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
info@PlatinumData.com.
Press Contact
Jeri Yoshida
Strategic Vantage Mortgage Public Relations
(310) 396-8813
JeriYoshida@StrategicVantage.com
SOURCE Platinum Data Solutions