|By PR Newswire||
|March 18, 2014 10:21 AM EDT||
ALISO VIEJO, Calif., March 18, 2014 /PRNewswire/ -- Freddie Mac (OTCQB: FMCC) has approved Platinum Data Solutions as one of nine authorized distributors of Freddie Mac's Home Value Suite to mortgage lenders, servicers and other third parties, Platinum Data officials announced today.
Freddie Mac's Home Value Suite includes Home Value Explorer® (HVE®), an automated valuation model (AVM), and Home Value Calibrator® (Calibrator®), a quality control tool that analyzes the relationship between key loan information, borrower information and collateral valuation data.
"We've been in discussions with Freddie Mac about our AVM calibration and testing program, and I believe our dedication to accuracy and suitability is a key reason they selected us a distributor," said Phil Huff, CEO of Platinum Data.
Platinum Data is the largest independent reseller of automated valuation models in the country and the premier provider of collateral evaluation and quality technologies for the mortgage industry. As an authorized distributor, Platinum Data can now sell HVE to not only lenders, servicers and other direct users, but also third party resellers. Another distinction of being an authorized distributor is that Platinum Data is now able to provide Calibrator, which was not previously available through the company.
"Quality is very important to Freddie Mac, and Platinum's OptiVal™ helps lenders and servicers ensure quality by determining the most suitable AVMs based on location and other risk factors," added Huff. "With our mutual dedication to quality, this is a great fit."
Each AVM's accuracy varies by geographic area. In order to provide the highest levels of AVM accuracy, Platinum Data recently completed comprehensive calibration testing for all 18 AVMs in the OptiVal cascade, including HVE. Calibration testing assures users that OptiVal's results are the most accurate, according to current market values.
Platinum Data customers may order one or more of the products in Freddie Mac's Home Value Suite through the Platinum Data customer portal. New customers should contact Platinum Data at (877) 711-1200.
About Platinum Data Solutions
Platinum Data provides technologies that help mortgage lenders, servicers, investors and appraisal management companies ensure quality, value collateral, and identify and manage collateral risk. Its online platform and analytical tools are being used by hundreds of companies to perform due diligence, prevent buybacks and protect billions of dollars in assets across the U.S. The company's RealView system revolutionized the way the industry reviews appraisals, while its AVM offerings provide a truly unbiased perspective on collateral valuation. Platinum Data Solutions is based in Aliso Viejo, California and was founded in 2002. For more information, visit PlatinumData.com, follow @Platinum_Data or email [email protected].
SOURCE Platinum Data Solutions