Lenders using Calyx Software's Point loan origination system (LOS) can now instantly access Veros Real Estate Solutions' VeroVALUE and other automated valuation models (AVMs) right from within the Point interface, thanks to a new integration, the companies announced.
The integration means Point users can now also access formulated AVM cascades offered through Veros that use popular industry AVMs from other companies in succession to increase user hit rates.
Dennis Boggs, executive vice president, business development, for Calyx Software says it is the accuracy delivered by VeroVALUE that made the integration a no-brainer. He says in speaking with users of the AVM, he learned that they appreciated ‘Veros' conservative approach.’ The users told him that the AVMs offered by other vendors ‘didn't apply any standard deviation, and their results were all over the place – up to 30% off compared to the appraised values.’
‘With the new VeroVALUE interface, users will now have improved ease in ordering from within Point, save time by not having to re-enter data and have the value returned in a PDF file that is automatically saved in Point's Document Storage,’ Boggs adds.