s important for lenders and investors to re-evaluate current collateral risk mitigation processes and embrace innovation,” said Mark Chapin, chief valuation officer for Interthinx. “ValueGUARD considers risk associated with the subject, neighborhood, and market—not just a single value. Only ValueGUARD incorporates MLS data, offers retrospective capabilities, and provides a transparent scoring model. With these exciting developments, the industry no longer needs to accept antiquated collateral risk tools.” The collateral risk solution provides revolutionary analytics within a layout optimized for ease of use. Along with the option of integrating iAVM Plus, a market AVM (automated valuation model), an “alert-based and transparent scoring” streamlines collateral evaluation by identifying high-risk properties and guiding further under-
writing processes. The solution also enables servicers to gain a better understanding of the valuation risk associated with their portfolios. “ValueGUARD transforms the collateral risk market,” said Kevin Coop, president of Interthinx. “We are expanding our expertise in collateral risk mitigation by offering a critical solution with valuable data and intelligent design. I look forward to the market’s reception, as early feedback indicates the product addresses a growing need for more accurate collateral risk analysis using both historical and current market conditions.” For more information, visit www.interthinx.com.
Informative Research announces solution to meet Fannie Mae’s LQI requirements Informative Research has developed a solution to meet Fannie Mae’s June 1 Loan Quality Initiative (LQI) requirements, designed to “promote loan delivery data that is complete, accurate and fully reflective of the terms of the mortgage” including the requirement to evaluate all debts of the borrower up to the closing of the loan, and to review and evaluate the “inquiries” section of the credit report. Informative Research’s “PreCloseCredit” continued on page 40
39
The SAFE-Smart Strategy:
1. Take Class Live Online Don’t drag it out. Live PE or CE class for 1 or 2 days with a powerful instructor.
3. 3. Pass The Test and get on with Originating Get SAFE-Smart with Abacus
888-341-7767 visit GetYourEd.com call
JULY 2010
Mortgage Training and Education
Exam Cram Quiz Trainer questions from students asked/answered: 876,436
MORTGAGE PROFESSIONAL MAGAZINE
Individual or group attendance. No webcam required. Full interaction. Advanced materials.
NationalMortgageProfessional.com IDAHO
2. Slam The Exam Cram Drive your practice quiz scores to 100%