SharperLending updates loan origination platform
Lenders can access 11 warranted AVMs through a bundled services model
By Inman News, Monday, March 15, 2004.Inman News®
SharperLending, which provides a secure Web-based platform for lenders to order, store and manage mortgage products from multiple vendors, added AVM Plus to its loan origination platform. AVM Plus is a combination of technology and industry-specific errors and omissions (E & O) insurance that allows lenders to use workflow to automate the ordering of automated valuation models.
Through AVM Plus, lenders can select from 11 AVM providers to accurately assess the collateral value of residential property as security for mortgage loans and to determine loan-to-value ratios. AVM Plus aims to move the property through selected valuation models based on the lenders' preferences to receive the highest hit ratio within seconds.
AVM Plus is specific for originations, re-finances or equity mortgages and is available for a variety of loans from conforming to sub-prime. The AVM reports ordered through the platform carry an industry-specific E &O policy that guarantees the accuracy of the report for the life of the loan.
AVMs represented through the AMV Plus platform include Home Value Explorer (HVE), Veros (VeroValue), Combined AVMs, Basis100, Case-Schiller Weiss (CASA), LandSafe (Value Finder), Value Wizard, Net Value, PSAR , SiteXValue and HPA 2000.
Spokane, Wash.-based SharperLending LLC offers Internet-based mortgage credit reporting and loan origination systems.
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