1 Source
Data Adds Quick Value AVM Services to its Funding Tools
Software Suite Access to low cost property valuations integrated
into credit access system
SAN DIEGO, CA (September 13, 2003) – 1 Source Data,
which provides technology and services to the financial
lending industry, announced today that it has integrated
Quick Value AVM Services into its Funding Tools Software
Suite. Providing retail and wholesale lenders with instant
web based property appraisals, the two Quick Value modules
offer busy mortgage lenders an opportunity to cost-effectively
conduct and audit collateral valuations, just by entering
a property address.
Value Comp is a comprehensive property report that includes
a property valuation with confidence scores; sales history
and analysis to detect abnormal sales activity or “flipping”;
recent comparable neighborhood sales information (comps);
market and area price trend information; and, a 12-month
value forecast. Quick Comp, the most cost effective solution
available, instantly provides property values and neighborhood
comps. Both modules are fully integrated with 1 Source Data’s
Funding Tools, so property values are conveniently integrated
into the borrower's file.
“Driving down the cost of collateral valuation benefits
both the borrower and the lender,” said John Merrill,
1 Source Data’s President. “When refinancing a
home, funding may be delayed by 7-10 days while everyone
waits on the appraisal. Since the accuracy is so high, many
lenders can accept either Value Comp or Quick Comp, meaning
our AVM reports lower the consumer’s out of pocket
costs and gets them funded faster. Ultimately, it helps
our clients provide even better service to their borrowers
and ideally gives them a richer referral business.”
About 1 Source Data
Headquartered in San Diego, California, 1 Source Data is
a leading provider of integrated technology and service
solutions for the financial lending industry. Technology
solutions include Origination Tools, an integrated Internet
based platform to support fast, accurate credit decisions;
Virtual Loan Agent, an Internet-based credit decision making
tool for automatic consumer finance loan approval and Credit
Analyzer, simulation software to help lenders improve consumer
credit scores. Service offerings include quickly removing
erroneous credit information from borrower files, income
verification for self-employed borrowers and same-day trade
line verifications. 1 Source Data’s technology handles
more than 800,000 new borrower files a month and is used
by hundreds of lenders across the nation.
View/print more information
on 1 Source Data’s Quick Value AVM Services.
MORE NEWS...
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1 Source Data and First
Lenders Data Announce Partnership with
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10.01.2003
1 Source Data Adds Credit
Analyzer Re-Score Simulator to its Origination Tools Software
Suite
09.13.2003
1 Source Data Adds Quick Value
AVM Services to its Funding Tools Software Suite
04.04.2003
1 Source Data Adds Notary Management
to its Software Suite
01.13.2003
1 Source Data Adds Value Comp
to its Funding Tools Services
12.09.2002
1 Source Data Forms Partnership
With RealEC™
11.26.2002
1 Source Data Releases Origination
Tools Version 5.0
