Veros Platforms Named on UCDP Vendor List; Ready to Support Industry

(Vocus/PRWEB) April 15, 2011

Veros Real Estate Solutions (Veros), an industry leader in enterprise risk management and collateral valuation services, has announced that its VeroSELECT and Valuation Risk Management (VRM) platforms are fully functional and ready to help lenders in all aspects of ordering, managing and delivering appraisals through the Uniform Collateral Data Portal (UCDP). Additionally, they will accept and process appraisals compliant with the Uniform Appraisal Dataset (UAD). These initiatives are part of the GSEs Uniform Mortgage Data Program (UMDP), a strategy to standardize and drive data quality to benefit the entire mortgage industry.

Fannie Mae and Freddie Mac (GSEs) announced Wednesday that UCDP will be live on June 27, 2011. According to the GSEs, appraisal report forms for all conventional mortgage loans delivered on or after March 19, 2012, must be submitted to the UCDP before the delivery date of the mortgage if the loan application is dated on or after Dec. 1, 2011 and an appraisal report is required. Veros and its related platforms have been named as approved solutions that enable the submission of electronic appraisal data to UCDP.

The key to a good experience with UCDP is for lenders to get on board early and not wait until March 2012 to begin utilizing the program, said Chris Gowen, sales vice president at Veros. There is significant pre-work that needs to be accomplished in order to meet all GSE requirements. Having access to the system now provides opportunity for the necessary internal testing and process changes lenders need to work through to ensure smoothly running operations and on-time compliance with this mandate.

VeroSELECT and VRM have been finely tuned and are ready to help lenders quickly and efficiently navigate UCDP for a successful outcome. These platforms were built to provide precise functionality in valuation risk management, as well as manage the entire collateral valuation process from start to finish.

Participants will be able to utilize UCDP through a web-based portal to upload and browse files, or they can connect via a vendor provided solution, such as VeroSELECT and VRM. According to Gowen, vendor integration is a smart option for lenders and their designated agents concerned about loan volume and looking to automate their processes, as well as for lenders looking to add risk management capabilities to their workflow through the addition of analytics or automated reviews.

The GSEs will provide job aids, training programs and other resources to help lenders learn the system over the next few weeks. These tools can be accessed directly from the GSEs respective websites.

Veros is a significant provider of property valuation analytics, including automated valuation models (AVMs), automated fraud and risk analytics, as well as future value forecasting for the real estate and mortgage industry. Veros is also a leading provider of automated valuation and risk management solutions offering platforms managing the entire spectrum of collateral valuation products while simultaneously monitoring workflow for compliance.

Veros was selected in 2010 by the GSEs as the technology provider to build, support and maintain the UCDP platform, which provides the electronic appraisal data delivery to the organizations.

About Veros Real Estate Solutions

Veros Real Estate Solutions, a proven leader in enterprise risk management and collateral valuation services, uniquely combines the power of predictive technology, data analytics and industry expertise to deliver advanced automated decisioning solutions. Veros products and services are optimizing millions of profitable decisions throughout the mortgage industry, from loan origination through servicing and securitization. Veros provides solutions to control risk and increase profits including automated valuations, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is headquartered in Santa Ana, Calif. For additional information on Veros, visit or call (866) 458-3767.

Media Contact

Emily J. Carpenter-Pulskamp, APR

Public Relations Manager


(714) 415-6381

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SFG Finance Names PassTime USA its Preferred Vendor

Arlington, TX (PRWEB) February 03, 2012

SFG Finance LLC (, a purchaser of auto paper from BHPH dealers, new car franchise dealers, finance companies, banks and credit unions, today named PassTime USA (, the industry leader in high-tech GPS tracking and Automated Collection Technology solutions as its preferred vendor for its loan purchasing programs.

SFG Finance recently launched a new loyalty program to help dealers thrive in todays competitive environment by utilizing top companies in the industry that are the best at what they do. The program provides a real value-add and we are delighted to have an industry leader such as PassTime USA be associated with our program, said SFG Finance COO Henry Gonzalez.

SFG Finances National Subprime Loan Portfolio Program purchases performing vehicle loans, providing needed capital and allowing dealers to achieve greater liquidity in their business ventures. Additionally, sellers of portfolios will be provided a credit toward the purchase of PassTime devices. We feel by helping a dealer purchase an item they need, and are already using, we add value to their bottom line, Gonzalez stated.

PassTime USA offers GPS tracking and its own Automated Collection Technology (ACT) solutions to its customers in the BHPH and subprime finance industry. Its wide range of products and services, superior 24/7 live customer support, and industry expertise provide customers with a complete package for protecting their assets and managing their portfolios.

“We are very excited about being selected as SFGs preferred vendor for their new program,” said Jake Frank, co-founder of PassTime. “The ability to provide access to a company that specializes in buying BHPH portfolios is another valuable addition to the array of solutions we provide our customers.

SFG Finances recently launched program purchases existing near prime, subprime, and BHPH auto loan portfolios from franchised and independent auto dealers, as well as finance companies. Portfolio sizes range from $ 500,000 to $ 150 million, are held on the balance sheet and serviced internally.

The program is highly efficient with a seven to ten day total turnaround from analysis to closing, and will target accounts with as little as 30 day seasoning. Since its inception SFG Finance has actively purchased and closed portfolios from dealers and finance companies in more than 30 states.

Funding for the program is made possible by SFGs parent bank, with the additional advantage of a more stable cost of funds and without the need to securitize. SFG Finance offers complete transparency and up-front pricing based upon its superior analytics. A due diligence team will evaluate all loans in order to maximize the selling dealers return without interrupting the dealerships existing business, ensuring a seamless transition.

About SFG Finance:

SFG Finances tagline is: Turning Paper into Profit One Relationship at a Time. The company is an active purchaser of auto finance receivables and its executive management team has over 75 years of combined industry experience. It is a wholly owned affiliate of Southside Bank, one of the nations largest independent banks with $ 3.2 Billion in assets. SFG Finance buys sub-prime through near prime auto paper, servicing released, from banks, credit unions, auto dealers, and other financial institutions nationwide. The companys aggressive pricing and experience across all credit spectrums make it an industry leader. For more information visit: or call: 866-590-7734.

Media Contact:

William Donnelly


About PassTime

Headquartered in Littleton, Colorado, PassTime was founded in 1992; the PassTime Suite of Products is designed to improve customer payment performance and reduce default and repossession risks. In 1997, PassTime created its first Automated Collections Technology product. Over the next several years, a Suite of Products evolved that offer GPS tracking, wireless, and Automated Collection Technology products and services designed to meet the needs of a highly diverse industry of car dealers and special finance companies. PassTime solutions facilitate higher rates of return on financing based upon improved customer payment performance. PassTime prides itself on a 24/7 Customer Care Support Center for partners, lenders, dealerships, and end-user customers. Over the past decade, PassTime has sustained industry leadership with its innovative products and services. For more information about PassTime, please visit or call 877-PASSTIME. Contact Jeff Karg, director of corporate communications at jkarg(at)passtimeusa(dot)com.