Veros Real Estate Solutions, a provider of enterprise risk management and collateral valuation services, has been selected by Fannie Mae as the technology provider for Fannie Mae's Collateral Data Delivery (CDD) system.
Beginning March 1, 2010, Fannie Mae will require its lenders to submit full appraisal reports in electronic data format prior to loan delivery. In collaboration with Fannie Mae, Veros will be responsible for building, maintaining and supporting the CDD system, as well as handling direct lender integrations with the CDD system.
The implementation of CDD will enable a data-centric approach to better understanding collateral risk, Veros says. In support of Fannie Mae's requirements for appraisal-data submission, Veros is collaborating with Fannie Mae to provide lenders with flexible alternatives to connect to CDD via a direct system-to-system XML integration or via a Web-based portal through which appraisals can be submitted either individually or in bulk.
SOURCE: Veros Real Estate Solutions