MReport Jan 2019

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TH E M R EP O RT | 37 SPECIAL ADVERTISING SECTION: PROPERTY VALUATION GUIDE Veros Real Estate Solutions KEY PERSONNEL Darius Bozorgi President and CEO David Rasmussen SVP, Operations Chuck Rumfola SVP, Strategic Initiatives Rob Walker VP, Sales Jim Blust SVP, Technology CONTACT INFORMATION 2333 N. Broadway, Suite 350 Santa Ana, CA 92706 866.458.3767 COMPANY DESCRIPTION A mortgage technology innovator, Veros Real Estate Solutions is a proven leader in enterprise risk manage- ment and collateral valuation services. The firm com- bines the power of predictive technology, data analytics, and industry expertise to deliver advanced automated solutions that identify and mitigate risk while increasing profits throughout the mortgage lifecycle, from loan origi- nation to servicing and securitization. Veros' services include automated valuation, fraud and risk detection, portfolio analysis, forecasting, and next-generation collateral risk management platforms. Veros is also the primary architect and technology provider of the GSEs' Uniform Collateral Data Portal (UCDP). COMPANY HISTORY Since its founding by Darius Bozorgi in 2001, Veros Real Estate Solutions has been driving the evolution of property valuations. In the first years of its inception, the company leveraged the latest technology to create second-generation AVMs, proving that valuation metrics can be objectively measured and correlated to accu- racy. In 2003, the company achieved nationwide AVM coverage, providing critical valuation services to sever- al of the nation's largest mortgage originators. In 2006, Veros established the systems side of its business when it was selected by a top ranking mortgage origi- nator to build the company's Valuation Management Platform. In 2010, Veros was chosen by the GSEs, Freddie Mac and Fannie Mae, to build, support, and maintain the UCDP. Today, Veros' electronic industry portals process appraisal data for an estimated 80 percent of all U.S. mortgages with more than 60 million appraisals submitted as of December 2018. Other Veros firsts include the 2017 introduction of Veros' proprietary GSE-certified UCD Solution VeroDATAFI and the 2018 release of a tool that identifies upfront whether or not an automated valuation model (AVM) is appropriate—VeroPRECISION™ AVM Suitability Engine. In 2018, Veros also introduced VeroPACE, a customized valuation solution for PACE lenders. BUSINESS LINES, SERVICES, AND PRODUCTS Both directly and through a network of top resell- ers, Veros provides lenders and other mortgage and financial services professionals with alternative valuation products, including AVMs, AVM Cascades and hybrid valuations, as well as its groundbreaking VeroPRECISION™ AVM Suitability Decision Engine. Its predictive and protective tools include market forecast data and HPIs (VeroFORECAST™), risk analysis, fraud detection, scoring tools, and portfolio review services. Veros also offers property condition reports, broker price opinions, and REO reports. GEOGRAPHIC SCOPE AND COVERAGE AREA Nationwide REGULATORY COMPLIANCE Veros engineers its analytic tools, systems, technol- ogy infrastructure, and internal protocols to align with the compliance expectations of the industry's largest and most heavily audited participants. The company's Compliance and Audit Department executes an annu- al audit and risk-management plan designed to assess potential risks that could impact the company and its clients, then carries out any needed remediation steps. This group also facilitates client audits and supports the external audit firms in their execution of the annual SSAE 16 and FISMA compliance audits. The SSAE 16 audit period covers January through December each year, and the FISMA compliance attestation is issued every three years. COMPETITIVE ADVANTAGE Veros combines predictive analytic prowess with unrivalled industry expertise to create advanced business intelligence-based solutions. Available via SaaS or fully integrated solutions, these offerings empower Veros' customers to reduce expenses, streamline processes, mitigate valuation-related risk, and enhance regulatory compliance. The com- pany's most recent innovation, VeroPRECISION™, is the first property-specific valuation decision logic technology to determine AVM suitability upfront, providing a complete, end-to-end valuation solution for second mortgages and home equity lending. KEYS TO SUCCESS A solution-centric provider, Veros takes a consultative approach with its business partners, working with them to create solutions that address specific business use cases. While many valuation providers actively compete with their reseller clients, Veros focuses instead on empowering theirs, many of which are AMCs. By providing them with the automated valuation services and technology solutions they need to round out their offerings, Veros helps them capture market share while better serving their clients' valuation-related needs. INDUSTRY AWARDS, ACCOLADES, AND MILESTONES Since the company's inception, Veros has consistently earned top recognition within the industry. Veros re- ceived Mortgage Technology Magazine's 2010 Synergy Award and 2014 Transforming Valuations Award for its efforts around UCDP and industry standardization. A five-time recipient of HousingWire's Tech100 Award and winner of the 2015 Market Influence Award, Veros has been recognized as a Top 25 and Top 50 Vendor by Mortgage Technology Magazine on multiple occasions. In 2011, company founder and CEO Darius Bozorgi was selected as a Technology All-Star by Mortgage Banking Magazine, and he has been a featured speaker for national media outlets, including Bloomberg, Reuters, CNBC, The Wall Street Journal, and USA Today.

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