Platinum Data Named Finalist for Mortgage Technology Award
RealView™ technology recognized for transforming the valuation segment
ALISO VIEJO, CA – October 17, 2012 – Platinum Data, a leading provider of comprehensive collateral evaluation technologies, has been named one of three finalists in Mortgage Technology magazine’s 2012 Mortgage Technology Awards. The company, which has been recognized in the “Transforming Valuations” category, was recognized for its technology advancement in the appraisal sector.
RealView, Platinum Data’s flagship product, has long been revered by industry experts as a game-changer in the appraisal space, as it enables companies to quickly and easily customize their review criteria while providing the most thorough appraisal reviews in the industry to date.
“Our clients repeatedly tell us that we’ve revolutionized the industry with faster speeds, greater breadth of actionable data, and far greater customizability than any other appraisal review technology on the market. It’s rewarding to be recognized formally by Mortgage Technology magazine,” says Phil Huff, CEO of Platinum Data.
RealView’s primary differentiators are based on a component-based business rules engine that enables users to not only choose their own review criteria, but also implement custom processes in hours, not days.
“RealView empowers companies like mine—and of any size—to achieve quality, transparency and compliance in appraisal reviews without breaking our budget or impairing profit margins,” said Marquise Mansaw, vice president and underwriting manager for North American Savings Bank. “Its features and capabilities really have transformed the appraisal evaluation segment. No other technology can verify appraisal data at anywhere near the level that RealView does, and manual processes could never match its consistency and standardization. RealView has forever changed the way the industry handles data quality for appraisals, one of the most important criteria in the mortgage decision.”
Released in 2010, RealView’s SaaS platform aggregates information from more data sources than any other automated appraisal review software. RealView prevents fraud; boosts appraisal quality, and extracts and analyzes countless data files; and processes up to 2500 business rules. Reviews take moments, compared to the average 45 minutes or more needed for manual reviews. The RealView report also provides at-a-glance “low-medium-high” qualitative scoring that enables manual reviews to be assigned to the appropriate reviewer, whether a junior staff member or a veteran with decades of experience, in seconds.
“By recognizing Platinum Data as a leader in transforming valuations, Mortgage Technology is increasing awareness of the solution to one of the industry’s most serious problems—the quality of collateral data,” says Huff. “The industry’s valuation challenges can’t be solved with workflow process technologies or data that can’t be leveraged. The way to solve the issue is to enable lenders—small and large alike—to access airtight verifications on the quality of their appraisal data. By providing cost effective tools for determining the accuracy of data, Platinum is helping to level the playing field for AMCs, lenders and investors, while protecting borrowers as well.”
Winners of the Mortgage Technology awards will be announced at a live ceremony scheduled to take place on October 21, 2012 at the MBA’s 99th Annual Convention and Expo in Chicago.
About Platinum Data Solutions
Platinum Data provides technologies that help mortgage lenders, servicers, investors and appraisal management companies 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 www.PlatData.com or email info@PlatData.com.