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F.R.E.D. Joins National Real Estate
Thursday, May 15, 2008
NREIS Introduces 'Fast, Reliable, Electronic Data' Portal to Provide AVM's
PITTSBURGH, May 15 /PRNewswire/ -- National Real Estate Information
Services (NREIS), one of the country's largest, privately-held vendor
management companies, introduces F.R.E.D., its "Fast, Reliable, Electronic
Data" interactive web portal. This new service provides mortgage originators
of any size the ability to order automated valuation models (AVM's) through a
self service website.
F.R.E.D. gives lenders and brokers the ability to input requests
individually or to bulk upload several orders at once. Individual orders are
available on-screen immediately. Bulk orders are accessible as they process
and an email notification is sent upon order completion. An experienced
Alternative Valuation Specialist is available to help users customize their
AVM cascade based on multiple criteria such as cost and coverage area. The
platform offers a matrix of sixteen decisioning models from the industry's
most trusted providers, and unique cascading tools for hard-to-find
properties, providing users with maximum control for setting and editing
criteria. F.R.E.D.'s cascade models allow flexibility on a variety of loan
amounts, lien positions and property types.
"F.R.E.D. benefits our customers by making the AVM process more convenient
and affordable," said Michael E. Forgas, President and COO of National Real
Estate. "Without the need for contracts or volume commitments, mortgage
originators of all sizes can decrease costs and reduce risk by leveraging the
benefits of industry-leading AVM reports."
The F.R.E.D. web portal has an easy to use interface, and is designed to
be used by lenders of any size, allowing small to medium sized lenders to
compete favorably with the biggest originators. A user can sign in to the
site, input an address and receive a report in seconds.
NREIS also offers a warranted valuation product, SUREvalue. This
proprietary warranty product allows flexibility on the widest variety of loan
values, lien positions and property types. SUREvalue is structured to cover
overvaluation losses, including foreclosure-related expenses.
Learn more about F.R.E.D. at http://www.nreisFRED.com.
About NREIS
Over the last 26 years, NREIS has supported both the residential and
commercial mortgage and real estate industries through a custom service model,
easy-to-use technology, and comprehensive products. NREIS' products and
services include title insurance and property reports, real estate appraisals
and alternative valuation products, settlement and closing services, property
preservation and asset management, and flood and tax certifications. For more
information, visit http://www.nreis.com.
SOURCE National Real Estate Information Services
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