SWBC Lending Solutions™ and Platinum Data Launch SureVal™ Property Analysis Report
Alternative valuation product offers lenders economical, accurate, USPAP-compliant value conclusions for equity lending and non-QM originations
SAN ANTONIO, TX and ALISO VIEJO, CA (October 21, 2014) — SWBC Lending Solutions™ and Platinum Data Solutions have launched SureVal™ Property Analysis Report, an alternative valuation product powered by Platinum Data’s data and analytics engine that capitalizes on SWBC Lending Solutions’ recent acquisitions of Equi-trax Asset Solutions, LP and Quality Valuations Services (QVS). SureVal was created specifically for use in equity lending, as well as for originations that do not require a traditional appraisal, such as non-QM (non-Qualified Mortgage) transactions. It addresses lenders’ need for a property evaluation product that is more economical than a traditional appraisal, but more intricate and in-depth than an automated valuation model (AVM).
The Interagency Appraisal and Evaluation Guidelines require that lenders document their methodology for determining the condition of property for equity lending transactions that qualify for the appraisal exemption. SureVal, which provides a detailed property snapshot that documents the property’s condition with an in-person property inspection, uses the accuracy of regression analysis along with the expertise of a local appraiser to provide lenders with a well-supported USPAP-compliant value conclusion.
“We are very excited about this product and partnership with Platinum Data,” said Ted Robinson, CEO of SWBC Lending Solutions. “The product is unlike any other hybrid product in the marketplace today.”
“There is no such thing as a lending decision that can sacrifice accuracy in value conclusions—that includes equity lending and non-QM transactions,” said Phil Huff, CEO of Platinum Data Solutions. “SureVal extends that accuracy into these segments at an economical price.”
Headquartered in San Antonio, SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. For more information, visit SWBC’s website at www.swbc.com.
About Platinum Data Solutions
Platinum Data, “The Appraisal Quality Company,” provides technologies that help mortgage lenders, servicers, investors, appraisal management companies and their vendor’s 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 pioneered computer-assisted appraisal underwriting. Its valuation analytics channel provides services that assure the accuracy and compliance of collateral evaluations used for entire portfolios as well as for individual transactions. 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 info@PlatinumData.com.